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How to Turn Times of Change and Uncertainty into Positive Opportunities
The document discusses the inevitability of change in organizations, highlighting that the average person will change jobs 12 times before retirement. It focuses on the types of organizational changes, their impacts on employee and employer morale, and emphasizes the importance of effective change management and learning development to navigate these changes successfully. Key takeaways include the necessity of a proactive approach, communication strategies, and the role of leadership in supporting change initiatives.
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How to Turn Times of Change and Uncertainty into Positive Opportunities
- 2. Presenting Today Daniel Binkholder ClientSuccess Manager BizLibrary Derek Smith Content Marketing Specialist BizLibrary
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- 4. The average personwill change jobs 12x before retiring
- 5. “Change is inevitable” & “Theonly certainty is change”
- 6. Few organizations effectivelymanage 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%
- 7. Change & Uncertainty TYPESOF CHANGE SCENARIOS vsPlanned Unplanned
- 8. Planned Examples MERGERS & ACQUISITIONSRESTRUCTURING LAYOFFS KEY LEADER TRANSITIONS
- 9. Mergers and Acquisition https://imaa-institute.org/mergers-and-acquisitions-statistics/ $79.4billion$74 billion $84.2 billion
- 10. Restructuring, Change inLeadership, & 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.
- 11. Unplanned Uncontrolled/Environmental/Disasters PR Nightmares Government/Law-Oriented Concerns Changesin Co-Dependent Industries Loss of key clients / Grant Funding Key Leader Turnover Technological/Industry Changes
- 12. POLL QUESTION What typesof change scenarios have you encountered during your career? A. Planned B. Unplanned C. Both D. Neither
- 13. Four Factors toMeasure EMPLOYEE ENGAGEMENT EMPLOYEE RETENTION PRODUCTIVITY CUSTOMER RETENTION
- 14. The Impact onEmployees LACK OF TRUST FEAR OF THE UNKNOWN POOR TO NO COMMUNICATION
- 15. 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
- 16. “…is not theoutcomes 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
- 17. The Impact onEmployers LACK OF TRUST IN EMPLOYEES FEAR OF THE UNKNOWN POOR COMMUNICATION
- 18. 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
- 19. Why L&D isneeded? “…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
- 20. Time of Opportunity& Problem-Solving Strategy
- 21. REACTIVE APPROACH PROBLEMSOLVING STRATEGY PROACTIVE APPROACH TIME OF OPPORTUNITY
- 22. Time of Opportunity LEADERSHIP/MANAGERTRAINING COMMUNICATIONS SUCCESSION PLANNING
- 23. Leadership and ManagerTraining 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
- 24. Understanding Change Management:The 4R’s Relationship Responsibility Reputation Response
- 25. Learning Agility andOrganizational Agility • Learning Agility • Learning Adaptability
- 26. Communication Trainings to improvecommunication: • Soft skills • Open door policy • Feedback
- 27. A Framework forYour 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
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- 30. Client Score 40% 10%10% 8% 8% 8% 8% 8% Utilization Course Value PreceivedValue Marketing Strategy Program Management Leadership Engagement Review Engagement Contact Frequency
- 31. Change Management ClientScore 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
- 32. 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
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- 34. Key Takeaways: • Changeis 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
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- 36. Organizational Change VideoCourse 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
- 37. Let us knowthrough 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!
- 38. Thank you forattending! Derek Smith Content Marketing Specialist BizLibrary Daniel Binkholder Client Success Manager BizLibrary