LEADERSHIP in a time of crisis

As a leader, it is my duty to acutely appreciate that the challenges of today come with no user manual. Pandemics, loadshedding, unemployment, grey-listing, conflicts – there is no end to the economic and emotional hardships experienced by the people I lead, and I am right there with them. It’s like we’ve all gone toe-to-toe with Mike Tyson and we’re still standing in the 15th round, but the bell refuses to ring.

Despite feeling fatigued and bruised from the leadership boxing ring, I know my colleagues may be struggling and need support now more than ever. Our natural inclination is to want to go into solution mode to make things better. Realistically, we don’t always have all the answers, but within and among us lie the solutions – and that means tapping into the experiences and ideas of those around us to formulate plans that will enable success. We should start with understanding the landscape and context of our people and our businesses.

People are more than just numbers – understanding them deeply through research can inform strategy and help us build a vision for the future that is rooted in reality, instead of building castles in the sand.

This understanding requires extensive research and insights into the minds of leaders and employees. That’s why for the last four years, Momentum Corporate’s flagship research, Partnership Connect, has been unpacking the world of business to uncover practical lessons for leaders.

A key insight from the research is that businesses are still resiliently operating in the midst of crises. The outlook over the next year is positive, with the theme for businesses being growth. True to form, South Africans always make a plan; whatever the circumstances. With a score of only 5.9 out of 10, leaders say they are finding it challenging to lead, and a third of them are finding it exceedingly difficult. Leaders also scored above 7 on most well-being indicators – but there is still much room for improvement. A third of leader’s rate energy levels at 6 and less, highlighting the impact of the extended crisis period on leaders’ physical and mental health.

Although business resilience has been high, these indicators reflect that this has come at a price and the temporary adrenaline rush we gained from “crisis excellence” is running out. It is important for leaders to put the oxygen mask on themselves before they assist their neighbours. In the last three years, leaders have neglected their wellbeing. This needs to change if we are to deliver a return on resilience.

My personal sense is that too many businesses in too many industries find it all too easy to position themselves as the smartest, most innovative or the most technologically advanced, but forget the one thing that connects us all… our humanity. As leaders, I believe we must prioritise the human experience and live by this core principle – especially in times of crisis.

I have seen first-hand how the rising cost of living has made it difficult for many South Africans to make ends meet. Imagine the stress and disengagement that this could cause amongst employees, which can ultimately impact a business’s performance. According to our Partnership Connect research, around 30% of employees are feeling less engaged.

To pile on more pressure, our economic decline and record-high unemployment rate mean that employees are worried not only about themselves but also their families. Many of them have lost incomes in a two-income household – and some may have lost the income of the only breadwinner in their family. These pressures are real, and we need to make sure those we lead are hyper-aware of the tools and benefits they have at their disposal, like Employee Assistance Programmes which are part of the Employee Benefits offering.

From an employee benefits perspective (our bread and butter), employees crave relevant and customised communication. At Momentum Corporate, we understand our members and personalise our engagement based on their needs, preferences, and behaviours. Different events and transactions require different channels. This is why we continue to develop an appropriate multi-channel environment to help our clients interact with us as they choose. This open line of communication is especially necessary during times of uncertainty where members are prone to react hastily and emotionally due to volatility in the market, with the dominant message being ...... “do nothing”. When the market is unpredictable, it’s easy to get caught up in the moment, react and lose money. However, history shows that markets usually bounce back over time, so it’s important for members to stay focused on their long-term financial goals. But, when you strip away all these bells and whistles, you’ll still find that our ability to be human and to connect, remains the difference between surviving and thriving.

As leaders, we must listen to our employees and understand their perceptions, issues, preferences, motivations, and needs. Our research showed that employees in the sample were not entirely happy with the performance of their leaders during this time, so it’s important to encourage a culture of communication, as feedback is the breakfast of champions. Continuous engagement and favourable leadership styles are key drivers of an enabling culture that can overturn increasing rates of resignations and disengagement. Moreover, as the world evolves and people’s needs change, we must constantly evaluate the relevance of our employee value proposition (EVP) and take an integrated approach to both the financial and non-financial needs of employees.

The report also showed that due to the changing times, companies were required to prioritise values that aligned with those of the communities they serve – with factors like sustainability, income, gender equality, diversity, and inclusion initiatives becoming essential drivers of growth for those seeking to build trust with consumers, employees, and the communities in which our businesses operate.

Upskilling and reskilling employees are critical drivers of growth. 41% of Employers said the pandemic left specialist or expert skills gaps in their businesses. Our research shows that current efforts to address the business need for critical skills is only successful for just over half of employees. The emerging trend of the “great resignation” exacerbates the situation, making it even more important to prioritise upskilling and reskilling staff and improving organisational agility – particularly through digital integration. 19% Of employees were found to be considering (with an additional 21% unsure) leaving their employers. It is equally important for leaders to go on the upskilling journey as well, in order to have knowledge and skills that keep up with the ever-changing landscape we face.

Those companies who have moved to a digital-first strategy are proving to be more robust in the long run. The pandemic has driven acceleration in digital transformation. Subsequently, our research found that only 26% of businesses feel that they are advanced in the execution of their digital strategy, this is quite telling in an environment where strategy execution in the digital space is critical to business success. In addition, flexible working practices have become essential, and the hybrid model is here to stay, with larger organisations having been big adopters of the model and 22% of sampled leaders indicating that they may still change to a hybrid work way of work. Leaders must prioritise humanity and focus on the employee experience to attract & retain talent and create companies where people are engaged and want to work.

Personally, I will be centering my colleagues on a clear vision and strategy that sets the path on where we want to go from here. I implore all leaders to give employees something to look forward to, a dream and purpose they can relate to and connect with as well as a relentless focus on what is within our control. By prioritising our shared humanity and looking after our people, we can build a solid foundation for success even in the toughest of times. At Momentum Corporate, this is the essence of who we are, and the success of your people is our business.