The most common questions we are asked by clients are:

• “How do I understand our risks when there is so much rapid change in the world?”
• “How do I lead during such a challenging environment?”

What’s going on?

There is no doubt that we are all experiencing a pace and scale of change that none of us have witnessed before. It can feel almost overwhelming at times as we grapple with:

• The pace of technological change
• The post-pandemic world and all that means in terms of the workplace
• The UK position post-Brexit and the challenges that has brought
• A stubbornly slow-growing economy
• The seismic shake-up of the world order, which was already in flux, but which has now been turbocharged by the new US Presidency

All of these things affect the world in which we do business, and they affect everyone in the workplace in different ways.

Where do we start to make sense of this? And how should we lead?

Risk is by its very nature dynamic, so I hope that all businesses of whatever size or sector have a sense of what their own risks are, and that they assess these via a risk register. Owners, managers and senior leadership teams should regularly discuss what those risks are and how they might impact the organisation.

Questions to consider:

• How vulnerable are we to a specific threat?
• What would the impact be for us if that threat manifested itself?

Hoping that a risk won’t materialise isn’t a good strategy.

Organisations that do regularly consider the threats and the impacts they could have are much better prepared and more resilient when things do happen, as they have at least started to think about and plan before the event materialises.

Managing worried employees

The uncertainty we are living through affects everyone to some degree or another, and will inevitably generate unease amongst employees. They may be worried about their financial situation or job security. It’s essential that leaders recognise the challenges that their organisations face, are open and honest about them, and provide visible leadership.

In practice, this means:

Communicate clearly and regularly

Don’t ignore concerns people have. Even if you can’t fix the problem, listening and acknowledging the issue is a powerful step.

Keep everyone on board

Make sure that everyone understands what your priorities are and how you are going to get there

Be clear about your culture

Culture - often described as “how we do things here” - is the vital glue of any organisation. It’s a key contributor to performance, profitability and resilience. Organisations with poor cultures see this reflected in high staff turnover, poor morale and poor performance. They are often characterised by toxic behaviours and toxic teams.

By contrast, we know from research that high trust cultures attract and keep the best people, are more innovative and more profitable. Critically, they are also more resilient. That is, they are better able to be flexible and manage risks in times of crisis.

Leaders have a key role to play in setting the culture, so above all else...

Lead through your actions, not just words

Too many organisations have produced fine words about who they are, what they do, and how they do it. But the reality falls short. There is a disconnect between what they say they do and how they actually behave. This is disastrous for a productive working environment.

Actions speak louder than words, so ensure that your behaviour is aligned with the culture you want to promote. Nothing kills staff trust in leadership faster than the perception that the leaders don’t lead with integrity or behave in line with the company values. “One rule for them and one rule for us” is fatal.

You don’t need to spend time or money on this, you just need to be purposeful and understand that how you behave every day will be seen and interpreted. You need to lead by example. Leaders who ignore rules make it permissible for everyone else to ignore rules too. Standards can drop very quickly, impacting every aspect of an organisation’s performance.

If for example, an organisation has a rule around keeping the workplace tidy (this can also be a safety issue), a leader who walks past some rubbish rather than putting it in the bin makes it acceptable to leave rubbish lying around. Putting the rubbish in the bin costs nothing and takes no effort but it sends a visible reminder to everyone that the rules matter. Don’t ignore the sweet wrapper!

Final thoughts

Leaders matter, and with a little thought they can help their people not just survive but thrive through difficult times.

As well as looking at their risks, leaders would do well to hold each other to account on their behaviours and ensure that they are setting the right tone from the top in everything that they do.

Article by Richard Mackintosh, Founder of Venturi Programme.

Disclaimer: Any views and opinions expressed in this article do not necessarily reflect the views and opinions of the Buckinghamshire Business First Group. They are solely those of the author/s.