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101 - Part 2

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Created on June 22, 2023

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Transcript

Why does Change Management matter?

‹#›

Successful Change Requires Many Components

Change Realization
Vision
Skills
Resources
Motivation
Action
Confusion
Skills
Motivation
Action
Resources
Anxiety
Vision
Resources
Motivation
Action
Resistance
Vision
Skills
Resources
Action
Frustration
Vision
Skills
Motivation
Action
False Start
Vision
Skills
Resources
Motivation

The Change Adoption Curve

Each change induces a process of acceptance. It is a necessary step in order to understand a change positively.

Why is supported change management important?

To achieve business objectives by communicating what is changing and why

Transformations where senior leaders communicate openly and honestly about progress are…

8x

More likely to succeed than those who don’t

It allows your leadership team to align and unite the organization around clear goals

Transformations where senior leaders used a consistent change story to align the organization around its goals are…

4x

More likely to succeed than those who don’t

To build ownership and empowerment by giving employees a role in the change

5x

More ownership than those who have been “told” the solution

Transformations where employees feel they have co-created a solution feel...

SOURCE: McKinsey Transformational Change Survey 2014, n = 1,713 respondents

Change Management is a crucial part of any business transformation process

Effective change management strategies facilitate employee buy-in and participation, increasing the likelihood of successful adoption of new processes, technologies, or organizational structures.

Well-managed change reduces disruptions, confusion, and anxiety, allowing employees to maintain focus on their work. This leads to higher productivity levels during transitional periods.

Enhance Productivity

Maximize Adoption

Change often meets resistance from employees, leading to productivity losses and project failure. Change management helps identify and address resistance early on, ensuring smooth transitions and increased employee acceptance.

Change initiatives can carry inherent risks such as budget overruns, delays, or unintended consequences. Change management methodologies help identify and mitigate these risks, ensuring better project outcomes and reduced financial implications.

Minimize Resistance

Transformation Drivers

Mitigate Risks

In today's dynamic business environment, organizations must adapt to survive and thrive. Change management enables organizations to develop resilience by building a culture that embraces change and fosters continuous improvement.

Change management aligns organizational changes with strategic objectives. It ensures that initiatives are driven by a clear vision and that all stakeholders understand how the changes contribute to long-term business goals.

Organizational Resilience

Alignment

Morale and Engagement

When employees are involved in the change process and provided with the necessary support, it enhances their morale and engagement. They feel valued and empowered, leading to higher job satisfaction and retention rates.