The Four Enlightening Aspects of Continuous Change
“Change for the better”, “Change is the only constant” and “Change before you have to”, all these words resemble something to transform, something to revamp and something to improve.
If you have a close look at all these handsome-sounding quotes, you can comprehend that the word “Change” is at the intersection and we are going to discuss the aspects of managing change and continuous improvement.
Table of contents
Favourable Approach to Change management
You might perceive that is point will cover all the approaches and theories related to it. No!
This article is not intended to create boredom, rather it is for generating wisdom. All the managers and C-suite intellectuals are already aware of the latest approaches. In this point, we are going to discuss the focused group survey of more than 13 people which we conducted based on the different approaches to incorporating the change management practices. Let’s glance at the numbers.
From this data we can decipher that majority of the people think that the top-down approach should be implemented, the responded also includes a few CTOs of different Countries. The second best choice dependent on the type of sector and the Culture of organization. Most of the people had given least preference to the bottom-up approach. Organizations need to rethink that , top-down is more of a strategic driven approach, where the CXO’s are the change initiators. Now, in this recent scenario the style of leadership is changing, Companies are giving their employees a chance to have their say on the policies, the culture is transitioning and the sectors as well. People are incorporating change within their teams to work on small improvements, employees are now the intiators of change. From this short survey we analysed that the type of sector, culture and goals also play an important role to shape the change management. If the top management sets protocols then it should be communicated wisely to all the levels, along with this the culture should promote the voice of employees through suggestion box to collect their opinion to plan & implement change management practices. This is just a narrow discussion. Now it is up to your company policy which should be ideal approach that should be chosen. Because there is no favourable approach as it can be the combination of all the approaches. Companies need to decide the combination based on their goals.
Propensity to adapt to Change
Many Organizations have the fear to adapt to change. Now here comes the factor of “Propensity to change” . A report by McKinsey & Company depicted that the failure rate of Organizational change management projects ranged at high rate of 60-70% since 1970s. This implies that the change is tough and many organizations lack the readiness and propensity to change. Feer of responding to failures, improper crisis management even if they have strong PR team, lack of trust and unity are some of the possible reasons which make organizations to fail in responding to major change.
Change has a price tag
Change can cost a fortune to many organizations. Change can be small or massive. Small process requires low budget, however technology integrations or IT system implementation can be exorbitant. Gartner had set the minimum threshold limit of 15% of overall system implementation budget for incorporating change management. However, it depends upon the goals, objectives, nature of business and the degree of IT transformation. It can also be more than 40% or even higher than this.
New-age norms are ruling
According to the Harvard Business Review, around 65% of the managerial tasks can be automated by 2025, the leadership styles are changing, it is inclined towards introspection rather than the authority, digital transformation should be complemented with the people transformation, more usage of Agile, Kaizen and Kanban softwares are being adopted, Hybrid work , Covid situation, Mental health and wellness, politics, socialization at workplace are some of the norms which are ruling. To manage this companies are devising strategies, investing in people, hiring Chief Purpose officers at the CXO level, Sustainability managers to manage the sustainability initiatives and there are many more process improvements that are instigating change management.
Hence to manage change all the levels should understand the need, leaders should follow democratic leadership, the change leaders should follow the “3 jewels or we can say the Cs of change leadership- Communicate, Collaborate & Commit” , being resilient when change occurs, employees should take self initiatives to formulate change at their own levels, formulate the right budget allocation and never fear,because the strategies will definitely pay off in the long run. At our company also we have implemented change management practices like yoga sessions to deal with mental health, installed new software for efficient recruitment and introduced “No meeting wednesdays” in which our employees are free from internal meetings and can focus on their own work to improve productivity multifolds. Always remember that change is pervasive, it can occur in the form of digital initiatives, business process reengineering, new well being programmes, new learning & development initiatives, crisis, Rebranding, M&A initiatives, CSR programmes, Conflict and any other inevitable situations. Multitude of factors can come and go but we should imbibe the values of togetherness & unity. “Together we drive change & together we thrive change” to successfully sail through the waves of the changes.