As we head into the last month of Q3, many economists and business forecasters remain optimistic about the recovery post COVID-19. Most expect a slow uptick in Q3 and Q4 with a more visible rebound in 2021.

Yet every note of optimism comes with a flashing red-light disclaimer: No one really knows how long the world will be wrestling with the challenges brought on by the COVID-19 pandemic. For business leaders, this uncertainty creates a conundrum: How do we strike the right balance between optimism and reality? How do we avoid over- or under-reacting?

There’s no doubt: These past four months have taken a toll on us all. This has been especially true for CEOs who have been putting on brave faces for their teams in the wake of unprecedented economic turmoil and ongoing uncertainty. As Greg Brenneman said, “the job of leaders is to absorb fear and exude hope.” But this is exhausting.

You’ve been carrying the weight of your company around, fighting for short-term survival and looking for long-term opportunities to secure the future of the company. It has required a brand-new executive tool kit — more effective communications with your team and customers, a new level of empathy, rethinking the customer experience and so much more. You may be feeling anxious, depressed, frustrated or just simply worn out. Someone recently compared it to PTSD.

As I’ve often shared, every organization’s growth plan starts with your leadership team. You need a strong, aligned, high-performing team in place to execute on your strategy. 

Once you have the right people in place, are you giving them the freedom they need to thrive as leaders? Are you pushing them to think — and act — like CEOs?

As business leaders, we understand the importance of setting and tracking goals for individuals, teams and our organization as a whole — a concept that dates back to the 1950s and Peter Drucker’s watershed work on “management by objectives.” And, since the 1980s, most top-performing companies have relied on SMART goals that are specific, measurable, achievable, realistic and time-bound.

Recently, MIT Sloan Management Review asked the question: “Are SMART goals really working?” and offered up a fascinating alternative. According to Donald and Charles Sull, goals should be FAST — embedded in frequent discussions; ambitious in scope; measured by specific metrics and milestones; and transparent for everyone in the organization to see.

As a CEO, you have ultimate accountability for your company’s performance. Your decisions not only impact profits, but also the culture of the company and the lives of your employees and stakeholders. No one is held to higher scrutiny. 

As we head towards 2020, it’s the right time to reexamine the common characteristics of the most successful CEOs and make these a priority for the coming year. 

As we head towards the fourth quarter of 2019 and into 2020, it’s critical that your entire team understands and fully buys into your organizational purpose, values, goals and the shared roadmap for success. A Company Playbook can help ensure company-wide clarity and alignment and will pave the way for scalable growth. 

We’re currently in one of the most competitive job markets in the history of business. Top talent has become a precious commodity, and the ability to recruit and retain A-players can be a differentiator between a stagnant or declining company and one that is vibrant and poised for growth. 

According to a recent study by IBM’s Smarter Workforce, 1 in 6 employees are actively looking for a new job and 46% of employees would consider a better job opportunity even if they weren’t actively looking.