Shortest-Serving UK Prime Minister

Happy Friday!

On this day, October 20, 2022, the Prime Minister (PM) of the United Kingdom, Liz Truss, resigned after just 44 days in office, the shortest tenure of any British premier in history. Appointed on September 6, Truss’ brief premiership was marked by economic turmoil and internal party revolt after proposing controversial tax cuts that roiled financial markets. On her first day, Truss announced a new Chancellor and sacked the most senior civil servant in the Treasury. A mini budget unveiled on September 26 featured £45bn of unfunded tax cuts, which triggered days of chaos in the markets, sending the pound plunging to a record low and forced an unprecedented £65bn intervention by the Bank of England. Apparently, the PM and Chancellor rejected the opportunity to receive an assessment of the budget proposal by the OBR (Office for Budget Responsibility). Liz Truss performed U-turns before and after she sacked the Chancellor on October 14, 2022, but the damage was done.

On the day before Liz Truss resigned at PM’s Questions on October 19, she told us, “I am a fighter and not a quitter. I have acted in the national interest to make sure that we have economic stability.” Change leaders should be aware of the potential impact of their decisions, considering the short-term and long-term consequences for stakeholders and their organisation. They should be aware of their own strengths and weaknesses, acknowledging when they may require additional expertise or support in certain areas. New leaders should build a diverse team of trusted advisors and maintain an openness to learning as they transition into their role. They openly and actively seek feedback from their wider team members, stakeholders, and experts to gain valuable insights, identify blind spots, and make informed decisions. While confidence is important for leading change, leaders should also demonstrate humility, recognising that they do not have all the solutions. Change Leaders Avoid Hubris and Nemesis.

“Change leaders actively avoid hubris and the subsequent nemesis. They are self-aware, surround themselves with a diverse team, embrace a learning mindset, and seek external input and feedback, while balancing confidence with humility”

Humility is the quality of recognising that you do not have all the solutions, you are not perfect. Socrates argued that humility is the greatest of all virtues. Humble change leaders focus on employee change adoption and getting them to perform in the new way of working. They will quickly share the credit for change success and just as quickly admit their own shortcomings. They show they can be vulnerable and will be open to listening to the employees for their ideas on how the change can be improved. Humble change leaders also build higher rates of employee engagement, face less resistance, and get better employee change adoption rates. Change leaders who exhibit humility are more relatable, approachable, and thus make great role models during change.

Have a fantastic weekend with the ones you love and care for, enjoy some fresh air, exercise, eat, drink and be happy.

Further Reading: Change Management Leadership: Leadership of Change Volume 4

Peter consults, speaks, and writes on the Leadership of Change^®. He advises CEOs on how to prepare and align their corporate leadership teams to successfully lead their organisation's change.

For further reading please visit our websites: https://www.a2b.consulting  https://www.peterfgallagher.com Amazon.com: Peter F Gallagher: Books, Biography, Blog, Audiobooks, Kindle

Leadership of Change® Body of Knowledge Volumes: Change Management Body of Knowledge (CMBoK) Books: Volumes 1, 2, 3, 4, 5, 6, 7, A, B, & C available on both Amazon and Google Play:

~ Leadership of Change® Volume 1 - Change Management Fables

~ Leadership of Change® Volume 2 - Change Management Pocket Guide

~ Leadership of Change® Volume 3 - Change Management Handbook

~ Leadership of Change® Volume 4 - Change Management Leadership

~ Leadership of Change® Volume 5 - Change Management Adoption

~ Leadership of Change® Volume 6 - Change Management Behaviour

~ Leadership of Change® Volume 7 - Change Management Sponsorship

~ Leadership of Change® Volume A - Change Management Gamification - Leadership

~ Leadership of Change® Volume B - Change Management Gamification - Adoption

Coming soon:

~ Leadership of Change® Volume C - Change Management Gamification - Behaviour

~ Leadership of Change® Volume D - Change Management Gamification - Sponsorship

~ Leadership of Change® Volume E - Change Management Gamification - Leadership Teams

By Peter F Gallagher

Keywords: Business Strategy, Change Management, Leadership