Leadership key to get agencies back on track

THERE has never been a time when the leadership of professional firms was so important. Managing previous shock downturns, such as 9/11, and the financial collapse, whilst challenging, were largely about costcutting and being ready for the recovery. But this time it’s different. There will be a recovery, but to what? The world may be a very different place. Our businesses, markets and clients will all change. There has never been so much uncertainty.

And whilst uncertainty brings opportunity, it also brings risk. The challenge to today’s leaders is to plan for the next stage and that means planning for a range of possible outcomes. And leaders must inspire their colleagues and clients to follow them. There isn’t much room for mistakes.

It’s fascinating how the personalities of leaders influence their thinking. Extrovert, autocratic, narcissistic leaders may have advantages at times, but not in a pandemic, and that’s why Trump, Johnson and Bolsonaro are overseeing the most deaths. Are you aware how your personality is guiding your decisions?

The first phase of managing the crisis is over. That was the shutting down and maintaining as much normality as possible. There was the rush to 100pc remote working, and most firms are telling me that that went well. Although they usually add: “But it’s not the same.” The problem is that it may never be the same.

Now, the difficult work around reopening your business starts. There are opportunities in almost starting from a blank page. Many of the greatest companies were born out of crises, when innovation is at its sharpest. Now, top leadership is about creativity, not shutting down.

My cousin, Angelo McNeive, is a business psychologist and head of change practice for Stepstone Consulting, training leaders in the corporate world, gardaí and the Defence Forces.

He told me that the organisations that emerged strongest from the 2008 crisis were better at systematically innovating, and at implementing change. He suggests four priorities for leaders:

:: Start by re-examining your purpose, your values. Why are we doing this? Why do we do it this way? Empower your staff to innovate and collaborate, virtually;

:: Plan for uncertainty. What are the likely scenarios? Concentrate on developing tactics and ways of working, for the scenarios that will probably happen, no matter what;

:: Innovate Systematically: Firms are good at innovating within their business model, eg virtual viewings. Innovating outside that is difficult. Systematically engage your staff in generating ideas, through weekly virtual meetings, discussing them and implementing the best;

:: Enable your people: Invest in people in the downturn. Make sure they have the right skills, ways of working and can respond to change.

In my view, all firms should be planning now for a total digitisation of their service lines. Parts of this exist already, but in different places the online auction process, online conveyancing, “data rooms”, online viewings etc.

Sometimes a sudden shock to the system brings clarity. You were doing lots of things prepandemic that you had to stop doing. How many of them are really worth re-starting? How will the new world affect our clients? The design and operation of shopping centres, offices and apartments?

It’s up to the leaders.