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Leaders in the crisis

August 20, 2009

According to McKinsey(McKinsey August 2009), Many executives have found it difficult to look beyond addressing the short-term effects of the crisis. More notably, satisfaction levels are markedly lower when executives rate their overall performance. Relatively few executives are pleased with their performance when it comes to positioning their businesses for growth, retaining and attracting talent, and developing leaders—areas that are important for their companies’ chances to thrive after the crisis. Carving time out of operating routines to address these issues will be a key to recovery. Further, satisfaction levels drop even more dramatically when respondents rate the performance of their bosses. Twenty percent of C-level and senior executives and 30 percent of middle managers aren’t at all satisfied with their superiors’ performance—another indication of middle managers’ overall lack of connection to their current companies.
Areas of concern to executives include:

  • Maintaining good relationships with external stakeholders, shareholders
  • Controlling financial and operational risk
  • providing inspirational leadership
  • Retaining, attracting talented people
  • Positioning company for growth
  • Developing people’s leadership capabilities so they can manage crisis
  • Downsizing to cut costs
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