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How to Find Career Success in a Tough Economy

Carol Wilding Shares 6 Leadership Attributes That Are Vital During Tough Economic Times

BY CAROL WILDING
President and CEO, Chartered Professional Accountants of Ontario,
past President and CEO, Toronto Board of Trade

Early this year, General Motors named Mary Barra the motor giant’s new CEO. A few weeks later Janet Yellen took hold of the top position at the United States Federal Reserve. Closer to home, Kathleen Wynne became Ontario’s first female Premier. What these prominent women have in common is that they have taken on tough jobs in a tough economy.

As past President of the Toronto Region Board of Trade I had the opportunity to work alongside women at the top of their respective fields. What I heard from these women, and our other members, shouldn’t surprise anyone. Canada’s economy is in a tough spot. Ontario perhaps even more so.

Despite the challenges, women continue to make great strides in the corporate world and excitingly, many women are creating their own opportunities as entrepreneurs. I’ve met many of them in my seven years at the Board.

How do they do it, and how can more women succeed in a tough economy?

No matter whether a good economy or tough economy, attributes of strong leadership are the same. Flexibility, adaptability, focus, reliability, reputation and trustworthiness are evident in good leaders. That said, these attributes are especially important in tough times. It’s important then, to focus on these attributes:

  • Flexibility and Adaptability
    The ability to be flexible and adaptable is incredibly important. So too is a laser-like focus on leading a team toward a goal despite the many issues, some within your control, but many outside of it, that will invariably pop up.
  • Focus and Reliability
    There are of course, some distinguishing factors around women’s leadership style compared to men. Women are seen as more intuitive, more relationship oriented and often more consensus building in their decision making. And your leadership style is a key element in building your reputation.
  • Reputation and Trustworthiness
    Maintaining your reputation is vital, particularly in tough times. A reputation is built on integrity. Your integrity is your biggest asset and you must protect it. You want to create a reputation that you can be counted upon to deliver, that your commitment is solid and that you are reliable. It’s about being authentic and trustworthy. Your word is your guarantee.

At the Board, we were frequently engaged in public debate around topical policy issues. When I spoke publicly I was conscious of the fact that I was representing our members and the organization, but I was also representing myself. Ultimately your personal brand becomes closely entwined with your business, so it’s important to be comfortable with a decision on both fronts.

When we look at successful women, particularly women with a long public track record, we can see how important the integrity piece is to their longevity and success. You’re only as good as your word, and in today’s tough economy, that’s especially true.


Carol Wilding is past President and CEO of the Toronto Region Board of Trade, the chamber of commerce for Canada’s largest urban centre, connecting more than 12,000 members and 200,000 business professionals and influencers throughout the Toronto region.