My views as a business leader - navigating the way forward in times of uncertainty

Any business leader will probably tell you that guiding their teams through a global pandemic and an economic boom followed by a possible downturn is not what they signed up for in 2019. In the last few years, the world of work has changed radically and there’s no going back to how work was done pre-pandemic.?

New LinkedIn research shows that businesses globally are concerned that economic uncertainty will force companies to wind back progress made during the pandemic on important areas of working life - such as flexible working, skills development, and employee wellbeing. But this is at odds with what employees want.?

It’s become abundantly clear to me that people want flexibility. Talk to any candidate (particularly Millennials and Gen Z – the future of our workforce), and most will tell you that they either wish to stay remote or be a part of hybrid work cultures.? But worryingly, our data shows that only 38% of APAC leaders are willing to keep offering their teams the level of flexibility and freedom they had previously encountered.

Leaders are having to make tough choices. What do we do when there are conflicting interests between employers and our talent in the midst of economic uncertainty?

Let me share my views on navigating an uncertain world of work with you.

Adaptive Leaders Build Stronger Teams?

Global economic volatility is putting leadership to the test. While uncertainty is challenging, it can also be a real opportunity for business leaders ?to take an adaptive leadership approach to unlock opportunity, create an agile workforce through skills-based hiring, and cultivate soft skills to keep their workforce engaged and motivated.?

In our research, we found that only 22% of APAC leaders agree that adaptive leadership is the top skill required to navigate the current economic climate. Another 23% believe that maintaining workforce connection, trust, and transparency is crucial. I believe that the two are interconnected. Being open with clear, consistent and frequent communication is important to maintaining employee trust. Being transparent about the current reality and adapting to what lies ahead is also key for business, whilst providing employees with clarity on short-term priorities.?

Forward-thinking leaders that invest in their people during these times will be the ones that outperform competitors and come out stronger.

Upskilling can Fuel Retention

Our data also shows that to attract and retain great talent, employers must focus on skill development. Investing in skilling allows businesses to stay nimble amidst uncertainty. The good news is, 44% of leaders in APAC said they are focused on redeploying employees based on their skills. An investment in our own skillsets is ultimately an investment for the entire business and teams we lead.

We now have a golden opportunity for business leaders to adapt skills that will help us future-proof our organizations and keep our most valuable asset – our workforce – engaged, motivated, and invested. Great leaders understand the skills their employees have today, the skills their company needs in the future, and reallocate talent into growth areas, encouraging internal mobility and giving employees access to new career opportunities.?

A skills-first mindset is a win-win solution to the tension between employees wanting to be upskilled to advance in their current companies and employers struggling to get talent with the right skills in the right roles given the tight labour market.??

Your next best hire could already be working for you.??

Commit Yourself to Constant Improvement and Learning?

When we asked APAC leaders about the top soft skills, they need to navigate the current economic climate, one area of agreement was clear - problem-solving. This was followed by communication, creative thinking, and transparency. The great thing about these skills is that many can be acquired.?

Some people are born leaders and many, like me, are continuously honing leadership skills. Great leaders are those who see this moment as an opportunity to look into the skills they should be sharpening.?