Be a Leader During a Financial Crisis

In an age where high-tech gadgets and GPS didn’t exist, ship captains relied on compasses to guide them during a storm. They also trusted their instincts; guided by an internal compass when it came to weathering the storm and keeping their crew safe.

You are the leaders, the captains of your business. You need to follow your internal compass; beliefs, values and principals that guide you. Breaking away from your internal compass in times of crisis can lead to “quick fixes” in an attempt to save face. Leaders who successfully navigate their employees through a crisis are the ones who are focused on their leadership principals and have stayed true to their internal compass. PrideStaff Financial can help steer you in the direction you want go and understands the importance of getting through difficult times.

• Face It, There’s A Problem. You can’t solve a problem if you pretend it doesn’t exist. Others rely on you as a leader to guide them through difficult waters, and if employees feel they see the problem but you don’t then it diminishes the trust you have built with your team. Recognition of the crisis, as a team, is the crucial first step before problems can be solved. The biggest mistake leaders make is thinking they can go it alone. To be effective as a leader you need to first acknowledge there is a problem; second rely on your team and anyone else willing to help you solve the problem. In times of crisis many leaders go into isolation, cutting themselves off from sources of help. In order to devise solutions and implement them you need to be willing to listen to the ideas of others.
• Make a Sacrifice Before Asking Others. This can be challenging because it means acknowledging that sacrifices will need to be made. As the leader, you need to step up and be willing to make the greatest sacrifices yourself. Everyone’s watching to see what you as the leader will do. Have you stayed true to your internal compass? Have you stayed true to your leadership principles? If others see you taking short cuts, you will find that when the time comes to ask them to sacrifice you will not have the support you need. Make the sacrifices that need to be made, and confront the crisis in a straight forward manner. This will show your employees that you are willing to do what needs to be done to get through the crisis and that you’re willing to do it as a team. You will find more people willing to make sacrifices if their leader has shown them the way
• Work As A Team And You’ll Find A Solution. The biggest competitive advantage you have is teamwork. Many companies today still underutilize this advantage because they don’t see how effective and powerful it truly is. Teamwork relies on three simple things: realize that people are not perfect, communicate often AND be willing to listen, and allow humility. Being a leader does not mean you have to have all the answers; sometimes the best leaders are the ones who acknowledge they need help from others. Turn your team into your asset and you will find your business stronger after the crisis!

Dig deep! Let PrideStaff Financial help you turn your crisis into an advantage. Our financial recruiters will help you rebuild and restrengthen your business. Contact your local PrideStaff Financial office today!