Embrace uncertainty for long term success

In the UK, we have recently voted in a new government and face ongoing challenges including geopolitical conflicts such as the war in Ukraine and the Middle East, inflation and fluctuating interest rates.

As business leaders we need to navigate our organisations through social, economic and political lenses. So how do we lead effectively when uncertainty is our only constant? In order to answer this, I have adopted the following strategies at Rider Levett Bucknall to ensure our business continues to thrive through uncertainty:

Become comfortable with uncertainty

A great piece of advice I was given in my early career was that change will always happen in your working life. Our brains are conditioned to look for risk or threat and to manage this to ensure safety.

By seeing uncertainty as part of the learning process, we begin to remove the need to have all the answers and can develop quicker responses to challenges as being prepared for change, we remove some of the anxiety shock when uncertainty arises.

Lead with authenticity, transparency and trust

It is imperative to take those working with you on the journey. Where the natural human response is to defend against the risk and threat of uncertainty, it is necessary to lead in a manner that bridges the gap of unknowing. For me, this has meant leading in a very open and transparent way, creating psychological safety for those in the business to express and contribute to any issues faced.  Building trust alongside this gives the opportunity to navigate the best way through uncertainty.

In addition to this, embracing imperfection is key. In unique circumstances, perfection can be biggest barrier to progress, and allowing imperfection in solutions can create a flexibility to achieve the outcomes needed and build a human-led positive culture to navigate uncertainty. None of us are perfect.

Be clear on your end goal – plan for the long term

Economically, construction sits at the start of the economy cycle, creating jobs and sustaining livelihoods through the life cycle of a building. Politically we can support agendas such as levelling up and net carbon targets by ensuring our buildings are sustainable.

In the context of uncertainty, having a clear plan for the long term has kept us true to our end goal of ‘Creating a Better Tomorrow’. This acts as a consistent waypoint for what the business needs to continue to deliver through uncertainty and the strategies we adopt adapt and advance as we move through time.

Listen to the voices of information around you

John F Kennedy once said: “Leadership and learning are indispensable to each other”. Leading an organisation requires constant listening and learning. Listen to those within your organisation, to clients, to the supply chain, to those working in R&D and all those working in your sector’s ecosystem. In addition to this there is significant external context that we must continue to consider, assessing the wider impact of stakeholders and influences on our industry and business.

We need to have these voices of information and hear all perspectives before we enter solution mode. This information gathering is not linear, it needs to happen all the way through change – so that we can adapt and align our strategies with the evolving landscape.

Balance short term strategies with long term goals

To ensure sustainable growth, short term strategies must align with long term objectives. For example, if we focus solely on cost in the short term, we might hinder our progress towards net zero targets. Before we move to solutions, we need to balance short term factors with these long-term considerations – this is what we call optioneering. Working with clients to offer a multi faced advisory consultancy – from cradle to grave but with the ability to make small changes along the way- enables them to adapt to the changes. Being open to different solutions and new ways of working to help us meet these requirements is key during these uncertain times.

Embrace Innovation

The pandemic taught us all the importance of innovation, such as rapidly upskilling teams for remote work. In the built environment, innovation might involve adopting DFMA (Design for Manufacture and Assembly) and MMC (Modern Methods of Construction) to overcome material and labour availability challenges. Or at construction stage, we might need to look at project bank accounts for increased insolvency risk and claims avoidance strategies to mitigate increased contractor claims due to project duress on input costs.

In times of uncertainty, having real-time data, the ability to pivot while staying true to long-term strategies and a clear decision-making process are all essential. These elements help navigate the unpredictable terrain and steer organisations towards success.

In summary, navigating uncertainty is an ongoing challenge. However, embraced with the right leadership mindset it is an opportunity to unearth and evolve new opportunities while remaining true to your business goals and creating a deeper culture for success within an organisation. Uncertainty is here to stay. Let’s embrace it and turn it into a force for good.