I don’t know of any time in my adult life where our world has changed so dramatically and so quickly.
The U.S. economy went from maybe the best time in our history to the edge of the worst recession or even depression overnight.
For anyone who does not appreciate what it is like to own or manage a business, you certainly must know now that in this environment people are facing issues and challenges that we only imagined a few months ago. We have gone from making decisions about growth, profit margin and expansion to how can we survive.
Executive decision-making at this time can make or break a company. Dealing with all the variables requires a team of dedicated people who are going to be asked to make decisions and offer solutions with no previous experience with the challenges we are facing today.
Now is the time for action. Decisions need to be made in these times of uncertainty. Important problems must be solved; informed decision-making must be prioritized. Planning can’t wait. What do you need to survive and what are you doing to maximize your company’s potential now and in the new future?
Crisis forces change — and blasts open the doors to innovation. Many are talking about what will be lost. Executives need to determine what can be gained. Now is the moment when you will find out if you have developed leaders or just good managers. It’s critical to assess your team in times of crisis.
Do your leaders have what it takes to:
• Make hard, but confident, choices and to recognize the big picture?
• Act when the time is right, relying on sound problem analysis?
• Deal with uncertainty and anticipate consequences well ahead of evolving situations?
What should you be looking for in your team?
• Decision makers who can create clarity out of ambiguity.
• Problem solvers with keen analytical skills.
• Resilient thinkers open to new ideas.
• Innovators who can see opportunities for growth — and anticipate risks.
• Team members with the mental disciplines and mindset to drive that new idea from concept to conclusion.
You need these right people now.
It is essential to identify the team that can meet and overcome current challenges. People are even more important in times of crisis; if you do not have the right people in the right roles, now is the time to find those who can meet your future needs.
Sixty days ago, it was difficult to recruit talent but times have changed. There is a great opportunity to position your company for the future by aggressively going after talent now.