The UK government’s recent budget will impact many sectors in various ways. However, while this is a great hook for thought leadership, leaders sharing their opinions must tread carefully.
Certain leaders will welcome some policies, while others may spark frustration and overly emotional responses.
But while showing character is important, if you plan on expressing a political or cultural view, you've got to be very careful — your stakeholders will likely have conflicting opinions and you don’t want to lose their respect.
We’ve seen it time and time again. During heated debates, a leader makes one off-the-cuff comment on Twitter or LinkedIn, and before they know it, a media frenzy erupts.
This can even arise from seemingly positive actions, such as when energy leaders commit to renewables, only to face criticism from shareholders worried about share prices.
To tackle sensitive topics, you need some level of emotional awareness to understand how your stakeholders feel and avoid making inflammatory statements.
Then, identify the challenges your sector faces and provide real solutions to any hurdles.
For instance, with the tax rate on sold business assets increasing to 18% by the 2026-27 fiscal year, entrepreneurs and investors are bound to have their profits impacted.
However, rather than simply complaining about it, advocate for investment incentives that support innovation within your sector or reiterate the importance of portfolio diversification and joint ventures.
This way, you're actually going to engage your audiences and prompt a constructive debate.
Alternatively, if you anticipate price increases for your airliner following the Air Passenger Duty hikes, proactively manage consumer behaviour.
Don't downplay the need to adjust your pricing, focus on communicating how net-zero policies affect costs and be receptive to customer feedback.
Being fully transparent and taking control of the narrative within your industry is one of the best ways to build stakeholder trust. So, you shouldn't waste this opportunity.
For sectors such as healthcare, where confidence among patients and strained employees has already been low, this is particularly important.
Just make sure you don’t act on impulse.
Consider working closely with a comms team and undertaking media training so you can communicate your thoughts with nuance.
No matter the sector, with a positive and balanced stakeholder-first approach, every thought leader can inspire confidence and resilience within in their industries regardless of the budget's ramifications.