When I was starting off in business, we didn’t know a lot about what other organisations were doing. Of course there were newspapers, there were magazines and there were conferences, but the speed at which we learnt what was going on was…slow. You might get the odd piece about the biggest brands of the day (at the time in HR management that was Marks and Spencer), but for most organisations in most sectors, in order to understand what someone else was doing, you had to give them a call.

Fast news and the impact of the internet and social channels on our personal attitudes and opinions is well researched and it would be surprising if this didn’t replicate itself in the world of business as well. Of course, the widespread access to data and information has many benefits as business leaders, we have more evidence available to us at the touch of a button than ever before. But at the same time, I wonder whether it can be a driver of poor corporate decision making and ultimately bad business too? Does the fast spread of corporate news and opinions lead to pressure in the boardroom to make decisions that previously we would have taken much longer to make?

There are two examples that spring to mind, the first relates to the corporate response to the Black Lives Matter movement in 2020. The world was rightly shocked by the events and many people felt personally compelled to make statements, take action and show support. Almost overnight companies replicated those personal actions, but the speed at which they did that led to many being called out for hypocrisy. How much of this was due to the speed of decision making, the need to respond publicly as other brands took to the world stage with their positions? What actions would the organisations have taken if social media didn’t exist and they could have taken the time to reflect on the right course of action based on their organisation?

The second example comes on the back of the pandemic and the almost exhausting debate about whether office based workers should return to their places of work. Corporate after corporate came out in 2020 and 2021 with big bold statements about “working from anywhere”, that this was all about “trusting their workforces” and that this was the “future of work”. In order to get cut through in the noisy post pandemic debate, proclamations became bigger and bolder each time (whilst they sold off real estate or withdrew from leases – but that’s another story) in a reflection of the “war for talent”. They hadn’t conducted any analysis or research, they just parroted what others were doing in the corporate panic. That so many of them are now going back on the original stated position tells you all you need to know about the way in which this decision was made.

Of course, the internet, social media and fast news aren’t going away so what does that mean for the leadership of organisations? It means we need to have a clearer North Star for our organisational culture, it means those of us in HR need to be stronger in ensuring that decisions (no matter what the external pressure) are aligned with that North Star and it means we need to go slower on things that will be harder to unravel if they go wrong – just like any other major business decision. Fast news can be really bad business, sometimes we need to close our eyes and our ears and ask ourselves what we think is the right answer, instead of asking what others are doing. Sure we might not be first, but we need to ask whether we’d rather be slow and right or repent at leisure.