The year 2020 has been extraordinary with the COVID-19 pandemic exposing us to an unpredictable crisis. While it has been chaotic, the year has also been a great teacher, especially to those in the corporate sector. As this unique year comes to an end, there are several lessons and thoughts to reflect upon. The need for engaging mentorship, handholding, peer guidance along with ethical leadership practices did not remain as topics of mere discussion, but became crucial to be adopted for the survival of organizations — young and old.
COVID-19 has proven that a majority of governments and societies in the world are ill-prepared to handle this sudden global health crisis. The ‘lockdown’ strategy was the only measure that could contain the spread of the virus. This has forced corporations and businesses to either adapt or perish. The situation has turned into a ‘survival of the fittest’ of sorts.
Businesses world over faced multiple challenges — overnight stoppage of services, vanishing of demand for products, activity in factories and warehouses coming to a standstill – are only a few. There was no handbook ready for COVID-19 crisis management. Leaders and top management across corporations seemed vulnerable for the first time professionally and also emotionally. The fear and the panic the virus brought along with it is still inexplicable.
While it seemed like the end of the world for us in early 2020, as the year comes to an end I can proudly say that we coped well. Globally, corporations used their knowledge to evolve and utilized the power of emotional intelligence, ethical leadership, and mentor-led coaching to wade through the tough time.
Economic indicators suggest that most businesses have been able to survive the pandemic and are moving towards normal operations. Empathy and kindness while dealing with employees and peers have been the key drivers for success among leaders.
Leaders across organizations have not just been keen to ensure that their teams are working comfortably, but also sought out each other – looking for mentorship, guidance, and solutions to deal with a situation no one has encountered in the past. Human fears and worries can be lessened when shared with a peer or a friend who can be trusted. Leaders needed guides and mentors during this time who were also patient listeners.
Another thing that leaders across organizations have handled exceptionally well was taking tough decisions. Across economies, large MNCs and start-ups had to lay off staff or make pay cuts. In a majority of cases, this was handled with care. Empathy and communication is key during a time like this and most organizations were able to ensure employee benefits with minimum damage.
Going ahead, the year 2021 will be critical for businesses to fine-tune their operating strategies while ensuring employees’ safety and health. Organizations have to create a fine balance between reaching their business goals and offering security for those who suffered during the pandemic. Businesses will need to be responsible for safeguarding the environment and society alongside their profits.
As I had mentioned in one of my previous posts, going ahead, the triple-bottom-line approach is a must for businesses.
Finally, as an individual, each of us will have to be ready to face the future head-on. The coming times will test our soft power – the resilience and character of human beings, especially of leaders. Meaningful conversations that might not provide instant solutions, but equip you to choose the right path is the need of the hour.
Let’s wish for a better 2021!
