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Management Strategies For Times Of Uncertainty

Forbes Communications Council

Yael Klass is the Vice President of Corporate Marketing at Similarweb.

The consumer price index jumped 8.2% in September compared to a year earlier. As CNBC explained, this means a basket of goods valued at $100 a year ago would cost $108.20 today. And there are signs of a slowdown in the U.S. job market.

"How can I not only succeed but also lead my team with confidence right now?"

If you're in any leadership role, you've undoubtedly asked yourself this question recently.

Managing during times of uncertainty is our biggest test, and we're in about as unpredictable a market as can be. How can we effectively navigate rising inflation, high interest rates and blocked supply chains?

Throughout this article, I'll outline three strategies to help you answer that question.

Put On Your Strategic Thinking Cap

Strategic thinking is the ability to recognize the relationships, complexities and implications of a situation, anticipate possibilities, and plan what to do. It's not so much about predicting the future because none of us can really do that—especially right now. It's about having a big-picture mindset. You're in it for the long haul.

When a problem arises, take a pause. You're seeking fact-based, hard information to answer the questions on everyone's minds or challenge their assumptions. Usually, strategic thinking will lead to you an unexpected answer rather than an obvious solution staring back at you.

One of my favorite examples of this is from years ago, when the former CEO of Starbucks, Howard Schultz, decided to close all Starbucks stores (yes, all of them) for training to address quality concerns. While the move initially cost Starbucks millions of dollars and garnered them unfavorable attention from their competitors, in the long run, I believe it proved to be an excellent business decision.

Schultz thought strategically. I believe he knew that to be successful in the future, he had to demonstrate to customers, investors and the marketplace that Starbucks would take serious steps toward improvement. And he decided that the best way to do that was to shut every store and retrain employees. And it worked.

While the cost of a decision might seem high right away, the long-term ROI and benefits may be unparalleled. When you start thinking strategically, you may find that you can:

• Pinpoint the link between specific projects and broad company goals.

• Address challenges at work rather than solve minor symptoms.

• Stay open-minded, which can positively benefit your work relationships.

• Find the clarity to make achievable, actionable goals.

• Respond to obstacles objectively and patiently.

• Manage your time more effectively.

Put Your People First

Your team is probably stressed about job security. It's your goal to do everything you can to ensure they feel valued. According to research by Oxford University's Saïd Business School in collaboration with British multinational telecoms firm BT, happy workers are 13% more productive. During a time when every dollar and second counts, that 13% could prove to be invaluable.

We're also living in the age of quiet quitting. And if you're chalking this up to lazy or burned-out employees, I think you may be wrong. Quiet quitters may feel stuck at their job, which could be because they're not getting the direction, recognition or motivation they desire, according to a Quartz article.

As Kim Malone Scott, author of Radical Candor, said: "Make sure that you are seeing each person on your team with fresh eyes every day. People evolve, and so your relationships must evolve with them. Care personally; don’t put people in boxes and leave them there."

Of course, you might need to make changes for the business to stay afloat that include layoffs, decreased budget, or fewer merit opportunities. But pay attention to what motivates each of your employees and understand what paths you can clear to make their work more enjoyable, effective and autonomous. Above all, that's what great staff wants, and it's a leader's responsibility to ensure that's possible.

Embrace The Chaos

Let's just accept the fact that not everything is going to be perfect, and that's okay. As an article in the Harvard Business Review says, "aiming for perfection is futile."

That means letting go of unrealistic idealism and the fear of looking bad, failing or making the wrong decisions because, at the end of the day, you probably will.

Whatever you're working with right now, it's most likely less than the norm before the market downturn. You'll make mistakes, but it's not about what those mistakes are, or even how much they could cost you, but rather about how you react to these small mishaps.

How can you course correct? How will you optimize for next time? What lessons can you apply to future planning? How can you use failures as a learning experience for your team?

It may seem scary, but we can find the biggest improvements in imperfection to drive success later on.

Consider The Threat To Creativity

My job revolves around creativity. I lead a team of designers, writers and marketers who work best when they can let their creative genius shine.

Any sudden changes in company culture can thus have an exponentially negative impact on these minds who may choose to play it safe. Staff reduction and budget cuts can put boundaries on the imagination that once produced new and innovative ideas.

As a leader, you need to create some sort of buffer that allows and encourages your creatives to still take some risk. My team recently held a creative "hackathon" to brainstorm ideas for a newly launched GIF campaign, which included content writing, design, video editing and acting. Was this exactly in line with other marketing campaigns in the pipeline? Not really, but it didn't negatively impact them, and it was something I knew my team needed. We came together and did what we do best. And the result was incredible.

Remember That Communication Is Key

I hope that after reading this, you'll be more confident in leading your team through these tough times and come out even stronger than before.

Whether you decide to start thinking strategically, let go of perfectionism, put the focus on your people, or maybe all three, there's never been a more important time to home in on your communication skills and make your goals, expectations and priorities clear.


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