by Homy Invest
Nowadays, the pandemic exposed many C-Suite level weakness in taking brave decisions bounded by high risks considerations where many chiefs are not autonomous and easy to distract their level of trust. Just remember one fact, you are in this level to take hard, brave, risk calculated decision to maintain the company main goals strategically not to be freezed and hang-over due to pandemic…
unfortunately, chiefs did not think of adoption in proper, positive mentality; instead, they have spread fears and uncertainty among their companies on all levels and this is why we see today stocks are going down, many deals are on-hold, hiring on-hold or cancelled, and payment delays…
Everybody knows, the economy has got into long recession time due to the pandemic; the cash flow is in-bad shape in many companies; but the worries and fears spread by chiefs were the worst by delaying hard decisions which is basically their main task rather than thinking quickly on how to adopt the changes imposed by the global pandemic…
Definitely, each chief has different dynamic parameters with unknown variables to control, but rather than cause a global panic by easy solutions, you should limit the collateral damages, just to clarify it in simple language, here we go…
Decisions worsen the recession during pandemic:
- Following the book of C-Suite level
- Employees terminations
- Employees cut-off salaries and benefits
- Delaying on-going projects or slowing it down purposely
- Delaying or holding the payments or other commitments
- Doing everything to keep C-suite level end-year bounces
- Canceling many projects, trainings, workshops and partnerships
- Working on pilot mode or safe-mode status
- Preparing the way-out strategy before the Partners/directors board’s meeting
- … and many other decisions led by fears and ambiguities
Now, you will say, don’t fool us as you are not aware of our tough situation with investors, stakeholders, or the greedy board… then, we will show you some made decisions by many Chiefs around the world who have more harsh situation and here are those decisions:
- Thinking out of the box by empowering the online work-at home tech
- Generate a new employees contract for permeant or at least the coming 3 years to work remotely with less benefits
- Introduce commission benefits rather than fixed ones to keep motivation but without affecting the budget
- Evaluate the on-going project and offer share partnerships with contractors, suppliers to keep the autonomous level high
- Force financial/accounting to work by start negotiating to properly scheduled the payment and work mindfully on cash-flow rather than following the normal steps
- Being an example, and cancel c-suite level bounces for the next 2 years – so employee will trust you as a leader
- Get more online coaching, trainings, workshops, study programs for all employees as new benefits to develop their skills during lockdown time
- Perform the “change management” you were trained on by executive coaching to limit side effects
- Be brave and face the stakeholder of this special circumstances rather than focusing on profits and numbers
- Don’t run-away and interact properly with every negative side or decision as a Chief not as a greedy manager…
By the way, we don’t want to mention names or companies who adopt the change professionally, and they were hiring during the pandemic where their profits go sky-high until today because of smart chiefs who deserved to be at the C-suite level…
In short, think innovative and utilize your true talent effectively… Don’t follow the book, for something out out of the book!
