Five trends that change companies
The last two years have been a stress test, not only for companies, but also for employees and leaders. The geopolitical crisis and the one in the energy system are added to the challenges. Many trends are at play and change companies.
For leaders, pressure can be an incentive to pivot, but they have an endless series of back-and-forths to manage hybrid teams and hit all the moving growth targets while reprioritizing goals.
Enhanced resilience and adaptive leadership skills are essential, and the most important challenge facing leaders now is how to perform under constant pressure in a world redefined by the new normal.
That’s why it’s useful to see what are the five trends in the business environment that help leaders feel more confident in their performance, even if change is part of the everyday landscape.
Harnessing emotional intelligence
Understanding, recognizing and harnessing emotional intelligence is crucial for leaders to perform under pressure. Conversely, lack of awareness of emotional intelligence risks perpetuating a deficient organizational culture, leads to burnout and inhibits the ability to achieve results.
Improving emotional intelligence must train the ability to perceive one’s own and others’ emotions, understanding why a person expresses emotions, using emotional mechanisms to make decisions, and the ability to regulate emotions.
Thus, to be able to perform under pressure leaders must pay attention to how the words are said, recognize when they have not done well and ask for feedback, make emotional predictions and check their accuracy, sleep well, practice mindfulness and be more present.
Data-based decision making
Constant change puts pressure on leaders to make quick decisions. Data thus becomes very important. Access to good quality data helps leaders make objective, fact-based decisions in a dynamic and high-stakes context.
In conflictual decision-making situations, data (re)conciliates diverse points of view. That is why the integration of data in the decision-making process makes it possible to unite seemingly disparate points and create agreement. It also means defining priorities and ensuring balance between financial goals, employee health and well-being.
The integration of data in the decision-making process also means a necessary exercise of critical evaluation. There are no guarantees that good data automatically means good decisions.
That’s why questioning working hypotheses, comparing with other similar situations or realizing several scenarios, gives leaders a better position in the decision-making context.
Effective management of hybrid teams
Managing hybrid teams and adapting management tools to a diversity of new roles is imperative for leaders to perform under pressure. Leaders need to know the needs of colleagues and their level of expertise to capture their potential when under pressure.
If they know how to rely on a good mix between physical presence, in the office, and remote work, leaders can increase the productivity of the team, as well as their ability to cope with stress.
So, managing remote teams means getting to know your colleagues, avoiding micromanagement and encouraging hybrid work.
Acceptance of uncertainty and critical thinking
Critical thinking focuses on a structured approach to accepting uncertainty, looking at different perspectives and integrating the needs of stakeholders into the decision-making process. Critical thinking helps leaders maintain their composure and make nuanced, context-sensitive decisions that fit the needs of the situation.
The process begins by taking a pause that gives the leader the opportunity to step out of the fast pace that the urgency imposes and to move to the calm necessary to see the context.
Then the process involves reflection, making a retrospective of previous situations, with their successes and failures, for a more balanced perspective that becomes part of the awareness of the big picture.
Alignment of digital and human elements
Customer demands have changed significantly in recent years, forcing leaders and organizations to rethink business strategies under the pressure of digital transformation.
As online shopping has grown significantly, to improve customer service, companies have turned to improving digital experiences.
Pressure has steadily increased on companies and leaders to think about how and where they can implement digital technologies. In this context, leaders will continue to face difficult decisions in knowing what to insist on in order to have relevance and value to customer needs.
So, leaders are now challenged to create harmony between the digital experience elements and the human interactions that customers value.
Alina Făniță este CEO și Partener al PKF Finconta. A lucrat cu companii multinaționale sau firme antreprenoriale din domenii diverse de activitate, pentru a le oferi servicii de audit financiar, due diligence, restructurări de grupuri, audit intern și alte servicii conexe activității de control intern. Este membră a celor mai prestigioase asociații profesionale din domeniu: ACCA (Association of Chartered Certified Accountants), CECCAR (Corpul Experților Contabili și Contabililior Autorizați din România), CAFR (Camera Auditorilor Financiari) și IIA (Institute of Internal Auditors). A absolvit EMBA Asebuss la Kennesaw State University, a fost trainer pentru cursuri IFRS și este invitată ca expert la numeroase conferințe de business. alina.fanita@pkffinconta.ro
