The start of a new year and new decade is an exciting time. For leaders, it’s a chance to look ahead and consider about what’s possible. It also a challenging time.
For starters, technology is replacing jobs due to the growth of artificial intelligence, robotic process automation and machine learning. Companies are becoming more efficient, which means some of your people are losing their jobs, or parts of them. At the same time, companies are making major investments in infrastructure, technology and their people – to remain competitive in a tight job market.
Leaders can expect employees to ask, ‘Why do we have to cut any jobs?’ Others will ask, ‘Why aren’t we doing more to reduce expenses?’
Do you see some leadership challenges here?
We’re in a moment – as leaders – where we must do things simultaneously that would appear – on the surface – as going against each other. This process may confuse and anger your people. It could generate unfavorable news coverage.
These are what I consider times of contradictions and paradoxes, and they require strong leadership.
Leaders at my company are embracing this challenge. We’re seeking expense reductions to improve our cost competitiveness, but we’re also aggressively … investing.
We’re gaining efficiencies that have and will affect staffing, yet we’re doubling-down on initiatives we believe will help us grow and innovate. We’re investing in pay improvements and employee development, while simultaneously eliminating or changing work and roles, based on what’s important to customers.
These may seem at odds with each other. I would argue this is the reality of business today. As leaders, embracing paradoxes and contradictions is vital for how you remain relevant in your industry, and with your customers.
Paradoxes and contradictions are part of an ongoing transformation of my organization. We’re meeting customers where they need us, while improving the overall value of our work. We’re attracting and retaining world-class talent for transformative work, too. So that means we’re deliberately investing in them.
As leaders, understand that you can’t necessarily control or even minimize these opposing forces in your organization. Embrace them. This is where humility and vulnerability are crucial assets. It’s OK to welcome the unknown with open arms. There’s value in experimentation – and failure. This is also a time to over-communicate your vision and get buy-in for your culture.
Embracing paradoxes and contradictions can help you take on a rapidly changing and complex business world. And it’s a vital skill for any leader today.
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