As bad news flows in unabated and more and more management blunders come to light, it becomes amply clear that the leadership in many companies have been caught off guard. They are unprepared to deal with a crisis of this magnitude.This simply states that companies have been growing and only focusing on adding to their revenues. Well, they've been putting in enough investment towards identifying and mitigating risks, but perhaps the focus of the management or the risk teams was not complete enough. This is true especially of the large-sized organizations, which have got impacted most, and running around to catch-up.. in a, what's the word - 'Knee-jerk reaction'.
Their cluelessness is confusing their workforce even more. The scrapped projects, brutal layoffs, drastic pay-cuts, sudden top management reshuffles and unrealistic cost cuts all seem like knee-jerk reactions, not the proactive leadership that is the need of the hour.Literally, if one has to look at the various management decisions that come through impacting every nook and corner of the organization, one would stand in awe witnessing the incompetence of their management to gauge and forecast with little accuracy about what may happen, what steps are to be taken. The incompetence displayed in forecasting is simply frustrating to employees. Though CEOs and Management pundits have been harping that 'the crisis is unprecedented' and 'times are uncertain', given the rapidity of the financial crisis that has struck corporate India, managements not being able to even see through a month or two if not a quarter, is perhaps sheer incompetence. I never though some journalist could be so blunt in mainstream media in their critique about the 'management boards' of Business India, but I was happy it came out. I only few days back wrote about this pattern of new decision a day and how it's impacting employees psyche at work everyday they step into their offices to work.
All the jing-bang around proactive leadership by top management is demonstrated at such times. Which is absolutely 'non-existent' in many organizations. Ha! What's expected from the lesser managers!?!
As Warren Buffet famously said, “It’s only when the tide ebbs, you find who is swimming naked”. Sadly, in this moment of crisis, many leaders have been found without the proverbial fig leaf to hide their shortcomings.Just a few days ago, that I quoted this to someone. Well, as aptly as it's put here, the world is watching which are all the companies that were swimming naked. This crisis, if not anything, will make the genuinely strong corporations stronger, and the naked ones to disappear.
In all this game of talent, moolah and market share, unfortunately the management indecisiveness is costing employees dearly. As the saying goes, what you sow today, you will reap tomorrow. All such indecisive managements of business organizations better beware!