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Last updated on Dec 18, 2024
  1. All
  2. Oil and Gas
  3. Petroleum Engineering

Your team is struggling with market instability. How can you provide the support they need?

Market instability can unsettle any team. To bolster confidence and keep your team focused, consider these strategies:

- Encourage open communication to address concerns and foster a sense of unity.

- Provide continuous training to adapt to new market conditions swiftly.

- Reinforce the vision and long-term goals to maintain perspective amidst fluctuations.

How do you keep your team steady when the market feels like a rollercoaster?

Oil & Gas Oil & Gas

Oil & Gas

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Last updated on Dec 18, 2024
  1. All
  2. Oil and Gas
  3. Petroleum Engineering

Your team is struggling with market instability. How can you provide the support they need?

Market instability can unsettle any team. To bolster confidence and keep your team focused, consider these strategies:

- Encourage open communication to address concerns and foster a sense of unity.

- Provide continuous training to adapt to new market conditions swiftly.

- Reinforce the vision and long-term goals to maintain perspective amidst fluctuations.

How do you keep your team steady when the market feels like a rollercoaster?

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Help others by sharing more (125 characters min.)
15 answers
  • Contributor profile photo
    Contributor profile photo
    Pedro Mathias

    Executive Director | Area Director | Human Factors | ESG | Safety Regulations

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    Em tempos de instabilidade de mercado, recomendo a abordagem de criar um ambiente de comunicação aberta, onde preocupações podem ser discutidas sem julgamentos. Investir em treinamento contínuo para capacitar a equipe a se adaptar às mudanças, especialmente em relação a marcos regulatórios. Reforçar a visão de longo prazo da empresa, apoiada em indicadores realistas, para manter o foco no futuro, mesmo diante de flutuações. Acima de tudo, acredito que a calma e a liderança equilibrada inspiram confiança, ajudando a equipe a enfrentar desafios com resiliência.

    Translated
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  • Contributor profile photo
    Contributor profile photo
    Ali Al-Hammad

    Sales Manager

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    Communication -Transparent Updates: Keep your team informed about company status and changes. - Open Channels: Encourage sharing of concerns and ideas. Emotional Support - Empathy: Show understanding and support. - Wellness Programs: Offer stress management resources. Professional Development - Skill Development: Provide learning opportunities. -Mentorship: Foster a supportive environment. Flexibility -Adaptability: Adjust work processes as needed. -Work-Life Balance: Offer flexible working options. Recognition -Acknowledge Efforts: Recognize hard work and resilience. Practical Support -Resources: Ensure necessary tools are available. -Financial Assistance: Provide incentives if possible.

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    4
  • Contributor profile photo
    Contributor profile photo
    Sawant Shashank

    Senior Competency & Career Development Leader @ Baker Hughes | MBA in Oil and Gas

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    1. Open Communication: Keeping the lines of communication open. Regularly update team about market conditions, company performance, and strategic decisions. 2. Provide Training: Equip team with the necessary skills and knowledge to navigate the market. This could include training on risk management, market analysis, or new technologies. 3. Emotional Support: Recognize the stress that market instability can bring. Offer support and resources for mental health and well-being. 4. Recognition and Appreciation: Acknowledge the hard work and dedication of team. Celebrate successes, no matter how small. By fostering a supportive environment, you can help your team navigate through market instability with resilience and confidence. 😊

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    4
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    Contributor profile photo
    ✔Roman Subbotin

    Business Developer | Oil & Gas Industry | Project Management & Digital Transformation Expert | Strategic Business Development | Operational Excellence |

    • Report contribution

    🔶🔷Market instability is like riding a rollercoaster blindfolded—thrilling for some, terrifying for others. 🎢 Start by creating a safe space for open communication; even the bravest riders need to scream sometimes. Equip your team with training to navigate sharp turns (or market shifts). Most importantly, remind them why they got on this ride in the first place—your shared vision is the anchor. 🚀 How do you steady the cart when the tracks get shaky? Let’s swap strategies!

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  • Contributor profile photo
    Contributor profile photo
    Pallav Kumar

    Geophysicist (Surface)- ONGC| 🥇BHU Gold Medalist | DST-Inspire Fellow| GATE 2023/24/25 | CSIR- UGC JRF 22/23

    • Report contribution

    Clear and frequent communication is essential to address uncertainty and maintain trust.Acknowledge the Situation: Be honest about the challenges your organization is facing. Avoid sugar-coating the truth, but remain optimistic about overcoming difficulties.Provide Regular Updates: Share consistent updates about market conditions, company performance, and any changes to plans or goals. Keeping the team informed minimizes rumors and confusion.Encourage Open Dialogue: Create an environment where team members feel safe sharing their concerns or asking questions. Listening actively and responding with empathy shows that you value their input and well-being.

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    3
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