Research has shown that challenges are opportunities for growth and learning, not only for children but also for adults in the workplace. Particular virtues enhance the capabilities of businesses and employees to deal with challenges and adverse situations. Resilience is one such virtue and skill.
In today’s rapidly evolving workplace, resilience is a crucial skill that empowers individuals to navigate challenges, bounce back from setbacks, and maintain high performance. Building resilience in the workplace not only enhances the ability to adapt to change but also promotes well-being and encourages a positive work environment.
Resilience has become a key indicator of a company’s overall health. The more resilient a workplace is, the better equipped it is to adapt to changes and advance towards success.
What do we mean by resilience in the workplace?
In a study conducted by the IBM Institute for Business Value in late 2015, a survey of 5,247 business executives from 21 industries in over 70 countries. It reported that the “scope, scale, and speed” of their businesses were increasing at an accelerated rate, significantly as the competitive landscape becomes increasingly disrupted by technology and different business models.
Building resilience as a skill is what helps companies manoeuvre through these changes, both positive and negative, and tap into good opportunities.
At its core, resilience is a company’s capacity to absorb stress, recover critical functionality, and thrive in altered circumstances. Resilience contributes to a company’s success by encouraging its employees to face challenges confidently and learn from their mistakes. Resilient teams can not only work through challenging times effectively but also act quickly on new opportunities to grow.
When it comes to becoming resilient employees, it is all about navigating through times of increasing complexity and demands. More than five decades of research point to the fact that resilience is built by attitudes, behaviours, and social support that can be adopted and cultivated by anyone. In this blog, we’ll also talk about these attributes.
Why is it important to build resilience within teams?
Resilience is especially important today because the business environment is becoming more dynamic and demanding. This is a result of several enduring forces stressing and stretching business systems, from accelerated technological evolution to greater interconnectedness of the global economy.
In the trajectory to recover from shocks and challenges, resilient companies enjoy better outcomes than their peers on one or more of three dimensions:
Firstly, the immediate impact of an external shock on their performance can be lower than that of their peers.
Secondly, the recovery speed of their performance can be higher than that of their peers.
Finally, the extent of recovery can be higher than that of peers.
Additionally, in a study published by PwC in 2014, initiatives and programs that fostered a resilient and mentally healthy workplace returned $2.30 for every dollar spent—with the return coming in the form of lower healthcare costs, higher productivity, lower absenteeism, and decreased turnover.
Characteristics of resilient teams Having worked as the Director of Learning and Organization Development at Google, eBay, and J.P. Morgan Chase, Rich Fernandez observes that “Most resilient individuals and teams aren’t the ones that don’t fail, but rather the ones that fail, learn, and thrive because of it. Being challenged is part of what activates resilience as a skill set.”
Workplaces and teams that are resilient have the following characteristics in common
Compassion – Resilient teams build a culture of compassion and empathy while communicating and working. Resilience is often expressed in a deep commitment to “co-elevating” the team rather than seeking individual recognition or success.
Empathetic Leadership – Leadership is a crucial priority skill when it comes to resilient teams, especially in the current context of change and disruption. According to LinkedIn’s 2022 Workplace Learning Report, 49% of organizations found leadership and management training to be a core focus area.
Resourcefulness – Resilient teams rebound from setbacks and welcome new challenges. They devote their energy to innovative solutions and remain focused on outcomes regardless of external conditions.
Clear Communication – Research shows that teams made up of individuals with highly-developed communication skills are better equipped to work through unanticipated situations, and it is a crucial skill resilient teams rely on.
Humility – Resilient teams are willing to admit when a problem has become intractable and ask for help, either from someone else on the team or from someone else in the organization. They do not hide their struggles but lean into the group’s responsibility for facing challenges and finding solutions.
Growth Mindset – A growth mindset is the belief that you can develop your abilities through effort, feedback, and learning. It is a key factor for resiliency, as it helps you overcome challenges, embrace opportunities, and adapt to change.
Breaks – Resilience not only focuses on building efficient skills and abilities but also on nurturing the right habits for better work output and culture. Taking breaks at the right time is a skill that prevents burnout, keeps you moving, and improves overall well-being.
Resilience comes from multiple factors, strong work culture and investment in growth and development. At Zenfide, we provide the right skills and learning opportunities for teams, leaders and organisations which are personalised to challenges and requirements.
