Ep.64/ How to Excel as a Leader During Economic Instability
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It's time to address the elephant in the room – the impending recession and the current economic instability that has left many feeling uneasy about their careers. Times of instability mean that it’s more important than ever before to be a standout leader and look after your team. In this blog we dive into 3 strategies to adopt to show up as an excellent leader.
1. Leading with Empathy:
As leaders, our first strategy is to lead with empathy. In times of economic downturn, people crave understanding and assurance. It's crucial to create a safe space for your team to express their fears and aspirations openly. Listening more and talking less fosters an environment of trust. Everyone has unique goals and perspectives, so encourage open communication without dismissing ideas. By understanding your team's needs and concerns, you can provide the support necessary for their professional growth within the organisation.
2. Regulating Your Nervous System:
The second strategy is perhaps the most vital – regulating your nervous system. Maintaining emotional composure is key during stressful situations. Implementing practices like meditation, exercise, and talking about your feelings can significantly contribute to a balanced state of mind. Taking three deep breaths before reacting allows you to respond thoughtfully rather than impulsively. Embrace activities that bring you joy and fill your cup, promoting a sense of control amid external uncertainties. Remember, regulating your nervous system not only benefits you but creates a calming atmosphere for those around you.
3. Taking Self-Responsibility:
The third strategy revolves around taking self-responsibility and encouraging it within your team. Admitting mistakes and proactively seeking solutions demonstrates strong leadership. By owning up to errors, you set an example for your team to do the same. Adopting a coaching approach when addressing mistakes helps team members analyse their actions, fostering a culture of growth and accountability. In challenging times, self-responsibility becomes a powerful tool for personal and professional development.
Wrap up
As we navigate the challenges of 2024, the choice is yours as a leader. Will you be the pillar of support and encouragement, or will you contribute to a sense of fear and insecurity within your team? These turbulent times offer an opportunity for growth and resilience. By leading with empathy, regulating your nervous system, and embracing self-responsibility, you can emerge as a standout leader in the year ahead. Remember, the way you show up today shapes the leaders of tomorrow.