Edgeline: Leading Edge's Monthly Newsletter
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Address anxieties and move forward in tough times
By Analisa Nazareno
When the economy is deteriorating and when entire industries - such as the automobile, newspaper or financial industries today - experience disruptive change, it is natural for employees to focus on their own anxieties. That makes it difficult to execute business strategy, at a time when strong execution is vital.
To help their organizations stay focused on mission, vision and goals, leaders must:
- Come to peace with their personal issues and concerns.
- Look for strategic changes that not only address the new economic realities, but take advantage of them.
- Engage in consistent and honest communication with employees.
"When you get down to the individual level, the first question asked is, ‘With all of this disruption, what does this mean for me? How is this going to affect my life? What’s going to happen to my job,’" said Larry Olmstead, president of Leading Edge Associates, which helps executives and organizations manage change.
Company leaders are not immune to these worries and concerns. "Do whatever you have to do to come to some peace," Olmstead said. Take stock of your personal situation. Review your financial portfolio. Plan for contingencies – if worse comes to worst and you have to look for another job, where would you begin? Whom would you call?
"Take a day or two off and take a country drive," Olmstead said. "And then say, ‘I’ve taken care of me, now I can take care of what I need to do in the organization,’" Olmstead said. "It’s very difficult to lead other people when you yourself have your own fears."
Olmstead said leaders then need to review the company’s mission, vision and goals; evaluate the changes in the industry, and consider what changes to make in strategy and management to address these changes. Devise a new set of goals, and broadly communicate them.
Helping employees see a path towards specific goals is crucial. "Nobody is going to follow anybody who doesn’t have a map," Olmstead said.
Leaders should ask themselves: Are there people in the organization with strengths that we haven’t called upon that we now need? How do we get those people up front, so they can drive the organization and the business forward?
"There are always opportunities," Olmstead said. "And companies that are really successful have a good sense of who they are and what their strengths are, but are also flexible enough to rely on new products, customers and a new set of strengths."
Once leaders have taken stock of their organization’s needs, they can then lead employees forward. And an important step in leading workers during times of disruptive change is to acknowledge the need for communication.
Send daily e-mails on the status of the company’s decisions, goals and policies. Set up weekly meetings to give employees an opportunity to ask questions and to vent their concerns. Consider holding stress management classes.
"Say, ‘Here is a quick update on what’s happening with this crisis, contact me if you have questions or concerns’ - even if there isn’t a lot to report," Olmstead said. "Make it regular, so they feel up-to-date and can focus on work today."
With personal needs addressed, a roadmap for the company created and a communications structure in place, leaders are better able to steer a company through disruptive changes in their industries and the economy.
"This is a stressful time, let’s be up-front about it," Olmstead said. "You don’t want management to be sugar-coating things, but management has a big responsibility to put their best foot forward and deal with the issues, so we can point to the future and the goals as we move ahead."
This Month in Edgeline
In this month's edition of Edgeline, the newsletter with tips and tools for managers and leaders:
Discretionary power and diversity: All of us can make decisions and choices that influence the dynamics around diversity and inclusion, Jacqui Love Marshall writes.
Ask the Expert: How should one behave at the annual office holiday party? Gail Shih, a northern California human resources executive, has the answers.
Hot Picks: Thriving through Change, by Elaine Biech. ASTD Press, 2007.
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