From the challenges posed by Brexit to the pandemic and the subsequent “Great Resignation”, it hasn’t been an easy few years for business leaders – and it’s impossible to know what lays ahead.
That being said, challenging times are an inevitable part of the journey and can actually strengthen team bonds when tackled correctly. Proper preparation makes it possible to weather difficult periods and come out on top. As a leader, navigating through tumultuous periods requires a strategic approach. When the going gets tough, effective management is more important than ever. Here are our top tips:
- Embrace the change: One of the fundamental aspects of leading during challenging times is embracing change and adapting accordingly. During periods of uncertainty, circumstances can shift rapidly, and leaders must be ready to pivot their strategies appropriately. Being flexible and open to new ideas enables leaders to anticipate market fluctuations and seize opportunities that might arise amidst adversity.
- Keep communication paths open: As with all facets of life, clear and transparent communication is vital during challenging times. When uncertainty is rife, employees look to their leaders for guidance and reassurance, and effective communication can provide much-needed clarity and direction. As a leader, you must be honest with your staff about the challenges the business is facing and encourage an open dialogue to address concerns and gather valuable feedback from the team.
- Prioritise employee well-being: When a company is going through a difficult period, employees will pick up on the anxiety amongst those in leadership roles and may feel anxious about their own future as part of the team. This is something that leaders ought to be aware of and implement policies that help to protect employee well-being and offer support. The pandemic caused a shift in how people approach work, as it became clear that many sought a better work/life balance. Leaders should recognise this by showing empathy and understanding and considering flexible work arrangements if possible. When times are tough, employees may consider looking for alternative employment. By showing that you value their presence on your team, you’ll increase your chances of retaining valuable team members.
- Explore new opportunities: While it may seem counterintuitive, difficult times can also present growth opportunities. When we’re presented with challenges, innovation can often be the key to perseverance and success. Encourage your team to think outside the box, as this could lead to new ideas for generating profit. More often than not, embracing innovation can lead to breakthroughs that can position the organisation for success in the long run.
- Lead by example: As the adage goes, actions speak louder than words. During good times and hard times alike, leaders should demonstrate the values and behaviours they expect from their team and show dedication and a positive attitude. In leading by example, you can foster trust and respect within the team and set the tone for a positive company culture.
