Steve Stanley, Chairman of The CEO Institute of WA, looks at leadership and the importance of the people in your business in context of the pandemic.
The current pandemic has shaken the underpinnings through which we lived. It has many of us shaken and pondering what the future will look like. Any certainty about the way the world was ticking along has been eroded. We’ve seen ways that life will be different. Included in those is evidence of the environmental impact of reduced emissions. There is evidence everywhere, that life can be different.
One thing made abundantly clear is that the essence of life and success are people. So many of the CEOs in The CEO Institute are devastated by the impact the economic situation, driven by the pandemic, is having on their people. Having done this myself, through necessity, I have heard many of our CEOs tell the story that it is gut-wrenching letting staff go, or, reducing their hours and impacting their families. It seems the crux of leadership is, and always will be, dealing with people.
There has been a lot of conjecture over whether the traditional office will continue to be in existence when we come through this. I don’t think it matters whether people work in an office somewhere, their home, or smaller team hubs, the essence is still communication and developing teamwork. Getting the best from those we work with is the key to success, no matter what the structure of the business is in a physical sense.
We were in danger of looking to technology to solve most of our productivity and efficiency issues, many times at the expense of our people. Technology has come to the rescue through business and social conferencing facilities allowing people to link. It is possible to operate this way in the future, but without people being able to socially interact, the sort of teams we need to build are not possible. Social connection is essential to develop the sense of belonging and companionship that allows people to work together to achieve common goals. Without this the work is automatic. Setting KPIs and paying on achievement is a limited and ineffective way of growing.
The smart business leaders are seeking ways to strike the right balance. Creating efficiencies through technology while establishing processes to allow the optimal level of interaction, is going to be the tight rope that leaders must walk. Those successful will be the companies that enhance their growth curve. Slip off that rope, and you are creating an imbalance that will steadily disintegrate. Treat your team as number one, and they will provide the customer service that is required. Focus on the customer as number one and drop your team to second place, and all the systems in the world won’t satisfy the demands of your customers.
It’s a fact that the best produced plan will simply turn awry the minute you implement it. This is because some factor will turn up that you had not been able to foresee. I’d venture to suggest that no one’s business plan had considered a pandemic that would, in essence, shut the world. Any plan turned to water when this was announced. The companies and organisations that flourish, are those that are flexible, and for the want of applying an overused word, agile. This agility creates other options, and, can lead to new income sources and efficiencies not thought of previously. Take Woolworths collaboration with Uber, which provides benefits and profits to both.
The ability to adapt to changing circumstances and not be a ‘deer in the headlights’, produces options. Having a strong team behind you who can see the new vision, leads to outstanding achievements. How is your organisation placed? Are you creating teams and exploring the options, or sitting and waiting until everything returns to normal? If you’re in the second category, I wish you well.