What do leaders do when the world is completely unpredictable?

Fortune favours the brave. But be smart about it.

By Sandra Oliver, Impact Founder, and Peter Zukow, Managing Partner, IQ PARTNERS

In a recent article, Peter and I discussed leading through chaos. And since then, the uncertainty in the world has increased, which almost feels surreal. So, we felt it was important to keep the dialogue going.

Everyone is concerned

For many reasons, we lead our own companies and have business partners we’re committed to and care about. Like all leaders, we want our organizations to be successful and continue building things that will benefit clients and staff. But the rules have changed. And keep changing. What’s our advice? What are we hearing?

We’re talking to many leaders right now, and everyone is concerned. Many are energized. Most are worried – and ask us what we’re hearing.

It feels like a good time for leaders to connect and discuss navigating this crazy world. Because – and we feel like a broken record on this – leadership is hard, and leaders have been carrying a ton of weight on all kinds of issues for a long time. The current uncertainty is coming at a time when people were feeling optimistic about lots of things, including the economy. So, doubling down on another unpredictable crisis requires a new level of endurance from leaders. Like running a third marathon on the heels of the last two.

It’s important to remember, however, that while we continue to shoulder that weight, to put on brave faces in times of crisis, to be strong and calm for our employees, suppliers, and clients, we need to take care of ourselves, too. We need to acknowledge that it’s ok to be scared or nervous, and seek the support of peers and coaches. To get the help we need so we can continue to perform at our best for our own wellbeing, and that of our people, and our organizations.

Stay informed and become more informed

What else can we do?

First, we know the playbook. Operational efficiency alone doesn’t work. Unbridled optimism won’t solve the issue. And ignoring what’s going on in the world is perilous.

We’ve found that our interest in news has ramped up dramatically – probably too much. And the leaders we’re speaking to are feeling the same way. They’re all curious about what others are doing and what we’re hearing.

So our advice is to “go wide and go deep”. Read everything. Stay informed and become more informed. Some people pull in under stress and try to go it alone. The best leaders talk to their peers and people in their organizations. Most leaders read a lot – newspapers, business books, everything. The more we know, the better off we are. We need to force ourselves to get out there, ask questions, and request feedback. And look for specific answers – not generalizations.

If we can execute during times of high change, we can see exponential achievement of our vision

Change is always an opportunity. So, if we have a vision and strategy, now’s the time to double down and stay focused. And research bears this up. A Harvard Business Review study of corporate performance through economic and political uncertainty found that while about 80% of businesses survived, 9% not only recovered, but improved performance and outpaced their competition.[1]

This demonstrates that if we can execute during times of high change, we can see exponential achievement of our vision. It’s almost counterintuitive, and it takes a lot of courage.

Waiting means someone else will lap us

An alternative that weaker leaders often choose is to do nothing. We can become paralyzed during uncertainty, arguing that everything should wait. This sounds plausible – and tempting, too. After all, we don’t know what’s going to happen. But waiting means someone else will lap us, and we’ll have missed our window.

And frankly, good leaders know the answers to the big picture. That’s unlikely to change.

The details change (like where to build a new facility or what specific new products to invest in). But overall strategic direction rarely changes. Don’t waste a good crisis, even if it’s a big one.

Thoughtful vision, investment, and business restructuring take skill and work

So what are the things we should be doing?

1. Enhance operational efficiency

• Restructure and optimize operations judiciously, ensuring we can still invest in growth.

2. Invest in the future

• Continue spending on R&D, marketing, and new technology to address changing customer needs.
• Acquire struggling competitors or enter new markets at lower costs.

3. Be adaptable and agile

• Quickly adjust to market shifts, experimenting with new business models or distribution channels to stay ahead.
• Use data-driven decision-making, rather than reacting emotionally.

4. Focus on employees and customers

• Retain key talent, so we have strong workforces when we recover.
• Strengthen relationships with customers by enhancing loyalty programs and value offerings.
• Build resilient corporate cultures that motivate employees to stay engaged.

Key takeaway: A balanced approach wins

The Harvard Business Review study found that companies that thrived during economic and political upheavals didn’t just focus on operational efficiency (like 17% of companies that failed to recover) or spend recklessly (like 11% that expanded too fast). Instead, they took a disciplined, strategic approach – saving costs where necessary and investing in growth at the same time.

During uncertain times, successful companies:

• Focus on innovation and long-term strategy, rather than short-term survival.
• Adapt to market shifts, investing in new trends before competitors do.
• Retain top talent, understanding that skilled employees are critical to recovery.
• Double down on customer experience, ensuring loyalty during tough times.[1]

Unprecedented change is a defining feature of today’s business landscape. Staying on top of it, adapting as shifts happen, and anticipating the transitions to come is part of our role as leaders. Connecting with each other, talking about it, and taking care of ourselves is, as well. Along with having the courage to act when it’s needed. And the wisdom to make the choices that will serve our people and organizations best, now – and for the long term.

[1] Gulati, Ranjay, et al, “Roaring Out of Recession”,  Harvard Business Review, March 2010, https://hbr.org/2010/03/roaring-out-of-recession

IMPACT can help

To explore how your organization can adapt to the talent opportunities that change brings, contact us.

Turning Leadership Potential Into Performance Online Event

Catch Peter, Sandra, Shelley Brown, from AugmentHR, and Bart Egnal, CEO of The Humphrey Group, at a free webinar – “Turning Leadership Potential Into Performance (Through Executive Coaching & Leadership Training)” – on April 1, 2025, 1 to 2pm EST.

Register now for this event to secure your spot and to receive a copy of Impact’s 2024 Annual Report.

As part of our shared vision to support our clients with a truly comprehensive Total Talent Strategy, both Impact Coaches and IQ PARTNERS are now proud partners in The Humanis Group of Companies, which also includes Humanis Talent Advisory (Edmonton, Calgary, and Montreal), The Headhunters, Covalency Coaching, Mullen Leadership Group, and Venor.