CRA Business Leadership Explored
In business, a crisis that arises without warning will often force leaders to decide how to move forward with unclear or incomplete information. When you’re under pressure to make a decision quickly in response to a dire situation, you might wonder if it would help to alter certain aspects of the organization in response.
When a business is in crisis mode, seasoned leaders think twice before making big decisions about changing certain core aspects of a company. Here, 11 experts from Forbes Coaches Council examine areas where leaders should take a step back and consider the potential consequences before making hasty decisions during a crisis.Forbes Coaches Council members explore aspects of business that leaders shouldn’t change in response to a crisis.
1. Strategy And Culture
Not only would I strongly suggest not making changes to your strategy and culture, I would also recommend doubling down on these fundamental items. The crisis will pass, and you want to be remembered for your ability to remain strategically focused in spite of challenges. – John Knotts, Crosscutter Enterprises
2. Organizational Structure
You should avoid reorganizing your structure without properly thinking through your current strengths and those needed for tomorrow’s world. Look at the current hardwiring of your team members, your current strategies, the fits and the gaps, and then intentionally create a go-forward plan. Moving too quickly, without analysis, may end in missed curation and final creation of your long-term vision. – Shelley Smith, Premier Rapport
3. Core Values
Resist the urge to change your organization’s core values. During a crisis, your core values are tested, stretched and challenged. But, if they are really core values—your “North stars” and things that differentiate you from your competitors—they should guide you through a crisis, not be something you casually toss aside because they’re inconvenient. – Lee Eisenstaedt, Leading with Courage Academy
4. Public Presence
Don’t make hasty, irresponsible public outbursts. Most small-business owners don’t have large teams to help us “spin” the story. The words we use matter. In most cases, the words we use during a crisis matter most. The way leaders respond during a crisis can leave a lasting impression on employees and clients. – Mika Hunter, Female Defender
5. Paths Of Communication
Don’t alter the paths of communication with your workforce during a crisis. Instead, ensure continued connectedness. People need to hear from you consistently to align and act on business plans. They also need ongoing empathy and support. Continue team meetings, one-on-ones, town halls, intranet updates and virtual and mobile conversations. Don’t hastily change how people stay informed and cared for. – Loren Margolis, Training & Leadership Success LLC
Whenever there is a crisis, cutting your staff is always a tough decision, but it should not be your first go-to for saving money. Even if it means cutting salaries at the top by a percentage, try your best to retain and take care of your people. Remember that, while your company might be facing challenges, they are also facing those same challenges individually. They’ll remember it. – Dhru Beeharilal, Nayan Leadership, LLC
7. Team Development Budgets
Leaders should spend time in research and thought before making decisions around the existing development budgets of their teams. In such times of crisis, investment of energy and development of their team members is one key aspect in business that affords sustained organizational health and employee engagement, which supports value creation and competitive advantage. – Lori Harris, Harris Whitesell Consulting
8. Marketing Budget
Never, ever cut your marketing budget. Your personal and business branding is your “pre-sell” for your business, your products, services, media and brand “you.” In a super competitive COVID-19 world, you need the courage to stay relevant and show why you exist. Your clients expect it. Personal and business branding is what makes you stand out; without it, you are invisible. – Jon Michail, Image Group International
9. C-Suite Personnel
Laying off expensive C-suite personnel might seem like an evident cost saver, but don’t forget about the long-term impact on the entire team. When their management changes, the team’s motivation might change with it. Keeping trust and accountability in times of crisis is absolutely crucial. – Ruben Crawford, Empowertale Ltd
10. Savings And Investment Discipline
Financial planners are right: It is usually the turtle that wins the race. I know there are times to burn things down and go all in on a concept, but discipline is a muscle, and those who invest and save through periods of unrest, over time, always seem to pull ahead. There may be more excitement and headlines around more dramatic risk, but risk can devastate. – John M. O’Connor, Career Pro Inc.
11. Passion Projects
Don’t give up on the work that lights your soul on fire! During times like these, it’s easy to find paths to the quick buck or say yes to clients you normally wouldn’t. That’s when everything changes. You’ll get so accustomed to making easy money that you’ll stop fighting for the work you love. Don’t forget why you started your business; get creative, take some risks and go big, even if it’s not easy. – Miranda VonFricken, Miranda VonFricken – Masterminds & Personal Growth Coaching!
Article Credit to Forbes.