Impact of the recession on leadership
The recession has impacted on both leaders and leadership alike. With the tenure of senior leaders shrinking, and leaders becoming ever-younger, the enormity of the current downturn in the economy is a first-time experience for many leaders.
While it's easy to offer banal, one-size fits all views on the economy, there are a number of themes Penna’s Board and Executive coaches are witnessing in their work coaching senior leaders in public and private sector organisations. While there are always sector-specific Challenges, cost cutting and downsizing seem commonplace; innovation has become stifled; mindsets towards new opportunities constrained and command and control, reactive behaviours are typical responses to market uncertainties.
The themes and focus of much of Penna’s coaches work is therefore helping leaders to make sense of the unknown, provide clear direction and communicating clearly to their teams and organisations, making bold decisions and providing visible leadership.
These Challenges manifest themselves in leaders’ operating style too. Here, the leadership Challenges are in developing emotional intelligence (self-awareness and impact on others) motivating self and others, and being inspiring yet authentic at the same time. Coaching can make a practical difference to leaders in all these areas.