Business leaders have faced myriad challenges during the latest disruption event. Managing teams during remote work, communication, maintaining productivity and development – just to name a few. And who better to offer insight on these issues than the leaders themselves? This time around, we examine how those at the top of the organizational chart have dealt with new challenges. Come along for another edition of Navigating Disruption.
New heroes emerge
No leader can get through a crisis without the support of a team. Giving credit where it’s due, the CEO of a design and consulting firm with operations in four states noted how their IT team hit a homerun during the latest disruption.
“People are slapping them on the back virtually and very happy about what they’ve done. I think our IT group will emerge with a lot more respect than before.”
Similarly, the executive vice president of a Midwestern community bank explained how new members of their management team gained more experience and confidence by stepping up to the plate through the disruption.
“We’ve had some newer people in positions that maybe didn’t have a level of confidence with executive management, from an accountability standpoint, and I think this has provided an opportunity to step up and has given their staff more comfort with some of those supervisors, and just letting them go on some issues, which is good.”
Dealing with stress points
Speaking with the same design and consulting CEO, we learned how their organization leaned into a strong hierarchy to withstand disruptive pressure.
“Last year we added a chief operating officer and a VP of strategy. And we took that approach all the way down to promoting a lot of different directors. We added a lot of hierarchy last year, and I think that’s been beneficial to us as we come out of this.”
In the same vein, the head of a Midwestern commodities company noted how a crisis can often highlight whether leaders are spread too thin.
“I would say that when an organization is pressure tested by a virus or a pandemic, you start to see the leaders that might have too wide a span of control, meaning they’ve got too many direct reports, too much responsibility to handle. It did identify some pockets where we needed to adjust and balance the load across our organization.”
They went on to say that external factors even brought certain departments to a standstill, necessitating the need for flexibility.
“We have some new product development happening, and we’re working with other organizations … if they close and their developmental cycles slow, it slows our new product development. When you’re in the middle of a project, it’s best to maintain and optimize what you have.”
‘Communicate, communicate, communicate’
The latest disruption saw a situation that changed day by day. And, according to the CEO of a regional potato farming operation, staying transparent with staff was vital.
“What we’ve done to make sure we don’t have headwind is just communicate, communicate, communicate. You can’t communicate enough and make sure people understand that you understand what’s going on, number one. We appreciate the complexities of what’s going on. And we’re going to be there to support them, whatever happens.”
Beyond communication, many leaders mentioned the need to reward employees for their adaptability and be conscientious about maintaining ethics. The CEO of a design and manufacturing company had this to say:
“People, I think, feel like they’re doing something good by working with us because we have bike-to-work programs, we give back to the community. We try to get company engagement in all these things, and then we do a blood drive four times a year.
“We gave additional bonuses to show that we recognize everyone’s going through a tough time. ‘We appreciate you being here and appreciate you being available for our customers,’” said the executive vice president of a Midwestern community bank.
Roll with the punches
When asked about the leadership strategies that have carried them through the latest disruption, the president of a bank holding company alluded to the balancing act of both adapting quickly and maintaining core principles:
“In banking, we do nothing on the fly. But we have had to make some adjustments on the fly, because things are changing so quickly. But we’re constantly reassessing where we’re at …When we’re making decisions, we live by the principles that we’ve always had – maintain our banking principles and remain the employer of choice in our community.”
The executive vice president of a different Midwestern bank put in simply when asked what’s needed to manage a company through disruption:
“Flexibility, I think is key one … I guess to answer the question succinctly, just options and flexibility.”
We hope you found worthwhile insights in this article. For more, read other articles from our Navigating Disruption series.
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