4 Simple Leadership Strategies to Build on During Economic Recovery

Economic recovery is something we will all have to take an active role in as our focus turns from responding to the economic and sociological effects of COVID-19 to developing and discovering ways to recover from it. Now, while we are by no means totally out of the woods, our economy has already shown incredible resilience and adaptability in the face of odds many saw as insurmountable. We took the steps to change our strategies, business models and personal practices to safeguard against some big unknowns.

We have to harness that same resourcefulness and conviction and develop plans to outgrow the blows we’ve taken. We could never have predicted what happened but we now have the opportunity, during this economic recovery, to make the most out of what comes next.

Make Adjustments Based on Results

What was once seen as conventional might not function under current circumstances. Old stand-bys might no longer be relevant or effective. The insurance industry—any industry for that matter—must make decisions based on results, make decisions that help every company or organization get the most out of limited resources. Paying close attention to quantifiable and consistent results will allow us all to integrate new tools into our skillset and guide us towards taking the right opportunities to adapt and grow.  

Know Where You’re Going

A good leader has a plan and, most importantly, a destination in mind. Knowing where you’re going is not only essential in developing methods along a specific path, it helps build the morale of those working around you, those with whom you will be on this journey. Really consider the recovery you’re trying to manifest. A defined tomorrow becomes an emotional rally point you can gather around and work towards. A goal gives every member of your team a part of that purpose. 

Trust as Currency

Just as trust can be earned, we all know it can be spent and at times exhausted. Many firms and companies in the insurance industry have done everything they could to not only earn the confidence of their clients and customers, but also took the proper steps to safeguard their contributors and employees when the unknowns were numerous. During periods of adversity, an individual is more aware and more sensitive to those factors that might affect their physical, emotional and financial well-being, and so is more aware of actions taken to preserve them. This time of economic recovery is a prime opportunity to visibly show your company or firm’s commitment to your clients and your teams. 

Be More

Things change. Sometimes it’s great and then other times we have a pandemic. Ignoring change is a failure to learn from our past and a lost chance to incorporate what we’ve learned to put towards future success. Our world, our economy and the insurance space will continue to recover and will continue to grow. We must all grow and adapt with it. Aiming higher than what we had before but building upon it as a foundation will be essential in fostering a more resilient future.

The James Allen Companies will do its part to find and place leaders who can take every opportunity and harness every resource, resulting in a period of recovery that is truly transformative. Contact us today to get started.