Skip to main content

LEADERSHIP: Soft Communication for Hard Times

OFTEN, LEADERS ARE NOT sure how to balance soft leadership skills such as trust and communication with the more hard line leadership approaches (read: retrenchments, realignments, cost cutting) during tough times. Research indicates that the greater the stress an organiation is facing, the more important a leader’s soft-skills, especially communication skills become. Research has found that there are four important characteristics associated with leaders of the subcontinent, who were most successful in leading their organizations through transitions:

Make Relationships a Priority:

Especially in the subcontinent, companies are about people and relationships. Leaders cannot afford to become cynical or negative during times of turmoil. They cannot remain insensitive to employee needs or be seen as inaccessible. They are expected to be caring and empathetic, giving importance to relationships even during tough times.

Maintain Constant Communication:

During tough times, people are more vulnerable and hence ensuring a constant flow of communication is a must. The need for information is so great that when people do not get it, they would invent it; the void gets filled with media speculation, rumours and inaccuracies. Hence, leaders need to remain sensitive to their people’s needs and need to focus on providing them with up-to-date news about their company and plans.

Keep People Reassured:

Leaders can actually do a great deal to keep the company on its feet, just by reassuring their people. People are normally distracted and threatened during bad times - they keep imagining the worst, and gentle reassurances about the long term vision and how they would tide over the crisis can go a long way in channelising energies and stimulating performances.

Make People a Part of the Solution:

Catch-22 gets to work during recession times. If people are not constantly occupied, they would give in to rumour mills. At the same time, it is very easy for people to be without work. During times like these, leaders create work and in turn excitement for their people, by making them part of the solution. This helps them feel a sense of control and security. A good example is Reliance Industries during 1989, when their Patalganga refinery was completely submerged in the flash floods. Even as the managers of Du Pont declared that it is virtually impossible to get the project on track in time, Dhirubhai Ambani knew that nothing was impossible if his employees put their hearts and minds in to it. As the foreign consultants looked on, every single employee worked round the clock, sweeping the floor, dismantling the machines and cleaning them, restoring the refinery back to shape in less than three weeks.

LEADERSHIP TAKEAWAY:

Use communication skills — constant, gentle, reassuring and that which puts your people at the centre of action — to tide over tough times.

Popular posts from this blog

Mutual Fund Review: Taurus Tax Shield

    Taurus Tax Shield has seen a turnaround in performance since 2007, but still remains a volatile offering… The fund has seen a turnaround in its performance since 2007 and has delivered impressively during market rallies since then. The portfolio is also more diversified. It contained its downfall to an average level in 2008 but is still one of the most volatile offerings in this category. Bold investors can look at this fund.   Strategy The fund manager invests across the market capitalisation and sectors. The selection of stocks is made on the basis of long-term business prospects and value creation. Fund Insight Launched in March 1996, the fund was a laggard with just two annual outperformances. Concentrated stock bets and high exposure to mid and small caps led to it being hit harder during market downturns. The number of stocks in the portfolio never exceeded 20 and it was not rare to see the top 5 holdings account for around 60 per cent of the portfolio. After b...

NRIs and direct taxes code (DTC)

DTC Proposes To Do Away With Special Provision That Allows NRIs Liberalised Duration Of Stay In Country      THE new direct taxes code could bring a large number of global Indians under the tax net, as it does away with a provision that allowed individuals to escape tax in any country citing double tax avoidance.    The new legislation, introduced in Parliament on Monday, says an individual shall be a resident of India in any financial year if he is in the country for more than 59 days in that year, and has been has been India for more 365 days in four preceding financial years. A number of Indian industrialists including Vedanta's Anil Agarwal and Essar's Ravi Ruia have acquired non-resident status over the years.    The DTC has only attempted to clean up the provision in line with the laws globally. A phrase "being outside India" in the existing income tax law exempted individuals who stay outside the country for six months from paying taxes. This was prone ...

AXIS Long Term Equity Fund - The Best Tax Saver Fund for 2016

  AXIS Long Term Equity Fund - Invest Online   History:   The open ended mutual fund was launched on December 21 in the year 2009. It is benchmarked against BSE 200 and managed by the fund manager JINESH GOPANI. Initially the scheme was called as Axis tax saver fund but later it was renamed as Axis long term equity fund with effect from September 2, 2011. Nature of investment: As far as asset allocation is concerned, 97.52% of the stocks are equity and 0.02% is debt based. The primary focus of the fund is to invest in diversified equity stocks that have higher growth potential. Total asset size of the fund is in the tune of 4,996 CRORE as of June 30, 2015. Performance: The performance of the fund for one year, 3 years and 5 years are 23.6%, 29.9% and 19.1 respectively which are far greater than 6.4%, 14% and 5.6% benchmark figures. It has also preformed fairly well against SBI magnum Tax Gain (G) and HDFC tax saver (G). The growth comparison is enumerated below;                        ...

IDFC Classic Equity Fund

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)   IDFC Classic Equity Fund IDFC Classic Equity is a large-cap equity fund which currently has assets under management worth Rs. 158.52 crore. It was launched in August 2005. The fund is benchmarked against the BSE-200 Index. Performance YTD 1-Year 3-Year 5-Year Since Inception IDFC Classic Equity 0.93 26.61 6.30 1.01 11.65 BSE 200 1.52 17.31 6.00 1.99 12.98 All figures in % as on January 31, 2013; Returns above one-year in CAGR terms ...

Stick to Good Fund Manager who Can Multiply Your Investment

A manager may be the difference between the best and worst funds. Here's how you can find the right one    Does a mutual fund manager make a difference to your investment? The answer may not be as easy as you think, since most best-performing mutual funds have moved away from individualistic fund management to process-driven methods, limiting the scope of an individual's role in investment decisions. In fact, many fund managers would speak at length about how the "system" their fund house has in place makes their task of picking stocks easy even though it restricts their freedom. Still, the question is important, especially after recent reports that the Securities and Exchange Board of India ( Sebi ) may ask fund managers to disclose to investors their track record of managing money. Let us take a look at the universe of large-cap funds over the past five years. According to Value Research, an independent mutual fund tracking firm, the topper in the category is DSP...
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now