Just when people thought things were settling down, war breaks out in Europe. Now, Business Leaders and Owners are facing rising inflation, people shortages, Supply chain problems, a Global Minimum Tax, the fear of war, and many other unknowns as they work to lead their organizations.
How do you make sound decisions when faced with so many unknowns?
For too long, most businesses have focused more on their profits than their people. Then came the “Great Resignation” and companies started losing key people from their organizations. Companies still continue to find it difficult to attract and retain the talented employees they need to succeed.
Recently, Sam Reese, the CEO of Vistage wrote an article that provides good advice about things that you can do:
1. Rally around your purpose
Employees need to relate to an authentic and compelling purpose for their work. Gaining alignment with what really matters at work helps build the strength of the company culture.
2. Create a welcoming culture that attracts the right people.
Successful leaders are constantly seeking and attracting new talent, and they are intentional about building the culture of their organization
3. Focus on the employee experience to retain your people
People are your most valuable asset, and in today’s world, command and control leadership no longer works. Seek out and pay attention to employee feedback. Provide recognition for performance and show appreciation for the hard work that your employees provide to help your company succeed.
4. Foster a spirit of transparency with your customers
Your customers are facing the same challenges that you are. Nimble leaders constantly ask questions about what they are helping customers fix, accomplish or avoid.
5. Collaborate with peers
Leaders who surround themselves with peers who offer differing points of view gain real-time perspectives that are critical to making complex decisions in a rapidly changing landscape.
We all have “blind spots” and hearing from others allows us to make better choices as we try to navigate the risks and challenges we face today.
Now is not the time to try to go it alone. The risks are too high and there are too many unknowns. There is power and wisdom in a variety of viewpoints. We do make better decisions when we have the benefit of counsel from multiple people that are facing similar challenges.
For over 60 years Vistage has helped CEOs, Business Owners, and Executives overcome challenges, make better decisions and get better results. Our CEO peer groups are made up of talented, experienced CEOs who provide unbiased feedback and advice in a confidential setting. Each group is led by a Vistage Chair who is a trained facilitator with years of Executive Leadership experience.
Vistage is the place that leaders come to get their answers questioned. Each member seeks to help the other members succeed.
We are all in this together. Is it time for you learn how being a member of Vistage can help you?
You can contact me at alan@theangeladvisors.com
(*Sam Reese’s article was originally published in the American City Business Journals)