INTHEBLACK November 2021 - Magazine - Page 65
CLICK HERE
TO LISTEN
to a CPA Australia
podcast on best
practices by
finance teams
PAUSE AND
REFLECT
For business partners struggling to deal with
conflict, registered psychologist Caryn Cridland
advises to hit pause and reflect.
Above: Kathleen Vouris CPA
Vouris says that, in her experience, about 99 per cent
of people who have gone through a dispute resolution
process believe that they would have been better off
financially if they had taken a less emotional approach.
To that end, she recommends that partners, directors
and shareholders stay in close contact with their advisers
– whether it’s an accountant, a lawyer or an insolvency
expert – if a conflict arises.
“You need to know what your options are should
anything occur, so you can make proper decisions. I can’t
see how anyone can make really good decisions in an
emotional state.”
If the dispute cannot be settled, the business may need
to be wound up and an insolvency expert such as Vouris
would need to realise the assets and divvy up the spoils.
However, she warns that such a “fire sale” will, in most
cases, lead to partners losing out financially. “With any
insolvency, potential buyers think they’re going to get a
bargain, and if I’m trying to sell assets under the branding
of ‘liquidation’ you can imagine how that goes.”
Caryn Cridland, founder of
Mindful Mediation, a specialist
workplace consultancy, believes
four elements are the key to
solving disputes – communication,
emotional intelligence,
personality and leadership style.
Cridland measures clients’ skills
and preferences in these four
areas to help them understand
how they became embroiled in
the dispute in the first place, and
what they can learn about
themselves to help them resolve it.
“Some people feel that their
identity is being challenged in
a dispute and take it very
personally,” says Cridland. “Others
see conflict as a necessary and
creative part of life and business.
This difference alone, in the way
people view conflict, can stand in
the way of a resolution.”
To help people involved in
conflict to resolve disputes and
to prevent future issues from
arising, it is important to build
the following interpersonal skills.
Communication – In many
instances of workplace conflict,
aggrieved parties say they don’t
feel listened to or valued.
Business leaders should try to
be fully present and listen to
their feelings and needs, as
well as those of others.
“Even two minutes of
presence is enough to move a
person emotionally. It’s a very
powerful thing.”
Emotional intelligence – A
trained yoga and qi gong
teacher, Cridland believes such
practices can help leaders react
less emotionally and in a more
measured way when disputes
occur, rather than switching to
fight or flight mode.
“Leaders who invest in
managing their own emotions
are more likely to respond to
events unfolding rather than
react to a triggering situation.”
Leadership style – Cridland
helps leaders identify their own
preferred leadership and
communication style, values,
motivators and goals.
“Once leaders are clear on who
they are, what they stand for and
their goals, they are more likely
to see others clearly and work
out a path forward with insight
and adaptability.”
intheblack.com November 2021 65