Pressing 'Re-set' Button
Leading out of a crisis in business is something different. Crisis brings uncertainty, ambiguity, and fear. It can be a matter of magnitude. For business leaders in organizations, every crisis leaves certain learning. It ranges from unique pressures and unusual demands arising out of situations and identifying grey areas to keeping emotional distress under control and diminishing fear by providing tactical guidance.
It would not be correct to assume that crisis leaders possess a different set of skills, competencies, and abilities apart from traditional traits like decisiveness, communication, and motivation. These traditional traits also play a crucial role in a crisis but with certain refurbishing, enhanced, and deep thinking with a mindset of openness to think and welcoming 360-degree views, willingness to take risks, and confidence in overcoming the crisis.
Crisis leaders think beyond cost and revenue profits. They keep the people agenda at the forefront. Such leaders develop a collaborative "can do" mindset in the organization, dispel fear, don't hide themselves, explain what the organization is doing, strengthen the employees' connection, see beyond the immediate, anticipate and prepare to handle that, and keep managing the responses separate from leading the crisis. Normally, what happens is that crises are overly managed and remain under-led in organizations, which develops certain complexities for the future. When you overmanage, the focus is restricted to the present only instead of taking a long view. Success in leading through a crisis depends upon the element of trust and delegation among people in the organization, developed and exercised by leaders.
Apart from the crisis, the pandemic has caused in business in India, one more thing has happened simultaneously.
Labor Law Reforms in India
After the Code on Wages Act in 2019, the Government has completed the major task of the overhaul of labor regulations by clearing the remaining three more codes on social security, industrial relations, and occupational health and safety in September 2020. All four codes have attained the status of Acts as the President of the Country also accorded his assent. The only remaining part is the drafting of rules under each code and then making them enforced, which is also intended to be done by April 2021.
With this big "Reform" in the business labor market, there are different opinions of stakeholders. While the employing community terms these changes in labor laws as an opportunity to help build an environment of ease of doing business and attracting FDI, Unions have expressed their anguish over these "sweeping" changes making the working class more vulnerable and deprived. Their apprehension is that their rights are squeezed and job security will be a matter of the past.
To understand how leaders should lead out of crisis and press the 're-set' button, work on business priorities, and the impact of changed labor regulations, we decided to bring out the joint mega issue by merging the November and December 2020 issues into one.
So, it has two cover stories fully packed with the power of knowledge.
If you like it, let us know. If not, well, let us know that too.
Happy Reading!
From India, Delhi
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181Leading out of a crisis in business is something different. Crisis brings uncertainty, ambiguity, and fear. It can be a matter of magnitude. For business leaders in organizations, every crisis leaves certain learning. It ranges from unique pressures and unusual demands arising out of situations and identifying grey areas to keeping emotional distress under control and diminishing fear by providing tactical guidance.
It would not be correct to assume that crisis leaders possess a different set of skills, competencies, and abilities apart from traditional traits like decisiveness, communication, and motivation. These traditional traits also play a crucial role in a crisis but with certain refurbishing, enhanced, and deep thinking with a mindset of openness to think and welcoming 360-degree views, willingness to take risks, and confidence in overcoming the crisis.
Crisis leaders think beyond cost and revenue profits. They keep the people agenda at the forefront. Such leaders develop a collaborative "can do" mindset in the organization, dispel fear, don't hide themselves, explain what the organization is doing, strengthen the employees' connection, see beyond the immediate, anticipate and prepare to handle that, and keep managing the responses separate from leading the crisis. Normally, what happens is that crises are overly managed and remain under-led in organizations, which develops certain complexities for the future. When you overmanage, the focus is restricted to the present only instead of taking a long view. Success in leading through a crisis depends upon the element of trust and delegation among people in the organization, developed and exercised by leaders.
Apart from the crisis, the pandemic has caused in business in India, one more thing has happened simultaneously.
Labor Law Reforms in India
After the Code on Wages Act in 2019, the Government has completed the major task of the overhaul of labor regulations by clearing the remaining three more codes on social security, industrial relations, and occupational health and safety in September 2020. All four codes have attained the status of Acts as the President of the Country also accorded his assent. The only remaining part is the drafting of rules under each code and then making them enforced, which is also intended to be done by April 2021.
With this big "Reform" in the business labor market, there are different opinions of stakeholders. While the employing community terms these changes in labor laws as an opportunity to help build an environment of ease of doing business and attracting FDI, Unions have expressed their anguish over these "sweeping" changes making the working class more vulnerable and deprived. Their apprehension is that their rights are squeezed and job security will be a matter of the past.
To understand how leaders should lead out of crisis and press the 're-set' button, work on business priorities, and the impact of changed labor regulations, we decided to bring out the joint mega issue by merging the November and December 2020 issues into one.
So, it has two cover stories fully packed with the power of knowledge.
If you like it, let us know. If not, well, let us know that too.
Happy Reading!
From India, Delhi
Acknowledge(0)Amend(0)
As an expert HR professional and business management expert, it is crucial to acknowledge the challenges posed by crises in business and the recent changes in labor regulations in India. To effectively lead out of a crisis, business leaders need to focus on enhancing traditional leadership traits like decisiveness, communication, and motivation while also incorporating new skills such as openness to diverse perspectives, risk-taking, and fostering a collaborative mindset within the organization. It is essential to prioritize people's agenda, maintain transparency, and build trust among employees to navigate through crises successfully.
Regarding the recent labor law reforms in India, it is important for leaders to understand the implications of these changes on their organizations and employees. While some view the reforms as an opportunity to improve the business environment and attract foreign investments, others, particularly unions, express concerns about the potential negative impact on job security and workers' rights. Leaders must carefully assess the implications of the new labor codes on their workforce and adapt their strategies accordingly to ensure compliance and maintain a positive work environment.
In conclusion, effective leadership during crises and amidst regulatory changes requires a combination of traditional leadership qualities and adaptability to evolving circumstances. By prioritizing employee well-being, fostering transparency, and staying informed about labor law reforms, business leaders can navigate through challenges successfully and drive their organizations towards sustainable growth and success.
From India, Gurugram
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Regarding the recent labor law reforms in India, it is important for leaders to understand the implications of these changes on their organizations and employees. While some view the reforms as an opportunity to improve the business environment and attract foreign investments, others, particularly unions, express concerns about the potential negative impact on job security and workers' rights. Leaders must carefully assess the implications of the new labor codes on their workforce and adapt their strategies accordingly to ensure compliance and maintain a positive work environment.
In conclusion, effective leadership during crises and amidst regulatory changes requires a combination of traditional leadership qualities and adaptability to evolving circumstances. By prioritizing employee well-being, fostering transparency, and staying informed about labor law reforms, business leaders can navigate through challenges successfully and drive their organizations towards sustainable growth and success.
From India, Gurugram
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