As a consequence of the COVID-19 pandemic, humankind is facing a universal crisis, with the global economy facing unprecedented uncertainty.

The recent outbreak triggered one of the sharpest equity market routs. The Eurozone economy is projected to shrink by 1%, with some suggesting this could reach 2.5%. The threat of the Eurozone being pulled into a recession is evident. Monetary and fiscal policymakers are working to ensure specific measures aimed at supporting the economy are enabled; however, the impact of the global health crisis will, unfortunately, be felt by all.

During such times we must all adapt. Organisations must adopt a proactive approach to talent management to remain competitive – one that increasingly relies on people and their ability to lead during such uncertain times.

In this article, we look to (i) address some of the critical behaviours which must emerge from those in a position of leadership during times of crisis and (ii) re-address how we are assessing talent to ensure we have the right people in the correct positions, supporting businesses throughout these unsettling times.

DECISIVE ACTION

For many, the current crisis is unlike any other in a generation. The sheer unpredictability of the outbreak presents further challenges; how do senior leaders respond, and how will they negotiate many of the historical processes currently in place to ensure they effectively navigate the precarious path ahead? A pre-defined plan is not the answer. Leaders must act decisively to reduce levels of anxiety within their teams; they must also consider the long-term consequences of their decisions. How will their resulting actions impact their legacy? What will their future leaders inherit in the wake of such a crisis?

In this article, we outline four key behaviours which can help leaders during such a turbulent period:

• Elevate team members – Highlight colleagues who can drive the organisation’s response, empowering them to design a decision-making framework where accountability is evident. Such deputies must learn quickly, stay calm and project optimism and confidence whilst remaining alert to the nature of the crisis to ensure they retain credibility. Strength of character quickly emerges as a valuable asset in such a situation.
• Assessment & Action – Deferment and reliance on one’s instinct during times of crisis; the hallmarks of failure. Rather than act on impulse, leaders must regularly collate facts and figures, assessing and working accordingly whilst monitoring the response to their actions. Such an approach does not eliminate the need to act quickly; however, allowing time to reflect enables leaders to remain composed whilst assessing information in real time. Such an approach will result in a response based on what lies in front of them, utilising their knowledge from past experiences.
• Empathy – At such times, team members may revert to more fundamental or instinctive fight or- flight reasoning, thinking of their survival. Leaders must acknowledge this, understanding how the current state of play affects each team member differently. The stress response of a single parent concerned over balancing the impact of school closures with managing their career versus the ex-pat who fears for their family’s well-being back home will vary. Leaders must remain alert to this, acknowledging the challenges that employees experience during a crisis.
• Communication – Leaders may respond overly positively at such times, displaying excessive confidence despite the tricky conditions. Such communication can lead to a loss of credibility. They also leave employees in the dark while facts and information are collated, breeding greater fear and uncertainty in the ranks. Leaders must be transparent, communicate frequently, and be honest about the current state of play, what is known and what needs to be explored further. Enact such an approach to provide reassurance to the team.

FUTURE LEADERS

Whilst re-addressing what is essential in a leader during times of crisis, senior officials must also adopt a renewed approach to talent identification and development. They must be aware of the team’s capabilities, ensuring they onboard new talent in the areas where the function is struggling. Attracting talent at this time is a challenge, given many will fear redundancy; very few will be considering an external move. Regardless, addressing the team’s needs at such a time is paramount, irrespective of the size of the available talent pool. Traditional methods of evaluating talent, focusing primarily on experience levels and technical skillsets, will not safeguard the function against future risk. Re-prioritising our focus will allow leaders to onboard those with a fresh perspective and a skill set that will complement the team, thus enabling the function to navigate the inevitable period of change ahead.

Individuals must ensure they promote certain qualities to ensure they remain competitive in a rapidly changing and uncertain market. We outline four key behaviours which professionals must promote, and leaders must prioritise at interviews during this turbulent period:

• Drive – A desire to succeed and a determination to help align the team with the organisation’s crisis action plan is critical. An ability to remain both calm and adaptable whilst demonstrating strength of purpose
• Inquisitiveness – Imaginative and curious, with a desire to seek new learning and understanding whilst possessing an openness to feedback
• Awareness – An ability to gain an accurate understanding of the situation at hand, collating information from a variety of sources, which will help shape insights, thus reducing ambiguity
• Engagement – At times of uncertainty, organisations must remove the belief that a top-down response will produce stability. Highlighting those at all levels who can relate and connect with team members on a deeper level, inspiring those around them to execute their role responsibilities and find purpose in their position, will increase engagement within the team. A collected response is what organisations will need to ensure they effectively manage the impending risks ahead.

SUMMARY

The impact of coronavirus is having a profound effect on the global economy; its consequences could last for longer and present more significant difficulties than anyone anticipates—such crisis moments present opportunities for individuals to excel.

The prolonged uncertainty of the current pandemic re-enforces the need for leaders to adapt, think quickly and ultimately upgrade the historical processes they have relied upon for so long. Leaders must embrace the practices detailed in this article. For those who do, they will have a profound impact on establishing new behaviours and values within their organisation. More importantly, how they respond will have an overwhelming influence on the type of organisation our future leaders will inherit in the coming years.