During recent executive coaching sessions, I have noticed that more and more leaders are feeling hopeful about the future. They sense that we will sooner rather later enter into a productive recovery period where more normal business operations can take place. They are eager to get back to normal and to return to a time period where every day is not a mix of emergencies and adaptation.
As their executive coach, I have to remind them that a recovery period means an actual recovery period. It is not a binary state of feeling like things are crazy one day and then the next day we are fully recovered. Instead, it is a gradual transition from being in a difficult global pandemic into no longer being in a difficult global pandemic. More likely, we will be feeling the impact of COVID-19 for many years even after the majority of the world’s population has been vaccinated.
Therefore, I have advised quite a few leaders to think carefully about the future and to remember that a normal recovery can take between three to five years in length. Thus, while they might like to create a new five year strategic plan in 2021, it probably would be best to create another one year to eighteen month bridge plan because we just don’t know what we don’t know at this time period. We can clarify our strategic intent or direction, but honestly we can not expect everything to be peaches and cream immediately after we hit the point when 75% - 80% of the US population is vaccinated.
Being nimble, flexible and agile during the next two years is a competitive advantage. This means we move forward cautiously. With disciplined vigilance and by staying attuned to threats and changes within our industry, our society and the lives of those who we serve, we can channel our worries and fears into preparing for multiple contingencies and maintain large margins to assure a safe pathway through a possible, prolonged recovery.
As my late father always said, “Be prepared; the future is unpredictable.” And given what we have lived through in the last year, we know this is true. From now and into the spring, be disciplined and be hopeful. Create realistic plans and execute them in a thoughtful manner. We can not predict the future but we can prepare for it nonetheless.
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