If the pandemic has taught us anything, it is that “Change is the only constant”. With the unprecedented situation and uncertain scenario, the limelight was on the leaders to exhibit courage and lead the teams through these tough times.
Warren Buffet – CEO, Berkshire Hathaway
“There will be interruptions, and I don’t know when they will occur, and I don’t how deep they will occur, I do know they will occur from time to time, and I also know that we’ll come out better on the other end”
We all agree that to help us win in these disruptive situations, we need different leadership behaviours and styles.
Let us go through what changes should the leaders look at to succeed during the pandemic.
1 – Shift towards Digitalisation
When the pandemic raged through the globe, moving business operations online was the only option available to ensure business continuity. Leaders who recognised this early on into the pandemic did not lose too much momentum and continued with their business with the help of technology.
Going ahead, business leaders will have to prepare for such unforeseen disruptive events and try to stay one step ahead by investing in technology and digitalisation. The future workspace is going to be different from what it used to be. Trends like Hybrid workspace, remote working, flexible working are here to stay and that needs a massive shift towards digitalisation. Leaders will need to embrace and adopt technology and move towards digitalisation to provide –
- Safe working environment
- Contact-less interactions
- Seamless & secure operations
- Effective communication tools
- Superior User experience
Arvind Krishna – CEO, IBM
“When we look at the usage of AI and cloud, I think it is especially going to accelerate also not just us, but how our clients are going to go on their digital transformations. And I believe this crisis is only going to accelerate that as we go over the next few months.”
2 – Shift towards being a Learner
Though we are over a year into the pandemic, we still do not have clarity about what the future is going to be like. When the businesses closed amidst lockdown, leaders were forced to make decisions on a day-to-day basis with the help of limited information and no precedence to rely on.
Leaders will have to shift their mindset and approach to accept uncertainty as the new normal and function in volatile situations, taking risks to meet daily challenges. Being able to give in the best in any situation requires a learner’s approach as against a perfectionist’s approach. We definitely don’t need analysis paralysis in these disruptive times.
What people expect from leaders is to have the conviction to take timely decisions and the ability to review them from time to time. Most importantly, the agility to adapt to the changes.
Brian Cornell – CEOTarget
it’s a very unique environment that none of us have seen before, and there is no playbook for how to react in this environment. We’re writing the script each and every day”
3 – Shift towards transparency and open communication
In uncertain times, communication becomes the number one job for leaders. Everyone is anxious and looking at the leaders for direction and support. Today’s unprecedented situation needs leaders to shift to a more open and transparent approach while communicating with the teams.
Open and thoughtful communication assures the teams that the company is aware of the situation and is working towards finding solutions. Also, ensure that the communication is not one way. Allow the stakeholders to share their concerns, questions and experiences.
Going ahead leaders will have to work hard at creating transparent channels of communication across the organisation. This not only works at calming down the anxious workforce but also creates a sense of community which is fundamental in times of crisis like a pandemic.
4 – Shift towards empathy
Pandemic created unparalleled disruptions, not just in the business but in people’s lives. Many lost their jobs, some lost their loved ones, while many more are dealing with fear and anxiety about the future. This is the time to shift to an empathetic style of leadership.
Leaders need to show their human sides. They need to show they understand and care. It can be in form of effective communication, at the least, to something more substantial like offering employee wellbeing or assistance programmes. Investing in employee safety & wellbeing is going to be an important part of the business strategy going forward.
Kiran Mazumdar Shaw – CMD, Biocon Limited
“Ultimately, the greatest lesson that COVID-19 can teach humanity is that we are all in this together.”
5 – Focus on the financial health of the organisation
Business leaders are facing challenges in meeting the financial targets and maintaining the financial health of the company. Leaders will have to focus more on finance and bring in the best-cost culture across the organisation. Leaders need to lead by example if they need to incorporate this mindset where all the employees work towards using the company’s money judiciously.
Going forward, leaders need to prepare for more such upheavals by ensuring they run a tight ship when it comes to costs. There is a need to focus on strategies that lead to cost savings. For eg. Capital costs like office and real estate might need a relook.
As Socrates said, “The secret of change is to focus all of your energy, not on fighting the old, but on building the new.” We need leaders who can see help see through the haze and lead their teams to success.
