Facing uncertainty head on: key leadership actions to help navigate change
We have a new government with new policy priorities. Leaders should act now to understand the impact of the changing external environment on their strategies, stakeholders and influencing.
Change. Uncertainty. Ambiguity. Whatever label you prefer, how you deal with these things personally has long been a question in job interviews, a core competency you are assessed against, and something you need to lead your people through.
The last months and years have thrown pretty much every challenging situation in the book at us. From Brexit, via the global pandemic, to where we now find ourselves in a time of wide reaching geo-political and economic uncertainty, the role of leaders has never been more important. Understanding the risks and issues, navigating ambiguity, and finding the time to develop practical solutions that support people, customers and suppliers through these times is essential. All whilst juggling the day to day running of the business.
Come together with peers to solve mutual problems
At times like these, truly effective leaders kick into overdrive. They will use delegation and good time and people management techniques to create the headspace needed to think strategically about future plans. Equally important is the need to carve out time to engage with their networks, to brainstorm with others, or to come together as a sector or topic focused group of leaders to solve problems. We’ve seen this happen brilliantly at the CBI, where through our network of councils, committees and policy forum, hundreds of business leaders are working through today’s issues with subject matter experts, to draw out the learnings, develop best practices and create support tools to be shared.
Update your stakeholder maps
Another priority for business leaders now, especially following the change of Prime Minister and key Cabinet members, is to assess external stakeholder networks. Who are the people that can help to effect change in a region or industry? That champion key issues and help business get a voice in government? The CBI Campaigns team have been working over the last few months to identify the new influencers, and how to build relationships with them. With changes in political and civil service leadership at HMT, BEIS, DfE and DIT, it is likely that most businesses will also need to put time aside to update their stakeholder maps and engagement plans.
At Board and Exco levels, leaders should be reviewing their stakeholder relationships, assessing who remains influential, and who are the new players. Are they friendly, and if not, how else can they be reached? Investing in these relationships over time, working out where to build political capital, and how to build coalitions that can help achieve goals, will be key. And be aware that new government have made it clear they want action and solutions from business, so providing insight, data and answers will increase the chances of being heard.
Get the government on board
The political paradigm is changing. The new government thinks differently, with calls for low taxation, lighter regulation and business growth, to lead us out of recession. They are actively looking to business to shape, lead and embrace change. Finding a way to capitalise on this new openness, identify creative solutions to deliver economic growth and get the government on board, will be the winning formula to navigate the uncertainty.
If you want to learn more about policy, influencing and campaigning and business led change, CBI Leadership Development have a variety of programmes for experienced and senior leaders.
Contact Emma Connolly, Head of Leadership Programmes, for further information.
