Navigating Through Today’s Business Chaos
If you’re like me—a full-glass kind of person—do you find yourself teetering on the edge of that glass as we grapple to cope with daily changes that are impacting our business climate? I intentionally avoid starting my day reviewing the news, because I know that the geopolitical, economic, and workplace crises and chaos that impact my emotional well-being and my business will only sap my energy and make me less productive. The constant stream of bad news and chaotic business changes requires us to develop ways to navigate through.
Conversations with colleagues, clients, and business advocates in my network confirm that companies of all sizes are feeling a malaise from yo-yoing tariffs, a rollercoasting stock market, high interest rates, supply-chain delays, natural disasters, inflation, and global conflicts that are beyond our control. Top these off with our own organizational hiccups, such as retirements, resignations, client losses, managerial mishaps, integrating AI, and more and you can see the unprecedented challenge. It’s a wonder we don’t just pull the covers over our heads, but helplessness is not a good look for leaders.
Regardless of the origin of the crisis, the consequences can be catastrophic for companies and can jeopardize their future. To effectively manage any type of crisis, leaders need to react quickly, decisively, and consistently, and take the right steps to right their ship. However, before taking action, effective leaders must first determine what the desired outcomes look like and how they will assess/measure success. Moreover, many of the ways we’ve navigated change in the past may not be sufficient in today’s world. It is time to identify our blind spots, learn to pivot more quickly, and lead through change with communications that meet the needs of our key audiences.
Take the Leaders Blind Spots Assessment here to understand what type of leader you are, how to leverage your strengths and shore up your weaknesses.
Crisis Management, Adaptability, Planning for the Future
Mary Kelly, an internationally known business expert in leadership, productivity, communication and business profit growth, speaks to and works with 100+ organizations across the globe each year. At the October 14th Business Leaders Breakfast Forum, she’ll present “The Strategic Leaders Roadmap: Navigating the Changing Business Climate”—how to lead to control what we can and mitigate the negative impacts of what we can’t control. Learn techniques and tactics for leading smarter and making better decisionswith data, direction, and decisive action through the PIVOT process.This can help your organization address the six stages of every crisis, challenge, and change, giving business leaders a competitive advantage. Experience the Leader’s Blind Spot Assessment for insights, into how strengths and weaknesses impact decision-making and communications, enabling you to navigate change effectively. Leave with the 12-month business success and accountability planner designed to help individuals clarify their goals and align them with their leaders.
Mary spent over 20 years on active duty in the U.S. Navy, serving in intelligence and logistics. She leverages her master’s degrees in history and economics, a PhD in economics, and 30 years of experience as a professor to help organizations navigate the economy, build their businesses, become even better leaders, and accomplish more in less time.
Register here. Use VIP code 1025AH (your ticket will be $25 vs. $50)
Workplace Turmoil
One of the most concerning and lingering crises is a swirl in the labor force, with labor force participation currently at 62.2, compared with a target of 67. This lag indicates a lower number of people who are either working or currently seeking employment, making it a challenge for companies to find qualified candidates.
This issue highlights underrepresentation by 20-25-year-old (Gen Z) males who would rather live in their parents’ basements and play video games (apology for stereotype I often read about—not my own words). It’s likely to worsen in the near future as Baby Boomers approach their well-deserved retirement. We have to change our communication methods to manage for today’s workforce not the workforce we may be used to and comfortable with. Today’s business world is not only chaotic, but the workers in the business world come with differing mindsets and communication preferences. We need to meet today’s moment to be successful.
The Changing Face of the Workplace
The traditional methods of attracting, recruiting, retaining, mentoring and managing the workforce are no longer working. How we develop our current and next generations of employees as well as clients/customers is on the line.
Each generation brings a different set of experiences to the workplace, requiring different approaches to retain and develop them. For example, the youngest in today’s workplace, GenZ, was brought up by the latchkey GenXers who were raised to be uber independent. In turn, they coddled their GenZ offspring, shielding them from prematurely accepting responsibility. Essentially—and probably unintentionally—this trend has precluded, or hindered at the very least, development of their commitment to work, resulting in a generation of workplace nomads.
Higher education is recognizing and addressing this phenomenon. I recently heard about a university’s attempt to prevent helicopter parents from overindulging their incoming freshman students and encourage them to become more independent. “Disconnect your student’s Find My Phone from your cell phone.” Taking in and understanding all the new generational preferences and codes requires us to build business strategies and communication systems that are more robust and nimble than before.
Clarity, Transparency, Repetition, Feedback
So where does our journey begin to win the hearts and minds of not only GenZ but our entire workforce that is beleaguered by crisis and uncertainty? While clarity, transparency, and repetition have long been considered essential for successful leadership, today they are non-negotiables for guiding employees through pervasive change.
To navigate uncertainties, leaders must consider how the changes they are implementing affect the organization’s vision (where we’re going), mission (what we do), and goals (how we accomplish our vision and mission), as well as the impact those changes have on employees.
Without clarity, employees can feel disoriented and upended, eventually spiraling into disarray that distracts them from achieving their goals and the organization’s objectives. Poor communication exacerbates chaos. Repetitive explanations in down-to-earth language of the goal(s) of the change(s) is key to empowering employees with information that eliminates confusion and helps build confidence in the recommended course of action.
A cascading flow of consistent messaging from executives to managers to the individuals they supervise ensures that everyone sees, hears, and discusses the information. Multiple forms of communication ensure that recipients process information in a way that suits their preferences. Emails, town halls, surveys, and in-person or team video chats that describe the changes and why they’re being made give context that earns trust.
Communication needs to be a two-way street. Feedback is critical for actually understanding employee emotions and concerns. Create feedback loops that provide employees with opportunities to share their thoughts. When employees are invited into the dialogue, they feel valued, heard, and are less likely to leave due to concerns or distrust.
Recalibrate for Recovery
Change is capable of disrupting, even obliterating, culture. To recalibrate after a major change, keep everyone updated about progress to build momentum, which includes highlighting individual employee successes. Reaffirm why the change at hand mattered and how it helped improve overall operations.
However, be careful not to overhype results. Tempering positivity will avoid the misperception of disingenuous praise or self-aggrandizement. Strong communication Infused with candor and modesty will strengthen trust that helps retain talent and connect employees with how their contributions to achieving the organization’s vision and mission.
Partnership and Processes
Since we seem to be in a constant state of responding to a plethora of crises, we are either planning, executing, or recovering from change. Regardless of your organization’s current stage, we can help. If you’re looking for an experienced partner with the processes you need to keep people-centered practices on track as you navigate roiling waters, let’s start a conversation.
Call 800-742-6800 or email us today. For more information and tips for engaging your stakeholders, sign up for our monthly newsletter at askhillarys.com (bottom right corner of the page). Follow us on LinkedIn. If you find this article valuable, please share it with a colleague or two or three.