The recent COVID 19 pandemic has posed significant challenges to the existing practices of governance especially in relation to risk management, timeliness of reporting and decision making as well as crisis management. Several preventive and detective measures which were previously considered to be sufficient by companies have proven to be a great failure or at least incapable of responding to potential risks that may arise, to say the least.
Until these governance frameworks, methodologies and practices change further to become more adaptive, proactive and truly incorporate technology in all relevant aspects, companies may have to rely on other means to ensure business continuity and to minimize the impact of business interruptions.
Based on the various consulting projects I have been exposed to, It can be observed that companies where top management (i.e. leadership) leads by example and conducts positive and regular communication with its people and stakeholders is expected to be able to better mitigate the impact of COVID 19 and address any new similar emergencies that may arise.
Leading by example, by which leaders act as role models in adopting ethical principles and demonstrating dedication and commitment, is expected to elevate the motivation and engagement of staff in such critical times. This will increase their willingness to go the extra mile in addressing any work-related challenges and being accountable and responsible.
An employee witnessing the level of effort and dedication demonstrated by his/her manager (or leader, to be more accurate) during such critical times to ensure business continuity and accordingly indirectly protecting the employee’s job security and source of income, will automatically show more willingness to also take risks to protect the company’s interests. An IT manager recently decided to attend an IT workshop late at night to ensure that the backup server is functioning properly, despite the restrictions imposed by the Government. When asked what was his main motive behind this and why didn’t he wait for the following day, his answer was: “When I see our company’s CEO continuously addressing business challenges day and night to keep the company running in these financially critical times, that was the least I could do.”
Napoleon Bonaparte, the famous French leader, was a pioneer in this school of thought decades ago. His philosophy emphasized on the importance of leadership in battle (or crisis). His famous quote summarizes it all “if you build an army of 100 lions and their leader is a dog, in any fight, the lions will die like a dog. BUT if you build an army of 100 dogs and their leader is a lion, all dogs will fight like a lion.”
Furthermore, leaders who usually maintain open, transparent and consistent communication with their employees and stakeholders are expected to better respond to such unpredictable macro-level scenarios. Having this communication will definitely help employees focus more on their duties and less on the ambiguity of the future.
“We are planning to start opening gradually as of early next week based on a shift schedule.” When a CEO sends out such a message to the employees, he/she will settle doubts that might have caused uncertainty and distraction recently such as “When will we back to work?”, “If we resume work, will we be attending same hours every day?”
Answering such questions that are very common during these unstable times will help employees to regain focus on the activity on hand without having to worry about other factors.
Prior to COVID 19, leading by example and communication were mainly addressed within the business context of ethics, company culture etc. After COVID 19, I believe leading by example and communication should be further emphasized from a business continuity and crisis management contexts as well.