Loading…

Leading through a crisis: A study

Originally published in BSA Society Matters magazine.

By Deborah Cooper, Miles Advisory

Originally published in BSA Society Matters magazine.

Cover-for-website-and-social.pngThe people aspects of operational resilience have long been considered important. But the current Covid19 crisis has been of a scale and level that has tested this like never before. It is within this context that we are leading a study asking 100 Chief People Officers/ HR Leaders what can be learned about leadership from the current crisis. And does this change anything about what we believed constituted great leadership prior to this? 

Our study remains live until the end of June, but we have been asked to share some of our early insight to support Societies in considering what they see themselves needing to get right to ‘bounce forward’ into a successful future. Our fuller findings will be published at the end of the summer.

When asked, from the perspective of their own organisation, what did the CEO and Executive team get right there is a strong consensus around the themes of speed of response, pace to decision making and the emphasis on ‘highly visible’, ‘regular’, ‘’human’ and informal’ communications. Overall, all emphasised that they had adapted well to the technology and infrastructure required to the needs of working remotely. For many, there has been a seismic shift in acceptance of moving to a 90% plus WFH model. And for many cynics it has dispelled the myth that employees are less productive when outside of the office. Indeed, many have seen a rise in productivity, employee engagement and tangible increases in their customer NPS scores.

When asked what they might have done differently, most believe it is early days and intend to thoroughly review lessons learned over the fullness of time.  What is clear though is that the digital agenda and agile working could have been accelerated prior to this. There is also a strong consensus around intent to build on the positive changes including the addition of greater flexibility and innovation into business models.   

miles-adv.png

When asked to consider, what are the key leadership capabilities that will make the difference between organisations thriving or failing, the three key themes were: strategic and critical thinking, transformational leadership and the ability to truly deliver to agreed outcomes rather than be activity led.  Many agreed that they had leadership frameworks which reflected much of what is required as the world has been changing for some time. But that now ‘we really need leaders to deliver what we’re asking of them from this’ which suggests an opportunity gap.

When asked to consider one aspect of leadership, above all others, that executives in your organisation have got to get right in the next 12 months typical responses included needing to ‘balance well-being with not losing sight of the commercial reality’, ‘strong operational execution’ and ‘transformational oriented people leadership’ and continuing to come across as ‘human and purposeful’ in all that we do.

For societies to maintain high levels of operational resilience a continued focus on investing in the people change agenda is required.  This requires Boards supporting and challenging the executive and its leaders in putting in place clear measures around the well-being of their people, the focus on continual communication and reinforcement of their purpose as well as to continue to be visible and seen to ‘do the right thing’ for a sustainable future.

For more information please contact Deborah Cooper or visit miles-advisory.com

 

You may also be interested in...

BSA Card
  • BSA.Event Event
  • Conduct Risk & Regulation

Navigating Consumer Duty in Finance: Linking Customer Experience to Customer Operations using AI

A free event hosted by Kerv Join us to discover how you can be taking advantage of the new consumer duty legislation to make your customer experien...

BSA Card
  • BSA.IndustryResponse Industry Response
  • Conduct Risk & Regulation

FOS Consultation on charging Claims Management Companies & other professional representatives

The BSA strongly supports the principle of charging a fee to CMCs.

BSA Card
  • BSA.Event Event
  • Conduct Risk & Regulation

Annual Update & Networking for Boards

This autumn, the BSA is running its first event designed specifically for Board Members (Exec and Non-Exec) and Board attendees. This in-person e...

BSA Card
  • BSA.Event Event
  • Conduct Risk & Regulation

Consumer Duty: Navigating Board Reports

A free webinar hosted by BSA Associate, docStribute docStribute and Woodhurst are collaborating to bring you this webinar series. Following our pre...

BSA Card
  • BSA.Event Event

Building Societies Annual Conference 2024

Building Societies Annual Conference 2024 8th -9th May, Manchester   The Building Societies Annual Conference is the leading event in the secto...

BSA Card
  • BSA.Event Event
  • Audit & Taxation

Audit, Risk & Regulation Autumn Series

This year's annual update returned in a brand new format with a series of topical webinars covering key areas of audit, risk and regulation. This...

BSA Card
  • BSA.Event Event
  • Conduct Risk & Regulation

Consumer Duty: Linking Customer Outcomes to Customer Experience

A free webinar hosted by BSA Associate, Protiviti This webinar will explore ways firms can effectively test, monitor, and report customer outcomes ...

BSA Card
  • BSA.Event Event
  • Conduct Risk & Regulation

BDO's Financial Services' NED event: Consumer Duty Board Champions

BDO’s Financial Services’ team is delighted to invite you to our first FS NED event for 2024, to discuss the Consumer Duty’s ("the CD") next phase of ...

BSA Card
  • BSA.Event Event
  • Prudential Regulation

Preparing for successful regulatory visits

Two half-day sessions on 24 & 25 January 2024

  • BSA.IndustryResponse Industry Response
  • Conduct Risk & Regulation

GC23-2 FCA Guidance consultation on financial promotions on social media

Our response to FCA GC23-2