Week 3 leadership conversations in a time of crisis

Most leaders seemed to be calmer this week while recognising this is not going to be over quickly. Many of the business I’ve been talking to are on the brink of extinction as they see their cash evaporating with govt help weeks away. Most are scrambling for survival. However there is a stoicism and a spirt of resilience and defiance.

CEO 1 Week 3 and we’re still here the big issue is cash we’re waiting for Govt money but it’s weeks away. Other businesses are hanging on to their cash and aren’t paying us this is difficult but unless we all do our bit for our suppliers the whole system will grind to a halt.

MD1 My team have been amazing I am keeping the tone upbeat on our daily calls but inside I am thinking we may not make it! My sleeps being affected but a walk each morning seems to help me get set for the day ahead. 

HRD 1 The unions are going to have to work with us it’s not just about getting though this, it’s about what shape we’re in when we get to the other side. They don’t understand the game has changed for ever.

CEO 2 We’ve now got staff with Covid and others with family members with the virus. People are being supportive but it really brings it home this is a matter of life and death. It puts the business issues in context.

HRD 2 We’re doing fine, the revenue situation is ok I just can’t get enough people to run the operation a few are ill, many are self isolating and loads have childcare issues. We’ve also not got the technology to make this easy and it’s all a bit Heath Robertson!

But our people are doing their best in the circumstances some times I feel so proud of them.

MD 1 We’ve had to let about 30 people go. I’ve got another 120 on furlough. This is horrible you feel like your letting people down it’s not their fault but I’ve got to help the business survive or all 500 people won’t have have a job to come back too.

HRD 3We’ve made some tough calls but I was delighted when the CEO decided off his own bat to phone ever single person we made redundant and explain the situation that we had no choice. He also explained that they have done nothing wrong and he will give them priority when we start to rehire. It’s how you do these things that matter.

MD 2 We’ve seen some green shoots a couple of clients have decided to keep on hiring!! They are taking the opportunity to grab some great talent. Long may it continue.

MD 1 We weren’t prepared for this our contingency plans in all honesty were pathetic. Once we’re through this we’re going to have to learn the lesson.

HRD 3 Had to let people in my team go and send others home. Everyone is being so strong....sob....this is so so hard.

Reflections on week

Leaders can now see the size of the challenge ahead they are waiting for both cash and a defined exit strategy from the Govt, before they make any further decisions.

The underlying pressure and stress is building as the adrenaline now starts to subside.

Leadership teams are working well on the whole it’s the human side that I think needs attention this week, really checking in on how people are feeling, exploring what’s going on for them at home it’s not about providing answers it’s about empathising and listening.

I’ve done a few webinars and podcasts on one of these I was asked the economic difference between this event and the last recession.

I said to me this feels more like a asteroid has hit the plant 75/80% of the economy has ground to halt overnight. It’s very different to the last recession where we could feel it coming for 6 to 9 months before it bit this was sudden and much more severe.

One example is unemployment in the last two weeks over 950,000 people have registered for universal credit the vast majority will have been made redundant. It took 3 years (2008 to 2011) in last recession for a 1 million people to lose there jobs and that’s with the govt support available this time !

So leaders look after yourself this week, sleep well, get fresh air, eat well and exercise it’s critically important that you can optimise your performance when your business needs you the most.  

Kevin Green

5/4/2020