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How to Turn Times of Change and Uncertainty into Positive Opportunities

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Gone are the days of someone working for one company for their entire career. According to the Bureau of Labor Statistics, the average person will change jobs 12 times before retiring. This increase in employee turnover can often be attributed to times of change and uncertainty in the workplace, like layoffs, restructuring, mergers and acquisitions, etc. Change in the workplace is inevitable, but it doesn't have to be seen as negative, and it certainly doesn't have to become a reason for talented employees to leave your company.

Join Daniel Binkholder and Derek Smith from BizLibrary as they discuss how times of change and uncertainty can become opportunities to move your workforce in the right direction. They'll explain how learning and development is key to alleviating some of the stress that change and uncertainty brings to employees and their organizations.

During this webinar, you'll learn:
- Why not being prepare during times of change and uncertainty is creating higher turnover
- How to use L&D successfully during times of change and uncertainty
- The proper ways to communicate to keep a strong workforce during times of change and uncertainty

Published in: Recruiting & HR
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How to Turn Times of Change and Uncertainty into Positive Opportunities

  1. 1. Presenting Today Daniel Binkholder Client Success Manager BizLibrary Derek Smith Content Marketing Specialist BizLibrary
  2. 2. www.bizlibrary.com/demo
  3. 3. The average person will change jobs 12x before retiring
  4. 4. “Change is inevitable” & “The only certainty is change”
  5. 5. Few organizations effectively manage strategic initiatives Highly Effective – Change Enablers Moderately Effective Minimally Effective https://www.pmi.org/learning/thought-leadership/pulse/enable-change-strategic-initiatives Effectiveness of organizational change management 64% 18% 18%
  6. 6. Change & Uncertainty TYPES OF CHANGE SCENARIOS​ vsPlanned Unplanned
  7. 7. Planned Examples MERGERS & ACQUISITIONS RESTRUCTURING LAYOFFS KEY LEADER TRANSITIONS
  8. 8. Mergers and Acquisition https://imaa-institute.org/mergers-and-acquisitions-statistics/ $79.4 billion$74 billion $84.2 billion
  9. 9. Restructuring, Change in Leadership, & Layoffs RESTRUCTURING https://www.theverge.com/2018/6/12/17454004/elon- musk-tesla-layoffs-restructuring Tesla laid off about 9 percent of its employees as part of a “company wide-restructuring” CHANGE & LEADERSHIP In 2017 Uber’s former CEO stepped down after over a half-dozen of their investors demanded he resign. https://www.ceo-na.com/business/industry/change- leadership-uber/ LAYOFFS https://www.ceo-na.com/business/industry/change- leadership-uber/ J.C. Penney and Macy’s experienced more than 10,000 layoffs combined in 2018.
  10. 10. Unplanned Uncontrolled/Environmental/Disasters PR Nightmares Government/Law-Oriented Concerns ​Changes in Co-Dependent Industries Loss of key clients / Grant Funding​ Key Leader Turnover​ Technological/Industry Changes​
  11. 11. POLL QUESTION What types of change scenarios have you encountered during your career? A. Planned B. Unplanned C. Both D. Neither
  12. 12. Four Factors to Measure EMPLOYEE ENGAGEMENT EMPLOYEE RETENTION PRODUCTIVITY CUSTOMER RETENTION
  13. 13. The Impact on Employees LACK OF TRUST FEAR OF THE UNKNOWN POOR TO NO COMMUNICATION
  14. 14. Results • Low morale • “Only 27% of employees strongly believe in their company’s values, and less than half strongly agree that they know what their organization stands for and what makes it different” • Decreased loyalty • Visible employee disapproval of a company (social media, Glassdoor reviews, etc.) • Poor retention • Voluntary turnover is on the rise. • 76% of full-time workers, while not actively looking for a new job, would leave their current workplace if the right opportunity came along
  15. 15. “…is not the outcomes they get, but the processes. If people feel like processes are handled fairly in the organization, even if they don’t get the best for themselves.” – Deborah Small, Wharton Marketing Professor
  16. 16. The Impact on Employers LACK OF TRUST IN EMPLOYEES FEAR OF THE UNKNOWN POOR COMMUNICATION
  17. 17. Results • Low productivity • Only 18% of organizations are effective change enablers; 82% of companies are losing time and money from poor change management • Poor customer retention • Well known connection between customer retention and employee morale – Gallup • Company could close
  18. 18. Why L&D is needed? “…when there are recessions, people’s perceptions of their own standards of living did drop as the economy dropped. But that same drop was not registered in workplaces where employees said they have someone who encourages their development. There is something about having a mentor, or someone in your life who helps you see the future in the midst of chaos, that can make a difference.” - Adam Cobb, Assistant Professor of Management, Declining Employee Loyalty
  19. 19. Time of Opportunity & Problem-Solving Strategy
  20. 20. REACTIVE APPROACH PROBLEM SOLVING STRATEGY PROACTIVE APPROACH TIME OF OPPORTUNITY
  21. 21. Time of Opportunity LEADERSHIP/MANAGER TRAINING COMMUNICATIONS SUCCESSION PLANNING
  22. 22. Leadership and Manager Training Supports change by: • Improving listening skills / encourage sharing • Ability to answer questions thoughtfully • Help build and demonstrate trust • Being honest and appropriately confidential • Doesn’t stop at management level • Assist in creating SMART goals
  23. 23. Understanding Change Management: The 4R’s Relationship Responsibility Reputation Response
  24. 24. Learning Agility and Organizational Agility • Learning Agility • Learning Adaptability
  25. 25. Communication Trainings to improve communication: • Soft skills • Open door policy • Feedback
  26. 26. A Framework for Your Crisis Communication Strategy PHASE THREE: POST-EVENT STRATEGIES Maintain open lines of communication for feedback PHASE TWO: EVENT STRATEGIES Identify stakeholder distress and decrease it Consistent communication PHASE ONE: PRE-EVENT STRATEGIES Identify stakeholders Outline Create consistent messaging Everyone must be on the same page
  27. 27. Succession Planning
  28. 28. Problem-Solving Strategy • Partnership
  29. 29. Client Score 40% 10%10% 8% 8% 8% 8% 8% Utilization Course Value Preceived Value Marketing Strategy Program Management Leadership Engagement Review Engagement Contact Frequency
  30. 30. Change Management Client Score Elements Perceived Value Leadership Engagement Leadership Engagement/Marketing Contact Frequency & Review Engagement Program Management Effective Practices Having well-defined milestones and metrics Having senior management committed to change Having engaged executive sponsors Establishing and communicating concrete ownership and accountability Using standardized project management practices
  31. 31. Change & Uncertainty • Achieve Success of Planned Change • Survive (and thrive) after unplanned change • Employee Retention • Establishing a more Agile Culture • Seamless Customer Experience • Company Dissolution • Loss of productivity • Derailment from the mission and vision of the company • Employee retention concerns • Alienating Customers • Failure to achieve results of planned change • Executive Goal Setting • Communication • Leadership and Motivation • Agility • Managing Change • Understanding Organizational Change • Developing Employees • Partnership If Not Solved: If Solved: Training Solutions: Managing Change and Employee Fear while Achieving Profits During Organizational Change
  32. 32. Changing the Mindset
  33. 33. Key Takeaways: • Change is inevitable, but that doesn’t have to be negative • Planned vs. Unplanned times of change • The impact of times of change and uncertainty on employees and employers • How to utilize L&D for Time of Opportunity and a Problem Solving strategy • All about changing the mindset
  34. 34. Questions?
  35. 35. Organizational Change Video Course This course, which comprises five video lessons, describes types of organizational changes and provides actionable tips for how to navigate them. In addition, it explains why people often resist change so vehemently and conveys what information is crucial to communicate to employees when an organizational change is on the horizon. After watching this course, learners should feel confident in their ability to get buy-in for needed change and, ultimately, help change take root in the organization. Organizational Change
  36. 36. Let us know through the poll if you’d like a free demo of BizLibrary’s online course collection. www.bizlibrary.com/demo Try out these video lessons and more!
  37. 37. Thank you for attending! Derek Smith Content Marketing Specialist BizLibrary Daniel Binkholder Client Success Manager BizLibrary

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