This shift in market dynamics is also attributed to increased online spending and new buying habits formed during COVID-19, as well as stimulated revenge spending following COVID that led to an increase in tax revenues.
According to KPMG’s December 2023 press release: High tax take is the payback for COVID spending - KPMG Australia, Australia’s national accounts showed that nominal income tax paid per capita had increased by nearly 7% during the September quarter and was 20.5% higher than the same quarter in 2022.
But all these forces did not just alter the idea of taxation, policies, or operating environments – in fact, what’s evident is the accelerated and significant adoption of technology with Artificial Intelligence (AI) coming to the fore.
While these short-term pains have put to test the resilience of people, organizations and the economy, they have proven far more acceptable than three years ago when disruptions started emerging. Therefore, even as external geopolitical circumstances and digital disruptions may present their own challenges, here’s how we can embrace and own these disruptions head-on.
Steering the ship against the tide
In times of uncertainty and radical changes, the call to action is clear for the leadership team in any organization: a clear direction and far-sighted vision to navigate unchartered territories and waters, as well as the courage to make the needed investments, whether in talent or resources, while right-sizing the business when opportunity strikes.
An effective and visionary leader will not only help to increase employees’ trust and resilience but will also help to ensure aligned and transparent goals. In turn, the employees have the grasp and understanding in communicating that vision and outcome to customers to create a sustainable business and success story.
Setting expectations early and with clarity will dispel/quell any disproportionate emotions running through your teams’ minds when they are feeling confused and anxious, which could quickly swell to stress, anger and disappointment.
It is, therefore, important to have quality leaders to lead an organization or a functional change. Quality leaders are coachable, whether internal-facing or external-fronting, and building the talent pipeline of these leaders will help to strengthen the organization’s positioning within the market.
To do this, leaders will need to adapt to evolving dynamics, listen to their peers, obtain feedback from the market and learn from mistakes. There is also a certain agility required in bringing customers’ visions to life – a versatile quality that leaders should possess in attracting more customers to what your organization has to offer.
Building your resilient and trustworthy dream team
My personal conviction is that a leader is only as good as his or her weakest link. This means that all members in the team have their roles to play and to contribute to a common goal and success. Having the right team that embodies loyalty, who would go above and beyond to help the team win, and who carry with them a real sense of purpose and value, are the true pillars of an organization’s strong foundation. In times when the organization is wrestling against a strong pool of competitors, or is faced with significant geopolitical or economic challenges, or is dealing with considerable shifts in market dynamics domestically, having a resilient and trustworthy team will go a long way to helping the organization weather the storm and driving it forward as a united front.
And I think it all starts with the interview process. When seeking a leader in business, it is not about trying to convince a person to join the team. The person needs to connect with the company’s values, identify with the brand and ensure that they can work with the team they meet throughout the interview process.
When I am recruiting for a leader who works directly for me, I have started to apply a new approach. I ask the candidate to write two emails after the interview to myself, preferably at night before they go to sleep. The first email indicates that they wish to move forward with the interview process and lists the reasons why. The second email indicates that they do not wish to move forward and the reasons why. I ask the candidate to save these in drafts and to get on with their evening, sleep on it and then reread the emails when they wake up.
It is at this moment when clarity of the opportunity comes to light. By doing this, it gives the candidate the opportunity to evaluate clearly the pros and cons of joining the company and allows the rational thought process to emerge rather than emotive thoughts that can often misrepresent the understandings of the role or the intentions of the candidate. It prioritizes rational thought over emotive thoughts.
My takeaway, from years of leading teams and coaching employees, is that it is much easier to achieve business outcomes and make these goals a mutual conviction with your team once you establish the connection, clarity and compass to wade through highs and lows, whether professionally or personally, and how to look for gains from recent short-term pains. By regularly communicating a consistent direction and vision, offering continuous reassurance, and defining a clear line of sight from the start, I truly believe that we can build a dream team that possesses the right mindset, armed with rational and collective thinking qualities to resolve any crisis or situation when caught in the eye of the storm.
On this front, I’m very grateful for the excellent team of employees that we have at Orange Business Australia and New Zealand and their perfect embodiment of committing 110% to their work, prioritizing teamwork and collaboration, and putting the business needs above anything else.
Andrew has more than 20 years of experience working in the IT and Telecommunications sector. He has a strong background in sales, leadership, management, and team building, underpinned by a customer-focused mindset. As the Managing Director for Orange Business Australia and New Zealand since 2021, he has seen through transformation of Orange Business both globally and locally, growing the business and driving market awareness, while restructuring the team to create the most optimal outcomes for the business. Andrew is people-oriented and results-focused with a strong history of creating environments to build high-performing teams, while known for his open and engaging interpersonal manner.