Guiding your business doesn’t have to be a challenge. Change management is the key to business development and success. Learn the hows and whys:
Nearly all businesses around the world have undergone an organisational change in one way or another during the last year. As nations begin to heal, talks of the “new normal” beyond the pandemic are starting to look like a real possibility rather than a far off dream. For many businesses, it is unclear what this post-pandemic working world might look like. However, change is on the horizon and managing this next stage effectively will either make or break an organization. In order to make this transition as smooth as possible, businesses need to implement compelling and practical Change Management strategies that can guide them through this next phase in 2021.
What is Change Management?
Change Management is the general term used to describe the approaches that businesses take when making both short and long-term organizational change, both of which are often necessary for businesses that want to survive and be successful. Change Management assesses the stages that a company goes through when it evolves and uses various methods that aim to optimize the use of resources, improve businesses processes, and reallocate budgets were necessary to help push an organization forward.
When starting to implement Change Management within an organization, it is best to look at the models that already exist. Some common Change Management models include Lewin’s Change Management Model, The McKinsey 7-S model, Kotter’s theory, and ADKAR. This list is by no means exhaustive and the benefits of using one model over another depend entirely on the business’s preferences and its needs at the time. However, it is important for business leaders to recognize that simply implementing a Change Management strategy is not a fix-all solution. In fact, it has been recorded that more than 70% of organizational change management process initiatives actually fail to meet their goal, and this is without the added challenge of a global pandemic and a dispersed workforce.
Guiding Your Business
All around the world, businesses have been forced to transition online in one way or another. With this shift, employees have started to realize the benefits and pitfalls that come with remote work and, as a result, the expectations of the workforce have shifted, too. Now, many businesses are in limbo, not knowing what their “new normal” will look like once pandemic restrictions ease. For Change Management to be truly successful, businesses must make a firm decision as to how they would like to proceed.
The fact is, it is no longer an option to simply just return to the office and expect staff to carry on as if nothing happened. Equally, having an entirely remote workforce may not be a practical option. It is likely that many will choose to adopt a hybrid working model (a blend of office-based, semi-remote, and remote employees).
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We specialise in supporting change across the insurance sector, helping insurance businesses (and other businesses) adapt seamlessly. Our services include Change & Transformation, M&A Integration, Business Process Management and Executive Coaching.
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