Leading out of crisis in business is something different. Crisis brings uncertainty, ambiguity and fear. It can be a matter of magnitude. For business leaders in organizations, every crisis leaves certain learning. It ranges from unique pressures and unusual demands arising out of situations and identifying grey areas to keeping emotional distress under control and diminishing fear by providing tactical guidance.
It would not be correct to assume that crisis leaders possess some different set of skills, competencies and abilities away from traditional traits like decisiveness, communication and motivation etc. These traditional traits also play a crucial role in crisis but with certain refurbishing, enhanced and deep thinking with a mind frame of openness to think and welcoming 360 degree views, willingness to take risks and confidence of overcoming the crisis.
Crisis leaders think beyond cost and revenue profits. They keep people agenda on forefront. Such leaders develop collaborative "can do" mindset in the organization, dispel fear, don't hide themselves, explain what organization is doing, strengthen the employees connect, seeing beyond the immediate, anticipate and prepare to handle that and keep managing the responses separate from leading the crisis. Normally, what happens that crises are overly managed and remain under- led in organizations that develop certain complexities for the future. When you over manage, focus is restricted to the present only instead of taking a long view. Success in leading through crisis depends upon the element of trust and delegation among people in organization, developed and exercised by leaders.
Apart from the crisis, pandemic has caused in business in India, one more thing has happened simultaneously.
After Code on wages Act in 2019, Govt. has completed the major task of overhaul of labour regulations by clearing the remaining three more codes on social security, industrial relations and occupational health and safety in sep. 20. All the four codes have attained the status of Acts as President of the Country also accorded his assent. Only remaining part is drafting of rules under each code and then making them enforced which is also intended to be done by April, 2021.
With this big "Reform" in business labour market, there are different opinions of stakeholders. While employing community term these changes in labour laws as an opportunity to help building an environment of ease of doing business and attracting FDI, Unions have expressed their anguish over these "sweeping" changes making working class more vulnerable and deprived. Their apprehension is that their rights are squeezed and job security will be a matter of past.
To understand how leaders should lead out of crisis and press ‘re-set’ button work on business priorities and impact of changed labour regulations, we decided to bring out the joint mega issue by merging Nov. and Dec. 20 issue in one.
So, It has two cover stories fully packed with power of knowledge.
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