COVID-19 has affected nearly every business in the world, and not all have come out unscathed. While some businesses have closed permanently, others have made it through the thick of it and come out on the other side. What distinguished those that folded from those that survived? Randal Gindi, a real estate investor and business professional from Brooklyn, New York, believes it in part came down to leadership. Steady corporate leadership has the ability to make or break a company. Having a strong leader not only impacts your internal staff, it also impacts the perception of your business to the consumer.
Mr. Gindi has a keen eye for business, an astute insight into market trends, and strong leadership skills. He is a firm believer that corporate leadership in 2020 is the key to weathering the storm that is COVID-19. He outlines exactly what it takes to demonstrate strong leadership amidst COVID-19.
Recognize the Impact of COVID-19
The first way that businesses can display strong corporate leadership in 2020 is by recognizing the impact of COVID-19 on their employees. Acknowledging the uncertainty surrounding COVID-19 that many employees were and are still feeling is a great first step. This way of thinking is centered on emotional intelligence, which is another trait that steady leaders must possess. Have empathy and compassion for your workers by making clear that you understand that priorities for nearly everyone have shifted away from work and towards the health of their loved ones. A leadership strategy that takes into account the human aspects of their employees is going to be much more successful than one that doesn’t account for this. Veer away from being rigid, update your human resources policies to reflect the new reality we’re living in, and do what is necessary to safeguard the health of your employees. Randal Gindi claims that the businesses which acted quickly at the beginning of the pandemic, sending their employees home, getting them set up with at-home offices, and ramping up cleaning and sanitation measures, were the ones that have had the most success in the long-term.
Know How to Prioritize
Businesses in the middle of a global crisis like COVID-19 are often left to face a multitude of urgent issues all at once. This makes COVID-19 a true test of leadership in 2020. Randal Gindi asserts that another key trait of steady corporate leadership is the ability to prioritize. Now more than ever, prioritization is critical. It is impossible to resolve every issue facing your business at once. Instead, you need to be methodical and strategic about the order in which you approach each issue. You’ll need to consider what is best for your business, your consumers, and also look at what companies have done in other countries such as China who were dealing with the pandemic before companies in the United States.
There are a couple of actions strong leaders need to prioritize during COVID-19. First, set up a command center or emergency response team whose sole job it will be to assess risks relating to your business and COVID-19 and to develop responses for your business based on these risk assessments. Second, focus on the immediate needs of your employees. This includes an emotional response, as mentioned above, but also a logistical response, such as getting workers set up with a home office as soon as possible. If working remotely during the pandemic is not an option for your business, then you’ll need to immediately create or update existing human resources policies relating to sick days and COVID-19. In essence, do what you need to do so that internally, your company can continue to function amidst COVID-19. Third, Randal Gindi claims that leadership in 2020 should be prioritizing the supply chain. Many supply chains were disrupted due to the pandemic, so now it’s time to figure out how you can pivot and mitigate the impact of these disruptions. Start looking into parts of your supply chain that can be taken over domestically and do what you can to overcome labor shortages.