Discuss steps that are recommended for leadership handling of a crisis situation? Also, what are some published ways to retain staff members? Please site reference.
The first point to keep in mind when handling a crisis as a leader is to recognize that, out of chaos, the opportunity lies therein. Here are a few steps to handling a leadership crisis, according to the Wall Street Journal:
1. You must face the cold, hard reality.
2. No matter how bad things seem to be currently, be prepared for them to get worse.
3. Build a mountain of cash- do not just rely on revenues.
4. Don't isolate yourself.
5. Don't ask others to make sacrifices for your benefit.
6. In crisis, remember you can use it as an opportunity.
7. Do not sit and wait it out.
Basically, to summarize all these steps, it is through crisis that a manager and leader obtains the chance to rise above what most other companies would do. Instead of being complacent, isolating oneself from the problem, or depending on just others, teamwork can be strengthened, under good leadership, to combat the crisis, and use it as an opportunity. It is important, as a manager and leader, to expect the unexpected and prepare for all scenarios. Always have a backup plan ...
The solution discusses the steps for a leader handling a crisis.