Building resilience
In the past few years, organizations have been hit by more shocks than in the previous decades, forcing them to adapt and build resilience —an organization’s ability to withstand a change or challenge, then emerge stronger from it — at a pace that few are prepared for. The advantages of building resilience include faster and more dynamic decision making, greater efficiency, stronger and more adaptable leadership, and an environment that is more attractive to top talent. Resilient organizations are more likely to demonstrate better shareholder returns and excel at integrating new technologies, supporting customers, building partnerships, and attracting and retaining employees.
For building resilience, organizations should prioritize four key efforts:
- building champion agile principles like fast decision making and “good enough” outcomes so teams can test, learn, and adjust to circumstances as needed.
- empowering teams with psychological safety and self-sufficiency by holding them accountable and giving them ownership of outcomes.
- finding and promoting adaptable leaders who are willing to coach colleagues and nurture new behaviors and mindsets.
- making an investment in talent and company culture.
To foster a more resilient organization, leaders should focus on developing certain behaviors and mindsets—both on their part and from their teams. These can include finding lessons and opportunities in situations, acknowledging the nuance of workplace paradoxes like correct versus incorrect, and challenging colleagues to step out of their comfort zones. Leaders should champion purpose and well-being.
Mazharul Islam,
Corporate Legal Practitioner,
Member of Harvard Business Review Advisory Council.
He can be reached at mazhar@insightez.com
