2023 – The year of change (or Henka)
– and for me personally too!
For businesses, 2022 has been yet another dizzying year. Many of us came into the year still reeling from recent events, and since then, it's been one thing after the other hasn’t it?
From the lingering effects of Covid-19 to Russia's invasion of Ukraine and quiet quitting to the Great Resignation, 2022 has been a bumpy ride for organisations across the globe, not least those of us working in the financial sector.
But we picked ourselves up by our bootstraps as best we could and staggered towards the finish line, and thankfully, we are nearly there.
This year, like no other before it, has demanded organisations to evolve, adapt, and embrace the concept of change. For HR leaders and CEOs alike, this new year means embracing change and creating an environment where their teams can thrive despite the tumultuousness of the world around them. Here are a few ways The Henka Institute has seen change throughout 2022.
The Henka Effect
One of the highlights of The Henka Institutes' year was the launch of The Henka Effect. TheJapanese word Henka (変化) means perpetual change, courage, and transcendence. Leadership coaching has long been a passion of mine and it was such a journey to put it to paper. While talking about the concept of change, leadership coaching is the key to navigating through the enormous shift in leadership that is happening as we speak.
It is about finding the balance between developing people and getting things done properly. I’ve long been an admirer of Asian culture, and so, as my ideas developed, I looked to Asia for inspiration, where I became fascinated with the word Henka, so much so that I wrote a book about it. The Henka concept has been particularly helpful to me this year as I went through my own transformation. We as humans, along with our organisations are not immune to change. It is when we learn to embrace the change with open arms, that we can see amazing things can happen. One change that I have personally had to come to terms with this year was the menopause. While it is somewhat still not spoken about, it is something that should be accepted and embraced, once again with open arms.
Adapting to a New Normal
As an entrepreneur with years of experience in the global financial services sector, I noticed some commonalities between my experiences with change and the challenges facing businesses.
What does the future hold? Well, without a crystal ball, it’s difficult to tell with any certainty. But there is no point sugar-coating it, the current outlook looks very uncertain.
● Inflation and economic downturn.
● Supply chain security.
● Increasing customer expectations.
● Accelerated digital transformation.
● The war for talent will intensify.
● Data and device security.
These are just but a few of the challenges that we are all familiar with, facing organisations as head into 2023.
The global economy is currently facing a recession. As a result, organisations of all sizes are feeling the pressure to become leaner and more efficient to survive. At the same time, businesses need to invest in their leadership and teams to remain competitive. It can seem like an impossible task, but with the right strategies and approaches, organisations can create leaner structures while still investing in their people.
With a change of any kind, there is no one-size-fits-all solution. Every business has different goals and requirements that must be considered when making decisions about how to create more efficient structures. For example, some businesses may need to focus on reducing costs while others may need to invest more heavily in developing their talent pool or improving customer service.
As we head into the New Year, businesses will be planning ways to streamline, synergize, and generally do more with less. The solution lies in investing in your team, in your leaders and in future leaders.
It means instilling compassion and care into our organisation. I certainly know people who are running themselves ragged, working late into the night, and sending out emails - my husband among them.
People are under immense pressure – both in their personal and professional lives and because of this are experiencing burnout, further fuelling problems like the Great Resignation and talent shortages. If we're not looking after our people and building their resilience, they could leave and never return. This poses a particular problem for high-pressure sectors like financial services and healthcare which have taken a battering during the pandemic. We need to create a culture of resilience and compassion, and, as with most things, that starts at the top.
Leadership Coaching for the Future of Business
As more and more companies are transitioning away from hierarchical models to ones focused on collaboration and growth, a new kind of leader is needed. At fts global and The Henka Institute we have over 25 years of experience in the financial services sector, we specialise in transforming leaders into innovators who can lead with both heart and soul.
Our approach is centred on helping leaders tap into their potential. We provide support by engaging in thoughtful conversations that help uncover hidden talents and strengths that may have been overlooked or underutilised in the past. Our comprehensive professional coaching program focuses on unlocking each individual’s unique leadership style so they can maximise their impact on their teams and organisations.
We are committed to helping unlock leadership potential among individuals from all walks of life who strive for excellence in their roles as leaders within their organisations. Our holistic approach combines expert coaching with powerful assessment tools to ensure lasting growth for all those who engage with us on this journey of sustainable leadership.
If you are interested in learning more about the Henka Effect or leadership coaching, visit our website.