Tweet

Leadership in Turbulent Times

Guest post by: Louise Pope

Article Overview: Business is no longer what is used to be. Particularly in the Finance Department of organisations. The past few years have seen unprecedented change in the top levels of management within companies. Expectations are higher. And the rules of engagement have changed. In addition to protecting and developing revenue streams, the CEO, the board and the shareholders increasingly expect Financial Managers and CFO's to evolve the business in line with current trends. It has become evident that the finance professionals role within any organisation is more complex than is currently understood and leadership skills will be challenged more so than ever before.

Leadership in Turbulent Times

Business is no longer what is used to be. Particularly in the Finance Department of organisations. The past few years have seen unprecedented change in the top levels of management within companies. Expectations are higher. And the rules of engagement have changed. In addition to protecting and developing revenue streams, the CEO, the board and the shareholders increasingly expect Financial Managers and CFO's to evolve the business in line with current trends. It has become evident that the finance professionals role within any organisation is more complex than is currently understood and leadership skills will be challenged more so than ever before.

The headlines tell the story - these are difficult economic times, causing apprehension and nervousness in employees throughout a sizeable portion of corporate Australia.In many companies, a host of counterproductive emotional issues are in play ... and executives who don't recognise and address them will have difficulty moving their organisations forward.

Louise Pope- Managing Director Aequalis Consulting specialist in finance & accounting recruitment says "Uncertainty and fear are the biggest obstacles" we will encounter over the coming months. Companies undergoing layoffs are dealing with anxious employees, With terminations being conducted in waves and reported daily in the press, no one knows if and when their turn is coming. These are not circumstances conducive to engaging and motivating employees.

Negative feelings always impact productivity and work quality. The consequences generally are increased error rates, decreased creativity, higher levels of absenteeism and poorer problem solving. The once upbeat water cooler hangout turns into a gloomy commiseration gathering where complaints, resentment and suspicion towards the company are continually reinforced.

There's a downhill trajectory in this scenario and if not reversed, you could end up with a lose-lose outcome.

Navigating in the dark.

Getting your workforce through a difficult time is a true test of corporate leadership. The following five actions will help regain some of that lost trust and go a long way towards improving morale.

1. Acknowledge the reality - recognize the issues, problems, emotions and reactions your employees are experiencing

2. Communicate candidly and often - in any crisis situation, frequent communication helps reduce fear and dispel uncertainty

3. Display and encourage adaptability - upheaval in the workplace requires a new and relevant approach to engaging your workforce

4. Inspire ideas - lead brain storming and thought sessions to involve everyone in solutions

5. Celebrate success.

While these measures won't turn back the clock ... they'll increase your odds of making your workforce and organization more productive. They're the "must-do" actions that can foster the "can-do" reactions.

"Responsibilities of leaders are heightened during turbulent times ... but if successful, so are their reputations."

Best of luck.

Louise

Related Articles
  The Value of Military Leadership Experience in Turbulent Business Environments
  Don’t Let the Media Kidnap your Intellect
  Leadership in Troubled Times
  Business Growth Begins With your Employees
  Situational Leadership Theory in Change Management - Different Strokes For Different Folks

Article Tags: absenteeism, apprehension, corporate australia, current trends, economic times, emotional issues, error rates, finance department, finance professionals, financial managers, impact productivity, leadership skills, levels of management, motivating employees, negative feelings, revenue streams, rules of engagement, sizeable portion, unprecedented change, work quality



Related Forum Posts
Re: Info for would be franchisers... - [quote="Sebastien":1d29sdv1]Like Franchise Times, Franchise Update is a very practical magazine. There is no blah blah, just straight facts that anyone in the franchise community can relate to. I just want to mention that all these magazines are NOT franchisee oriented. I mean these magazines are for franchise professionals. If you're looking to buy a franchise, you won't find much information in there. To answer your question, getting published in Franchise Times was fairly easy. I don't want to brag too much but I think I am known in the franchise industry. I was the marketing guy at Franchise.com for a few years before joining my new company, the World Franchising Network. So people know me and I have a very good relationship with Nancy Weingartner, the Managing Editor at Franchise Times. I was talking with her at the last Franchise Expo South in Miami and she mentioned she'd like me to be profiled. I was like "ok, sure!". I like this franchise executive profile thing in Franchise Times as it is rarely BS. People are usually really natural in there.[/quote:1d29sdv1] Thanks for the follow up Sebastien! And I can't say that I'm surprised that networking with the right people and managing your relationships with them properly are the keys to being published. I guess the old adage holds true of "it's not who you know, but who knows you" that's important.
Does a New Company need a "Big" PR firm? - I've started work with a brand new company that is going to do loss mitigation. My boss intends to hire a "big" PR firm - ie one that costs a lot of money - because he wants press releases sent out to the New York Times, the LA Times - all the major papers around the country - and he think they'll be more likely to print them if they come from a "big" firm as opposed to a one-person PR firm. I think it doesn't matter where the press release comes from as long as its well written. What are the opinions here?
Re: Does a New Company need a "Big" PR firm? - [quote="OmnivoreInk":dmj1i0sv]I've started work with a brand new company that is going to do loss mitigation. My boss intends to hire a "big" PR firm - ie one that costs a lot of money - because he wants press releases sent out to the New York Times, the LA Times - all the major papers around the country - and he think they'll be more likely to print them if they come from a "big" firm as opposed to a one-person PR firm. I think it doesn't matter where the press release comes from as long as its well written. What are the opinions here?[/quote:dmj1i0sv] I think the most important factor is whether your press release will reach the most number of your target audience or not. It won't matter if the press release is well written if no one has the opportunity to read it. I also believe that credibility comes with having your press release in an established source like The New York Times, LA Times, etc... For instance, if you enjoyed playing tennis, who would you trust more? The advice from a recreational tennis player who has his own column in [i:dmj1i0sv]Tennis Magazine[/i:dmj1i0sv] [u:dmj1i0sv]or[/u:dmj1i0sv] the recreational tennis player who has his own blog? I don't know about you, but I'd listen to the guy on [i:dmj1i0sv]Tennis Magazine[/i:dmj1i0sv] over the blog owner at least 9 out of 10 times.
Re: Does a New Company need a "Big" PR firm? - I agree with Kevin [quote:3b8fyubd]I think the most important factor is whether your press release will reach the most number of your target audience or not.[/quote:3b8fyubd] You dont a big company that will charge mega bucks as Im sure they will even add a %age to the cost of the press release. Im sure if you approach New York Times, the LA Times with every thing presented professionally I think it will still stand the same chance. I would start advertising online, then locally thats when the NYT can see what there missing out on! And to test the water first!
Re: Business Women Peer Mentoring Spotlight - Hi Everyone, Gosh, I REALLY appreciate your concrete feedback. This was far more than I expected and I'm glad you said what you thought straight out. Each of you have shared something of value and I want to take some more time to think and really go over what each of you have said. However, I can see there are some things I need to change right away. What an interesting point about a NEW program perhaps making people think they are guinea pigs! This is NOT what I want to convey! It's funny how we can see some things so clearly in others while not always seeing it for ourselves! I must admit there are a few things I've been meaning to change (like my bio which is very outdated). Obviously, these things need to be higher on my priority list. You caught me like the plumber who puts his clients first and doesn't get around to fixing his own tap! As far as my target market, I do feel quite strongly about working with Women Leaders and doing Leadership Coaching with them. It's non-negotiable in my books. In my Executive Coaching training, the terms "Leaders" and "Executives" are interchangable. To me, an Executive is a Leader and so is the Business Woman or Entrepreneur who is CEO of her own business. I love working with decision makers! What I did learn is that I need to avoid opening up the Leadership term beyond what I described above. I'm also wondering if there is a misunderstanding with the general public as to what Leadership Coaching really is. Leadership Coaching is all about developing your leadership skills, both as a people manager and in more effectively running and growing the business. There is ALWAYS room for growth in some way. As well, sometimes, we just need a sounding board to clarify what our next BEST step is. In fact, if a woman thinks she has nothing to work on, then we aren't a good Client/Coach fit anyway. How can she grow if she doesn't see the value of expressing ALL of the great ability within her? How can her company grow if she doesn't see the value of strategic planning for the next best level? Thanks again to you all! I will go back to my website and really question whether I am conveying the right message. I got more than I bargained for in this Spotlight... you generously offered way more than I was asking. I think we could be on to something great for the Forum. Now it's time to let someone else have the spotlight. It would be great if everyone took a turn! In gratitude, Tami


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Top Ten Home-Based Businesses

Marketing & Sales tools – going back to basics

Ten Steps to Go from Idea to E-book for Sale

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.