VIEWPOINT
In crisis temper confidence with self-criticism
In the present economic slump, the first casualty in any business is confidence. Businesses, organisations and employees face a test of confidence, they are inundated with worries, leaders are worried about profit or finding new clients while organisations debate on steps to counter the recession and employees are worried if their jobs will be axed.
The fact is worrying has not helped anyone, rather it affects thinking patterns and benumbs the mind making it incapable of thinking creatively or even planning for the future.
It would make better sense to think of ways to improve the situation. Such positive thoughts will aid clear thinking and help in transcending obstacles.
The antidote to worry is confidence, especially if it is the “expectation of positive outcomes” as defined by Harvard Business School professor Rosabeth Moss Kanter.
Working on positive expectations in the present situation is certainly difficult. But confidence has a knack of turning around the situation. It helps in handling any kind of situation when combined with knowledge and experience.
The confidence levels in business depend on the economic scenario, if the economy is buzzing, new ventures take off quickly, innovative ideas are generated and implemented just as speedily and entrepreneurship flourishes. Businesses operate with the belief that every initiative is bound to succeed. On the other hand if things are stable, organisations fall back on tried and tested methods to conduct business and fail to come up with any new or creative ideas. And if things are down like in the present, everybody starts imagining a worse scenario than the actual reality.
In such times, more than ever optimism and confidence is needed and it is the leaders who have to exude optimism and build confidence in others. They should display courage and be practical at the same time and prepared to take difficult decisions.
If tough and exceptional measures are called for, they should implement them and convince subordinates to accept. They should inspire the confidence that things can be managed. However this has to be tempered with prudence and good sense.
At the same time a little too much of optimism can actually backfire. High confidence levels can make leaders think that the decisions they take are the best and consequently an objective view or the notion that things may fail are nowhere in their thought radar.
Blinded by the confidence that they know best and their vision alone is important leaders will actually alienate employees when they need their support during such times. And if their confidence is misplaced, the business will certainly decline.
Leaders while believing in their vision should also temper this confidence with some self-criticism.
They should constantly question if their decisions are right and ask employees for their inputs. This will lead to a more balanced approach to deal with the crisis.
On another level, leaders will have to emotionally connect with employees to get through times like these. For this, leaders will first have to stop worrying, they will have to remember that business is cyclical. While a recession may call for cost-cutting in terms of layoffs or limiting business development, one can still focus on existing clients with the confidence that they will still be with you once things get better.
During such times it is all the more imperative that leaders have to be frank with their employees and also gauge their emotions properly. The CEO of a company should deliberate before executing a layoff and implement it if there is no alternative, but at the same time explain to his staff the need to do so.
Employees look to leaders to alleviate their insecurity and appreciate if they get frank and truthful answers to their queries. They value openness and honesty from leaders and transperancy builds trust and inspires a collective effort to tackle the crisis.
In return leaders will have to trust their subordinates to do their job and do it well. This displays confidence in them.
They will be taking on too much stress if they believe that only they can do the job, so delegation helps.
Leaders will have to remember that the anticipation of bad things is more stressful than when it actually happens, they should stop worrying and be more optimistic with their employees.
A wiser move would be to prepare for change and concentrate on solving problems. The leader’s focus should be on the positive and this in turn will keep everyone motivated and confident.
HEMA GOPALAKRISHNAN
faqs@cnkonline.com
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