When times are good, leading a company or a team is exciting. Opportunity is everywhere and people are happy. However, in a crisis the positive energy is often replaced with stress, frustration and at times fear. Customers retreat, employees feel heightened pressure and fear for their jobs.
In crisis conditions, leaders need to rise up to manage both tactical and emotional factors to navigate through the challenging period and make it out the other side.
Research has shown that companies with effective crisis response saw their stock price recover quickly, closing an average of seven percent above their pre‐crisis price one year after the crisis. (1)
Let’s take a look at what sets successful leaders apart when leading through a crisis:
With effective leadership, crisis challenges can be overcome. Leaders who support their people and learn to adapt will not only survive these challenges, but come out the other side stronger than ever.