Successfully Navigating Business Change
Change – even positive change – can be hard for many organizations and those who work for them. However, the business world is not static. Companies must frequently adjust their strategies and goals to deal with new conditions, shifts in the marketplace, business transformations, and much more.
Sometimes changes are positive, and sometimes they’re a response to more negative situations. However, if handled successfully, an organization can navigate changes without major disruptions to employees and business activities.
Here are some ways to successfully deal with change in an organization.
Your leadership will be crucial at navigating change and keeping your organization going through the entire process, as well as afterward. Leaders who are effective communicators and who are upbeat and excited about the change will inspire and motivate your team. Look to the leaders on your team that you can trust to steer the organization through the change. You can’t handle everything on your own and leaning on the skills of your leadership team is critical for successful change.
Most employees will likely fear change. If the organization is shifting its focus, people may worry that their skills will no longer be needed, for instance.
It’s natural for people to worry if a company is closing offices or discontinuing products, but people tend to worry even when the change is generally considered “positive.” For example, if an organization is expanding into a new market or making an acquisition, team members could become concerned that their roles may become redundant due to a new influx of talent or shift in focus. Even smaller changes such as using different software for day-to-day work can cause stress and anxiety.
To alleviate many of these fears, it’s important to communicate effectively. Be as open and honest with your team as possible, listen to the questions and concerns of your employees, and make sure everyone understands why the change is occurring and how it will help the organization long-term.
Look for Opportunities
With any change, there are opportunities for improvement. If you’re entering a new market, for example, there could be opportunities to streamline your processes or modify your strategies that will improve business overall.
Encourage your team to look for such opportunities and work with management to implement them. This will help show employees the benefits of the change and keep everyone in high spirits and motivated. When team members know their work can a positive affect on the company, they’ll be much more engaged than if they feel like the change is happening “to them” without their input.
A common fear around change is that “things have always been done this way” and that doing things differently will be frustrating, complicated, or lead to negative consequences. Another potential concern is that existing employees may worry their skills won’t be required in the organization once the change takes place.
Providing training for your team will give them the opportunity to learn new skills and see the benefits of new methods. This will help them cope with changes and successfully transition into their new roles, if needed.
Get Expert Help
Change often means taking your organization into an area that your current team is unfamiliar with. While you may want to consider hiring new staff to help navigate these changes, bringing on new full-time employees may not be practical or necessary.
In these situations, working with experienced professionals on a contract basis can be incredibly beneficial. For instance, the team at Ralevic & Ralevic LLP can provide expert guidance on mergers and acquisitions, as well as business restructuring and reorganization. We can help your company identify and mitigate risks, forecast future profits, plan and clarify company goals, and much more. For more information on how we can help, please contact us today.