True Leadership During "Troubled" Times - by Anand Kumar

Its been a long time since the world has faced economic conditions like the one we are currently experiencing. When you switch on the news or read the newspapers, all you hear are the dire conditions of economic downturn - loss of jobs, house repossessions, companies going into administration and the dreaded R word, Recession ! When we look at what is happening to some of the world’s strongest economies like the United States, the United Kingdom, economic superpowers of Germany and France, Asian giants such as Japan, China, Taiwan, South Korea, Hong Kong and Singapore, it’s unprecedented.

But is this really the true picture ? Have we been manipulated to think that conditions are that terrible ? Media hype definitely hasn’t helped. There’s so much about what’s gone wrong with the various economies yet rare mention of any positives. Sensational news sells ! Have we ever thought to think that one of the contributing factors to economic turbulence was due to poor leadership ? Surely there were signs of impending economic challenges? We seem to have forgotten that the global economy goes through its cyclical trends of upward growth and downward spirals. That’s the nature of economics, and history has shown us these trends on many occasions. It’s not new at all. So why are we placing blame on economic conditions and not looking at ourselves as a cause for this state ?

Just looking at the financial sector in countries like the UK and US begs to ask these questions? Short-term quick fixes and exorbitant reward payment packages when they were not affordable have raised serious questions about leadership capabilities within these industries. Unfortunately, the impact of their mismanagement has led to a negative chain reaction across other sectors impacting global economies. Yet we still hear of many positive stories of economic growth and abundance, for example the supermarket chain, TESCO, having achieved annual profits of £3 billion, despite the economic downturn. Is it therefore possible that we can see and embrace leadership opportunities during such “tough” times ? I believe we certainly can! Human beings have faced disasters of monumental proportions throughout history and yet lived through them and progressed to even higher standards, for example, post war reconstruction of Japan and Germany after World War II and Asian economies bouncing back stronger after previous economic recessions, just to name a few.

Industries that are Booming During Tough Economic Times

Not only are some industries producing products or services that are always in-need and in-demand, regardless of the economy, but some categories are actually enjoying strong growth during difficult times. For example, as businesses downsize staff, they still have a need for the services those full-time employees once performed, so they are now outsourcing tasks to service providers. Commercial cleaning services, printing companies, staffing agencies, and computer repair and IT professionals are all popular categories that continue to flourish. Retail sectors like TESCO have proven themselves really well. Regardless of the economy, businesses and individuals want to be successful and those who see opportunities during difficult times continue to experience growth.

So what differentiates the men from the boys during these “difficult” economic times?

a. Successful Leaders find their defining moments during troubled times. During times of progression and growth, when economic conditions are positive and manageable, leadership is rarely tested. True leadership comes during difficult moments. Recognising this is critical as it allows leaders to re-evaluate their business, i.e., its values, its business architecture and what the business stands for. It about going deep within an organisation’s business culture and structure to truly understand what it’s doing, where its heading and what can be considered to move it ahead. Leaders should see this as an opportunity to redefine their organisation and reflect on its current status. It’s not about making hasty decisions such as laying off people and cutting costs unnecessarily. It’s about re-checking what made it successful so far and how it can further be developed.

b. Successful Leaders understand human nature. Bottled up in all of us are great emotional forces. If these are given an outlet, they can be used in a positive and constructive way, and which warms the heart and excites the imagination. If the approach to the human factor is cold and impersonal, then you achieve nothing. If you gain the confidence and trust of your people and they feel their best interests are safe in your hands, then you have in your possession a priceless asset and the greatest achievements possible. Harry Truman, 33rd President of the United States defined leadership as: ‘A leader is a person who has the ability to get people to do what they don't want to do and like it’.

c. Successful Leaders always keep lines of communication open. Communication is the key to making a difficult process more effective. In a crisis, managers are often inclined to stop communicating with their employees. In an effort to avoid any panic some leaders believe that saying nothing is the best approach. However, acknowledging the difficult circumstances is important to maintaining trust. It also shows that management is aware of the problems and working on ways to address them. The communication from the leader thus needs to be positive, proactive, and motivating, and it needs to be authentic.

d. Successful Leaders listen to other views; Don’t surround themselves with yes men! Be ready to hear different views, listen to what your employees are saying, surround yourself with a team of strong challenging thinkers, willing to be your sanity check and offering views that may go against your usual thinking. Having yes men around you can often be a recipe for disaster, and creates mistrust between management and staff. Leadership is about listening to all views and then having the courage to make decisions that are right for the business. A good example of a strong leader in current troubled times is President Obama of the United States. His unwavering ability to infuse confidence, credibility and authenticity in his leadership style has been largely due to surrounding himself with a strong, highly experienced leadership team, capable of challenging him to make tough, informed decisions.

e. Successful Leaders make time for Personal Development. When faced with tighter budgets, companies often try to squeeze as much work as possible out of their employees. However, encouraging round-the-clock availability and excessive overtime leads to frustration and burnout – and ultimately, poor performance – for managers and employees alike. Allow for opportunities to take leave when necessary to rejuvenate tired emotions. Create a learning culture so that all within the organisation can benefit with opportunities to grow. Very often companies try to cut the very costs that can help them progress in difficult time - people development. Visionary leaders are those who see development of their human resources as key to coming out of the difficult situation their company may be facing. By doing so, they get loyalty, motivation and desire to progress.

f. Successful Leaders know how to have fun and deal with Leadership Stress. Leaders need an outlet to vent and express their feelings. They need to make sure they have some sort of support system where they can air their concerns, such as family, friends, or peers. For a leader to be strong during these times, he or she needs to be emotionally and physically fit. Make time to be healthy and reduce stress – exercise, play sports, eat and sleep well, meditate and breathe fresh air. Leaders need to be at their best during these times, but very often, they do the opposite, leading to stress driven judgement and action.

Conclusion

By adopting a more positive, responsible outlook for yourself, your team and employees, you gain credibility, trust and loyalty that give you the strength to steer any organisation through difficult moments. Your choice is to make the experience either daunting or one of opportunity for all.



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