How to Lead Your Team Through Economic Uncertainty
Without Losing Your Mind or Your Momentum
I’ve often talked about the Magic Portal that managers incorrectly think exists. This is the idea that once they walk through the Magic Portal and start working, that all outside thoughts and influences disappear. Life is not the TV show Severance (which I have not seen by the way, but it is on the list).
Sometimes those external factors impact everyone the same and, just like the individual ones, we can’t ignore them. The turmoil in the financial markets of the last few weeks is the perfect example. You and your team probably don’t have any control, but it could impact everyone financially, personally, and in their career. After all, if the economy looks risky, orgs start to hold back on spending and other things that can directly impact the team.
Your team is watching you. How you respond during these times says more about your leadership than how you perform when everything’s smooth sailing.
So, what should you actually be doing when the economy starts to wobble?