Understanding Change Management

Many companies may need to consider implementing change within their business but are uncertain where to start. This could involve structural adjustments due to downsizing, the need to expand or grow, introducing new products or services, or even changing operational methods to maintain and create new revenue streams.

One of the struggles that comes with change is getting everyone on board in your company to be 100% committed to supporting this change and then getting everyone committed to follow through.

People hate change, and sometimes when a company needs to change quickly for the benefit of the company’s future, the typical initial reaction is resistance, then acceptance, and then either disengagement or complacency, if not done right. This can be difficult for many companies especially if there are leaders in the business who don’t embrace the change needed and start disrupting things making the process harder for changes to occur for the benefit of them and not the company.

To rebuild a company in today’s world, you need to have your finger on the pulse with great insight and foresight. There are many reasons why a company needs to change the way it operates. It is important to understand why change is needed for your company to survive, and this must be well-communicated, otherwise, it can create havoc for the business where revenue streams can go from bad to worse.  Having good communication that creates a pathway forward including engagement of staff from your leaders will, in turn, generate the results needed for your company to survive and thrive again.

Many companies leave it to the last minute, procrastinating to make the changes necessary because it is too hard emotionally to address the issues that lie in front of them. Especially when dealing with long-term staff who have been loyal to them, or family members they must address, which makes it even more stressful. The thought of having to address the changes needed can be sickening to the person doing it, as what comes with change is confrontation, embarrassment, and blame while trying to follow a proactive process that sometimes becomes reactive, and potentially damaging to the company brand.

On the other hand, when managed correctly, change should be seen as a necessary and positive step forward.

At KBA we have developed a 10 Step Process for Change Management as per the below:

Step 1. – Reason for Change: First you need to define the reasons why you need to change. Then you need to look at how you are going to manage this change with minimum disruption.

Step 2. – Define Products and Services: You may need to look at your current lineup of products and services, what is profitable and what is not, and even look at introducing new products and services.

Step 3. – Define Systems and Processes: Review your current systems and processes for better efficiency. Investigate what other systems or technologies that could make your company more effective and efficient.

Step 4. – Staff Capability: Does your company have the right staff with the skillsets needed to take your company to the next level with change, and more importantly, do they have the right attitude where they want to support your company for change and future growth?

Step 5. – Create or Update your Strategic Business Plan: Prepare your plan outlining where you want your company to grow within the next 3, 6, 12, and 24 months with a 3-year vision is KEY! This is all about your reasons for change for the future survival of your company, and more importantly, it helps with the conversations of WHY your company may need to restructure and change for the benefit of the company.

Step 6. – Make the Changes: As part of mapping out your people management strategy, some internal staff changes may need to be considered such as restructuring, new positions created, or redundancies.

Step 7. – Communication to Your Team: When you have created your well-thought-out plan and have made the internal changes necessary to move forward, the next step is to bring the whole team together to explain the reasons for change and WHY.

Step 8. – Re-Induct and Re-Train Your Team: It is best to refresh everyone and bring them up to speed with the new changes that have been announced.  You need to follow through and the best way is to re-induct staff and train staff with updated position descriptions, policies, and procedures.

Step 9. – Follow Up on Milestone Achievements: Staff needs to be reassured that the company is on the right track by following the pathway that was created, and if needed, you can tweak or alter a few things but don’t move the goalposts.

Step 10. – Engage a Professional Company to support Change Management: Creating change in a company is not easy and it takes time. Sometimes you need to take a few steps backward to move forward. We see many companies create change within their business too quickly with high expectations and then things go from bad to worse both financially and people resources.

Creating change is always about improving financial outcomes and it is an emotional roller coaster for the business owner in so many ways. If you are struggling or need help, engage a team of professionals who can help you build/rebuild your business.

For more information on Change Management, download our 10-Step Plan to Change Management: https://keyba.com.au/change-management/

Key Business Advisors has a proven model that spans over 16 years. Let us help you deal with the emotions of change, and more importantly, deal with some of the HR/IR Compliance if you need to move people on. Most importantly, you need a company to hold you and your leaders accountable to grow your business. You never stop learning, and having an outsider with fresh eyes who will continue to push you out of your comfort zone and question, “Why?” is a good ingredient for continued success. Lastly, our workplaces are changing. Companies need to be more mindful of staff’s health and wellbeing.

At Key Business Advisors we have an amazing team that delivers results, that are aligned with our mission, vision, values, and purpose.  We take our clients from good to great because we become embedded in our client’s business through the services we provide, covering all aspects of employee engagement and performance. We have a proven model that results in building great client relationships all over Australia.

To learn more about our company and access FREE resources to help your business grow and get to the next level:

• Key Business Advisors – keyba.com.au
• KBA Business Strategy & Growth – https://keyba.com.au/business-advice-strategy-and-growth/
• KBA People & Culture – https://keyba.com.au/people-culture-business/
• KBA HR Advice and Support – https://keyba.com.au/hr-advice-support/
• KBA Professional Sales Training – https://keyba.com.au/professional-sales-training/

At KBA, we are passionate about taking businesses from good to great. If you need assistance in enhancing performance through a strong organisational culture, please don’t hesitate to contact us today!

If you would like to explore our services further or require assistance, please reach out to Key Business Advisors on 1300 4 ADVICE