The essence of risk management lies in maximizing the areas where we have some control over the outcome while minimizing the areas where we have absolutely no control over the outcome.
Peter L. Bernstein – Risk Author
During COVID, we’re all VUCANs. This implies that each of us is inherently a risk manager. Why? Maybe, it’s hard wired into our DNA. Look at the ‘fight or flight’ syndrome our ancestors had to live and decide by. The very survivability of our species was defined by this simple risk based conundrum. Recently, Travis Bradberry in Forbes said: “The real obstacle to positivity is that our brains are wired to look for and focus on threats.”[i] Let’s look at a few COVID threats and risks:
If you pick up any paper or listen to any TV show, about three quarters of the programs deal with COVID risk. Risk is the lens for most of our work. The good thing is that a risk lens can be developed and adaptability can be learned.
Risks can result from pandemics, cyber-attacks, food recalls, theft, violence, crossing the street, and then the mother of all risks the possible extinction of humans from climate change. Extinction may come from multiple sources. Killer virus. Meteor strike. Super volcano eruption. Global warming. Nuclear war. Robogeddon. In other words, there’re too many risks to count.
VUCA messaging and fears in our heads is also causing real tension. Most of us want certainty and control in our lives – control of VUCA. However, we destroy ourselves worrying about everything. FOMO. Every decision is fraught with risk. Everything is a problem that can’t be solved. So, there are lots of advice givers. Executives have personal coaches. VUCANs talk about day-to-day challenges. Bosses give millennials daily or weekly feedback and suggestions and how to improve.
Work Lesson Earned: VUCANs in COVID time want stability not volatility, certainty not uncertainty, simplicity not complexity, and clarity not ambiguity. In other words, VUCANs want the opposite of VUCA. VUCANs want predictability, consistency, and safety. VUCANs will have to develop new habits and learn how to deal with COVID work disruption and risk.
[i] ‘How and Why To Stay Positive’, Forbes, August 8, 2013.