Economics

What Executives Can Learn From The Corona Crisis

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What Executives Can Learn From The Corona Crisis. The corona pandemic poses significant challenges for superiors and decision-makers. Which characteristics count now and which lessons can be learned from the crisis. Since the beginning of March, the corona crisis has also ensured that many things have changed overnight in companies. Suddenly a large part of the workforce was in the home office or had to work under special security measures. In this exceptional situation, managers, in particular, were asked to create new structures quickly.

Survey: Many Superiors Have Coped Well With The Crisis So Far

That seems to have worked well in many places. According to a recent survey by the online job platform Stepstone, the majority of employees give their superiors good marks for their crisis management. Two-thirds believe that their manager will master the crisis in the best possible way. Sixty per cent think their boss has created a good structure for their everyday work and every second respondent said that their boss is currently paying particular attention to the mood in the team and the emotional state of his employees.

Expert draws long-term lessons for leadership!  But by no means all leaders in companies and governments have so far managed to master the COVID-19 crisis with a sense of responsibility, competence, a clear head and real sympathy observe leadership.

The Most Important Lessons For Managers From The Corona Crisis

In your opinion, what is a cardinal error in times of crisis?

It is fatal when those in charge of a crisis want to keep control over everything and over-centralize decision-making. People at the highest management level must empower the people who take on leadership roles at the forefront of a crisis to act independently. For this purpose, orientation must be created through exact values ​​and principles. If decisions are made according to these principles, any errors may not be punished.

What role does time play in such a situation?

A crucial one. The corona crisis has already taught us that countries have gotten the most lightly of it so far, whose governments take drastic measures against the spread of the virus at an early stage. Quick and decisive action by managers in such an acute crisis – without wasting time – is, therefore, an essential lesson that we should take with us. This also means giving preference to speed over perfectionism when making decisions. First of all, the stabilization of the situation and damage limitation is paramount. Then it is crucial to prepare for the time after the crisis. Quick decisions are not always made for all employees and those affected. This is to be expected.

Nevertheless, leadership requires having the courage to do the right thing. Capable leaders also communicate lousy news and uncomfortable truths when necessary, and they don’t shy away from making potentially unpopular decisions, regardless of whether their job depends on it. Effective crisis management requires strengths such as determination, accountability and moral courage.

Many employees are worried – for their health, but also their job and financial security. How should leaders address these fears?

Empathy and empathy are essential in an environment that is characterized by emotions and fears. Through clear, frequent and empathic communication, managers can show real interest and signal that they care about their employees and their situation.

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