Valuable insights from a global management consultant on the evolving role of directors, effective ways to drive business transformation and change.

In a management retreat aka a golf day with local leaders last week with some of the countries telecom regulators revealed some inspiring new developments in this year's mergers and upcoming acquisitions.

Editor:

In a world wearied by the ongoing effects of the Covid-19 pandemic and the persistent challenges of years of lockdowns, where employees turned to their managers for guidance and inspiration, it was refreshing to see the event well-attended, with everyone networking again.

As we step into 2024, the need for new energy, direction, and hope is more critical than ever.

Following our recent Telco Better Managers Briefing Break away after the golf day, we had the privilege of conversing with many industry leaders but, one being a one on one with Derek Friend, a global management consultant and seasoned leader who has achieved success on secondment to international organizations. During our discussion, Derek highlighted the key behaviors he believes will be crucial for managers and leaders in the upcoming year of change: charisma, resilience, empathy, and communication.

Charisma

Charismatic leadership possesses the power to inspire individuals, making them feel good about themselves and their potential for greatness. Managers who exhibit charisma can achieve much more, yet many erroneously believe that charisma is a quality exclusive to a select few. Derek Friend emphasizes that sincerity is a vital skill needed, along with a genuine interest in people's development. Charisma is a learnable skill that anyone can develop. Fortunately, this aligns with his friendly disposition. (No pun intended.)

"Charisma is a real, tangible, measurable thing," Derek explains. "To get the best out of others, we must consistently display its traits. However, it takes effort to attain this."

So, how can one become more charismatic? Authenticity and impactful self-presentation are key. Having a compelling purpose that resonates with your team and communicating it with genuine warmth and care are vital steps. Derek underlines the importance of consistently exhibiting these traits, as it goes beyond merely making people feel better. People who feel better tend to perform better and deliver concrete, positive, and profitable results.

Resilience

This year has demanded resilience from everyone, particularly those in management. As Derek points out, managers often bear the brunt of challenges without receiving due recognition. Building resilience in their teams is essential. Managers should maintain a positive attitude, exude positive energy, and demonstrate genuine care for their team members. Going the extra mile to support their team in current circumstances, and showing consideration are all ways to foster resilience.

But, Derek emphasizes, to instill strength and resilience in others, you must first care for yourself. Being able to encourage perseverance and optimism in others requires personal well-being. Derek warns that if you feel doubtful or hopeless, you'll find it exceedingly difficult to embody resilience. Self-care is the foundation for caring for others.

Empathy

Trust is currently in short supply, and managers must work diligently to build and maintain trust among both staff and customers. Derek emphasizes the role of empathy in this process.

Research from psychiatrists and neuroscientists underscores the importance of feeling valued and part of a team. Managers must enhance their ability to make their teams feel cared for, as it serves as a potent stimulus for high performance. Demonstrating empathy and care isn't just a matter of sentiment; it's a strategic business move. The more valued and cared for employees feel, the higher they tend to perform.

With remote work, showing empathy becomes more challenging. Non-verbal cues on Zoom calls are limited, making it essential for managers to verbally inquire about their team members' well-being and challenges. Communication becomes even more vital to understand what employees need and enable them to perform at their best.

Communication

In a world where remote work has become the norm, communication skills have taken centre stage in keeping employees engaged. This is particularly relevant for furloughed workers, as Derek points out. He advises maintaining communication with furloughed staff – keeping everyone in the loop is essential, keeping them informed about developments during their absence and what to expect upon their return. Ensuring they understand their continued importance, even if they can't currently contribute directly, is crucial.

Lack of engagement among staff can have detrimental effects on a business. To combat this, managers should work diligently to maintain a sense of team, community, and belonging, even in remote or furloughed working conditions. Although it may require effort, staying in touch and discussing issues as a team or one-on-one is essential. However, the tone should be one of hope and positivity, with a focus on what can still be achieved. This is what employees need to hear from their managers, especially in these uncertain times. Some employees just don’t know what they don’t know and cant be expected to ask – clear communications should be maintained.

Editor: Welcome, Derek Friend, and thank you for taking the time to share your insights with us. As a director with an impressive background in the telecommunications industry and corporate strategy, how would you describe the changing role of a director in today's business landscape, especially considering your positions on the boards of various global portfolios and your extensive experience in driving innovation and business growth?

Derek Friend: The role of directors has evolved significantly, particularly in the context of my background with global portfolios. The focus on the fundamental duties of directors, including governance, strategic planning, and stakeholder engagement, has become more exacting. Many companies I've worked with, across various sectors, are navigating a rapidly changing business landscape. This transformation has elevated the expectations and responsibilities of directors.

Editor: What have you observed in terms of the right and wrong ways to drive transformation within companies, given your extensive experience in driving innovation and business growth?

Derek Friend: My approach as a CEO in multiple companies has informed my work as a director. First, it's crucial to ensure that the company can deliver on its strategic plans. Directors must support management in achieving the plan by identifying critical priorities and ensuring they align with the company's long-term vision. And always through proper communication.

Second, boards are increasingly engaged in shaping the future of their companies. Defining the company's vision, strategy, and its "economic true north" is a primary responsibility of the board, along with selecting the right leadership. This task is becoming more challenging due to the dynamic nature of the business landscape. And constant clear and concise communication is vital at all levels, so that everyone knows the direction in which they need to align in.

Editor: When it comes to assessing whether a transformation plan is too aggressive or too timid, what are your criteria, given your experience in managing multi-million-dollar budgets and spearheading data-driven carrier projects?

Derek Friend: When evaluating a company's plans for market success, it comes down to assessing its "right to win" in its industry, short term and beyond. A company must have a relevant and competitive advantage, whether in its cost structure or resource capabilities, to secure a place in the market. If this fundamental advantage is absent, it's evident whether the plan is based on substance or wishful thinking.

Editor: How do you gain insight into a company's culture as a director, especially given your experience in working across various regions and time zones, including Europe, the UK, the Middle East, Australia, and Africa?

Derek Friend: I make a concerted effort to connect with people at different levels and immerse myself in the company's operations, drawing from my background and global experience. Rather than relying solely on the official narrative, I engage with employees at various levels, visit company locations where I can, and engage in open candid dialogue. I keep the communication line open at all times, As a director, it's crucial to avoid the isolation that can come with boardroom roles and gain a comprehensive understanding of the company's culture, ensuring that values are lived and not just words on paper.