How great leaders manage expectations during uncertain times
In January 2020 I attended a panel discussion on the economic forecast for the year. The speakers were optimistic, using phrases like “20/20 vision” to describe their predictions, not only for the year but also for the upcoming decade.
Talk about being wrong! In January COVID was barely on anyone’s radar, but by May the city of Chicago and most of the world was on lockdown. The economic, social, and psychological havoc that followed was unprecedented in recent times. Then we had the George Floyd killing and the racial unrest and reckoning that ensued. And now we are navigating the unpredictability of President Trump’s administration. So far the 2020s have severely tested everyone’s ability to navigate uncertainty — and we’re only halfway through.
That’s why I’ve been posting about leading in a time of uncertainty. The first three posts focused on three crucial leadership behaviors: Inform, Connect, and Guide. This fourth post is about Managing Expectations.
Why managing expectations builds trust in uncertain times
People are vulnerable in times of uncertainty. They may put undue faith in everything leaders promise because they are longing for a sense of security and stability. It is crucial for leaders to offer only what they can deliver, so they come across as trustworthy and honest, rather than as big shots who overpromise and underdeliver. Here are some of the key behaviors.
Gather and share the facts. One of the best ways to reduce people’s fear is to honestly tell them what’s going on. Even if the news is bad, it’s better to know. Doctors have learned this. In the old days they used to shield patients from bad medical news because they didn’t want them to give up hope. But the medical profession has learned that telling the truth builds trust and enables patients to make good decisions. Business leaders should do the same.
Be honest about what you know and don’t know. Don’t offer false certainty.
Share good news as well as bad. Sometimes it’s easy to get swamped by all the bad news. Telling stories about what is going well and what looks hopeful gives people the energy to keep going.
Be realistic about the present and the future. In times of uncertainty, you can’t promise when or whether things will get better. You can share your optimism, but be realistic. When I started my newsletter in 2009 — also a time of great uncertainty — I titled it “The Cautious Optimist.” (You can sign up below.)
Set achievable goals so people can succeed. This is not a time for BHAGs — big, hairy, audacious goals. It’s a time for achievable goals that enable people to stay the course and feel a sense of accomplishment.
Leading through a time of uncertainty is not easy or glamorous. It tests the courage of the toughest leaders. But we do have some roadmaps for how to make it through. If you’d like to talk more, contact me.
