How to lead in accelerated times.

We are living in uncertain times. Business like ours are experiencing rapid changes that we could have never imagined earlier. An extraordinary example of one such change is exponential demand for Telecom products but a continuous lack of product supply on account of global chip-set shortages. Another change witnessed at  both personal and professional levels is a high level of employee stress & anxiety on account of uncertain global market dynamics. The challenge is to manage both business & people and bring a sense of stability and continuity in these unusual times.

So  how does one lead during such ambiguous times?

As a leader, one must admit that extraordinary times call for extraordinary thought process and ideas. Typical routine business model will not work. Here are a few tested ideas that can help to deal with accelerated times.

Make decisions fast, and move on fast in case they fail

Reduce the time spent on preparing plans and implementing them. If a decision you make does not play out the way you anticipated, deal with the consequences quickly and move on to the next best option. In other words Fail fast. Cultivate a culture of continuous improvement that promotes transparency, and ensures your company is prepared for growth continuously. Monitor internal processes continuously and look for speed brakers, maintain high quality in products and processes and create an environment that  avoids employee burn-out. Focus on small wins on a daily basis that lead to accomplishment of bigger goals.

The Pareto Principle

The 80-20 rule, also known as the Pareto Principle, is an aphorism which asserts that 80% of outcomes (or outputs) result from 20% of all causes (or inputs) for any given event. In business, a goal of the 80-20 rule is to identify inputs that are potentially the most productive and make them the priority. For instance, once managers identify factors that are critical to their company's success, they should give those factors the most focus. In present times an organization must focus on most important activities and tasks.

 Help employees deal with stress, negativity and anxiety

In uncertain times, employees bring stress to work and leave work more stressed than they came in. With the blurring of boundaries between working from the office and home, the job never seems to end. Additionally, external factors such as inflation, increasing health issues and increased cost of daily commodities cause anxiety. Add to that, the stress brought on by the coronavirus—because of furloughs, job losses and worries about getting sick.

To ease this constant stress, make sure employees are taking regular breaks. Encourage employees to exercise daily, take time for friends or a significant other after work, pursue hobbies, listen to music and take time off. If need be, give them access to mental health professionals. And most important spend some time in meditation.

Innovate on the go

When one is overwhelmed with work, one cannot set aside time to think of new ideas. Create a culture of innovation on the go. Encourage employees to think of new ways to complete existing tasks in a faster and better way. Overall in a fast-changing environment, you need more people who are dynamic and willing to be more malleable. Build a team that is ready to face a new reality.

Foster trust and transparency

A major cause for concern among team members is incomplete or lack of information. Often, they are subject to half truth resulting in insecurity for self and  knowledge on the exact status of the company. In these uncertain times, being transparent about the organization’s performance, setbacks and road map for the future builds trust among the team members and significantly reduces their stress level.

Look for ways to recognize the value of employees’ daily contributions to business success and regularly check-in to see how well they’re coping with their workloads during this busy time. Ask them what resources you can provide that will “help them with the additional stress that inevitably comes with strong growth.”

During these time bring to action the not so famous saying,  ‘when the going gets tough the tough get going’