15/10/2023
At the Australian Institute of Company Directors Annual update this week, I was struck by a comment referring to how a director can look for evidence of the right investment in people in terms of creating well-being for people within the culture. Look at how much, in percentage terms of revenue, is invested in the development of people and culture.
When things are contracting, it may seem logical to decrease spending on people and culture, and yet that is the time when you most need to develop your ability to respond to those conditions well. It can become the ideal incubator for developing exactly those skills when they are needed most. The art form is to do this in a well-leveraged way.
Recently, I worked with a senior executive who needed to make a tough decision about a valued direct report and a good friend. The challenge was that this had become an 'expired' good fit. The concern was how to speak about it in a respectful and constructive way. How do we get this conversation on the table with respect and positive regard for everyone's greater good? It took some time to line it up internally, so it felt right, and externally, so it was done well. In the end, it was a good outcome for all.
