Transcript
A (0:08)
Welcome to the Leadership Lounge, a place to kick back and listen as our experts dissect some of the biggest questions leaders face today. I'm Emma Coombe, leadership advisor in our London office. In today's episode, we're discussing resilience, the crucial ability to bounce back from setbacks and thrive under pressure. So what separates the leaders who weather the storm from those who get swept away? Today, we're exploring what genuine resilience looks like in practice, whether it can be developed, and how leaders can build resilient cultures across their entire organization. But before we dive in, remember to share any burning questions you want our experts to answer by emailing redefinersussellreynolds.com and if you enjoy listening to our episodes, leave us a review on Apple or Spotify. So let's dive in. First up, we'd like to welcome Joey Burke, Leadership advisor at Russell Reynolds, Associate Chicago office. Joey, welcome to the Lounge.
B (1:07)
Thank you for having me. It's a pleasure to be here, Joey.
A (1:10)
Let's start with the fundamentals. Why is resilience such an important trait for leaders today? And how has this evolved over time?
B (1:18)
Resilience is an age old concept. What has changed over time is organizational dynamics and therefore the qualities of resilience that are needed. For example, organizations in the past were differentiated based on consistency. An organization's ability to show up the same way every single day, year in and year out, is what allowed them to differentiate themselves in the market. Resilience, therefore looked like discipline and looked like showing up with that consistency to enable the organization to perform. Today's environment is completely different. The external environment is moving so quickly. The external pressures are impacting organizations so rapidly that consistency doesn't work anymore. Adaptability, change, speed, these are the things that differentiate the organizations of the present. These are the qualities that are needed in today's leadership that move us forward.
A (2:17)
That shift from consistency to adaptability in response to the speed of change is really interesting and arguably, I think, much harder. Nowadays, knowing what every day might require of you in a really consistent way, in many ways is easier to prepare for and to build resilience around. If each day can be different, it kind of demands even more of oneself. So I think it's super interesting. And actually what we're seeing in our Global Leadership Monitor research is that leaders aren't effectively adapting to today's threats. Leaders preparedness to face uncertain economic growth and geopolitical uncertainty is the lowest it's been since we began tracking this data in 2021. And a recent McKinsey research report also found that 60% of board members believe their company isn't ready for the next big major event. We'd now like to welcome Maja Hadji Amerovic, leadership advisor in Russell Reynolds Associates, London office, to the lounge. Maja, welcome to the leadership lounge.
