LEADING THROUGH ECONOMIC UNCERTAINTY

Strengthening Our Canadian Leadership Mindset

LESLIE ROHONCZY, IMC™, PCC, Executive Leadership Coach | FEBRUARY 2025

I’ve noticed a shift in the focus of many of my executive coaching clients in the past several weeks. Because the global business and political landscape is evolving so rapidly, and even erratically at times, Canadian executives and senior leaders are wrestling with next-level economic uncertainty.

While this current crisis may feel familiar in some ways to the economic challenges that we experienced during the COVID-19 global health crisis a few years back, this is significantly different. During Covid, we faced a common threat that united industries and nations. Specifically, Canada and our U.S. counterparts were in the Covid battle together; brothers and sisters, fighting side by side as members of the same family; looking out for one another. Doesn’t it feel like that was light-years ago?

Our current economic pressures, shifting trade policies, political changes, and global instability demand a mindset shift so significant that it will define not just the future of our businesses, but the resilience of Canada’s economy itself. And while these changes bring risks, they also present tremendous opportunities: greater clarity, adaptability, and strength – as individual leaders, as Canadian organizations, and as a nation.

Using Ken Wilber’s Integral Theory as a framework, let’s look at leadership mindset across four critical perspectives of the Integral Quadrants model: Action, Systems, Relationships, and Values.

1. ACTION: Embracing Agility, Accountability, and Ownership

Uncertainty can be paralyzing, but it’s time for leaders to lean into action. The question isn’t if the landscape will change – it’s how fast and how well we adapt. We don’t have the luxury of waiting for complete clarity before we act.

Key Mindset Shifts:

• Control the Controllable: Instead of fixating on external forces like tariffs or supply chain disruptions, focus on what you can control – efficiency, innovation, and strategic positioning.

• Act Before You’re Ready: Take calculated risks and iterate quickly rather than waiting for perfect conditions.

• Adopt a Learning Mentality: Every challenge presents an opportunity for reinvention. Embrace experimentation and learning to drive transformation. Try experimenting with reframing the challenge as a chance to develop local manufacturing partnerships, lobby for inter-provincial trade reforms, reduce reliance on foreign supply chains, and strengthen your industry.

Executive Coaching Reflection Questions:

1. What assumptions about the future might be limiting my options, and how can I reframe them to uncover new opportunities?

2. How will we challenge those assumptions to uncover new opportunities?

2. SYSTEMS: Thinking in Complexity, Acting with Precision

Uncertainty requires leaders to step back and see the broader system at play – political forces, economic trends, industry shifts – and make data-informed but decisive moves.

Key Mental Models:

• Zoom Out, Then Zoom In: Toggle between macro and micro views. Analyze global trends but translate insights into specific, actionable decisions.

• Decisiveness Over Perfection: Waiting for perfect data leads to stagnation. Instead, make high-probability bets based on emerging patterns.

• Scenario Thinking as a Superpower: Plan for multiple outcomes to give you an edge when volatility strikes. For example, when you recognize that your traditional supply chains are fragile, experiment with AI-driven forecasting and diversifying supplier regions, to help you transform uncertainty into a competitive edge.

Executive Coaching Reflection Questions:

1. How am I balancing immediate pressures with long-term strategic vision, when making decisions?

2. What evidence, criteria, or data points do I typically rely on?

3. What other information might I explore to gain a fuller perspective?

3. RELATIONSHIPS: Leading with Emotional Intelligence and Stability

Markets fluctuate, but people are the heart of your business. Whether it’s your employees, your customers, or your stakeholders, they are all navigating this uncertainty along with you, and this is your opportunity to provide calm, transparent, and values-driven guidance.

Key Leadership Attitudes:

• Transparency Builds Trust: Uncertainty is unsettling, but withholding information is worse. Leaders who share challenges openly build credibility and loyalty. Be as transparent as you are able, without putting your team or company at risk.

• Empathy Over Authority: Instead of just driving performance, seek to identify and understand the emotional toll of this uncertainty. From that vantage point, lead with humanity. Employees and customers are loyal to leaders and companies who care about their well-being.

• Confidence Without False Promises: As employees and investors look to you for assurance, demonstrate your confidence while staying honest about challenges. If you’re facing supply shortages, lead with radical transparency – openly communicate challenges while directing the pivot to Canadian suppliers. This is likely to increase customer trust, build stronger employee engagement, and strengthen your reputation for integrity.

Executive Coaching Reflection Questions:

1. How am I fostering trust and psychological safety within my leadership team and through my organization?

2. Am I sharing with enough transparency, and how do I know what’s ‘enough’?

4. VALUES: Leading with Purpose and Resilience During Uncertainty

At its core, leadership is about more than just profitability – it’s about principles. In times of upheaval, strong leaders ground themselves in what truly matters.

Key Leadership Principles:

• Commit to National Resilience: Investing in Canadian talent, manufacturing, and innovation isn’t just patriotic – it’s smart business.

• Lead with Long-Term Ethics: In a crisis, the temptation is to focus on short-term survival. Strong, resilient leaders make decisions that align with their values and their company’s legacy.

• Champion Collective Strength: Uncertainty is best navigated through partnership, not isolation. Industry collaboration strengthens national stability. Instead of outsourcing to the U.S., invest in a Canadian R&D hub – securing government incentives and attracting top talent to future-proof your company while reinforcing Canada’s innovation economy.

Executive Coaching Reflection Question:

1. What are the foundational core values of my business?

2. How are my decisions reinforcing my core values and long-term vision?

3. What upcoming decisions may create pressure on my core values? How will I prepare mitigants for that?

Strengthening Leadership Mindset in Uncertain Times

While uncertainty is challenging, it is also an opportunity to refine and grow your leadership. By cultivating a mindset of adaptability, strategic thinking, emotional intelligence, and purpose-driven leadership, you can guide your business – and Canada – toward a more resilient future.

Want to strengthen your leadership resilience and impact in the face of uncertainty? Executive coaching is a powerful tool in developing the clarity, confidence, and strategic insight to thrive in an evolving landscape. Schedule a discovery call with Leslie Rohonczy today to explore how executive coaching can help you lead with confidence.

WHEN THE LADDER BREAKS: Four Pillars of Career Transition

Turning Turbulence Into Opportunity

Career transitions are among the most challenging moments in our professional journey. Whether we’re stepping into a new role, considering a significant pivot, or facing the unexpected disruption of being let go, the emotional and practical demands can feel overwhelming. And on top of all that, the uncertainty of “what is,” the grief of “what was,” and the fear of “what’s scary” often collide, leaving us unsure how to move forward into “what’s next”.

This is why I created the Career Transition Model. Grounded in four core qualities – Curiosity, Compassion, Courage, and Honesty – this framework provides a structured, human-centered approach to navigating the complexities of career change. By focusing on each section of this model, we can transform a tumultuous experience into an opportunity for clarity, growth, and meaningful next steps.

Let’s explore the model in depth and uncover the benefits of focusing on each element in the transition.

1. COMPASSION: Accepting "What Is"

This is a tough time – it’s time to be gentle with yourself. When faced with career disruption, it’s natural to feel a range of emotions: grief, frustration, shame, or even anger. Compassion invites us to sit with these feelings without judgment. Instead of rushing to act or denying our emotions, this stage encourages us to:

• Acknowledge and honor what we’re feeling.

• Give ourselves the grace to process our grief or disappointment.

• Treat ourselves with the same kindness and understanding we would extend to a friend.

Compassion is about being present with our reality, no matter how uncomfortable it may feel. It’s the foundation for healing and ensures that our next steps come from a grounded and intentional place. Compassion creates space for emotional processing and clarity, reduces self-criticism, promotes self-acceptance, and prevents burnout by prioritizing emotional well-being.

2. HONESTY: Reflecting on "What Was"

Transitions are an opportunity to reflect on the past with clarity and honesty. This doesn’t mean dwelling on what went wrong, but rather assessing what worked and what didn’t in our previous role or career, so that we can identify limiting beliefs, behaviour patterns, strengths to be leveraged, and areas for growth to close gaps. It required us to ask ourselves tough but valuable questions like: “What lessons can I carry forward?” “What was I good at that I want to do more of?” “What gaps do I need to address?”

Honesty with ourselves – or what I like to call ‘accurate self-assessment’ – requires us to reflect on our past performance and engagement, so that we can move forward with a deeper understanding of what we need in order to thrive in our next chapter. This level of honestly with ourselves is a key step in the process because it promotes self-awareness and growth, provides clarity on what’s truly important to us, helps us identify gaps to be closed, and aligns our next steps with our values.

3. COURAGE: Facing "What’s Scary"

Fear often accompanies career transitions. The fear of failure, rejection, or making the wrong decision can feel paralyzing. Courage is about acknowledging our fears, leaning into them, and taking action that helps us overcome them. It’s about asking ourselves: “What am I afraid will happen?”, “What risks am I willing to take to move forward?” “What do I need to have / feel / believe in order to face this uncertainty with resilience?” “What’s one small step I can take today to address my biggest fear?”

Courage doesn’t mean eliminating fear; it means not letting fear dictate our choices. By taking small, intentional steps, we build momentum and confidence, even in the face of uncertainty. Acting with courage empowers us to take action despite our fear, builds resilience and confidence over time, and helps us confront challenges head-on, rather than avoiding them.

4. CURIOSITY: Exploring "What’s Next"

Curiosity invites us to lean into the unknown with a sense of openness and possibility. Rather than viewing this transition solely as a loss, curiosity encourages us to ask, “What opportunities might this open up for me?” “What have I always wanted to explore but haven’t had the chance to?” “What skills or passions can I leverage in new ways?”

This mindset shift allows us to see beyond the immediate turbulence and imagine our ideal state, and the potential of what could be. Curiosity is not about having all the answers – it’s about giving ourselves permission to wonder and explore, and cultivating the courage to dream without the pressure of immediate certainty. Maintaining our curiosity through this process encourages creative thinking and new possibilities, helps us shift from a reactive to a proactive mindset, and opens doors to opportunities we might not have considered before.

THE POWER OF INTEGRATION: The Intersections of the Model

Here’s where the Career Transition Model gets exciting: the intersections between these four qualities take us deeper, where meaningful action and transformation happen:

• COMPASSION + COURAGE = Process your grief and other uncomfortable emotions before acting.

• COURAGE + HONESTY = Self-reflect and identify the changes you want to make.

• HONESTY + CURIOSITY = Consider how you will close the gaps you’ve identified, and what you’ll need in your next role.

• CURIOSITY + COMPASSION = Combine expansive thinking with self-compassion as you dream boldly, and right-size what’s next.

WHY COACHING MATTERS DURING CAREER TRANSITIONS

It can be challenging to navigate career transitions alone. Working with an Executive Coach to help guide you in navigating the Career Transition Model can provide a deeply transformative, supportive, and human-centered program.

Executive coaching provides:

• A safe, judgment-free space to explore your emotions and aspirations.

• Tailored strategies and support to help you stay focused and grounded.

• Practical tools and accountability to move forward with confidence.

If you’re navigating a career transition, coaching can help turn uncertainty into clarity and fear into opportunity. Whether you’re an executive seeking career guidance, or an HR professional looking to support an exiting employee, this model and coaching approach can make a transformative difference.

Career transitions are rarely easy, but they don’t have to define us. By focusing on Curiosity, Compassion, Courage, and Honesty, we can navigate this time with resilience, intention, and hope. The Career Transition Model is a roadmap through the turbulence, helping you emerge stronger, wiser, and ready for what’s next.

If you’re ready to take the next step or want to offer meaningful support toy our team, let’s connect.

For more information on executive coaching or to explore how this model can support you or your team, contact me at www.leslierohonczy.com.

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