What is Organizational Change Management? How can your organization develop exceptional strategies and effective Action Plans? Do you have Key Change Initiatives, a Business Plan or an Organizational Change Management Plan?
Change is a constant. Organizational change management deals with technologies, processes, people, ideas, and methods, all affecting the way we perform daily tasks and live our lives.
Understanding change and its components on an individual level can help us relate it to an organizational level. Change is important to understand, as it affects many facets of an organization. Its effect on the individual is of great importance as it will filter through and influence all levels of your firm. For information, contact us at firstname.lastname@example.org.
No organization is an island and external forces are always influencing and interacting with its existence. Individuals and organizations may have very little ability to influence such external factors such as politics, culture, economy, societal changes, or technology. Internal factors are very numerous, as almost any item or event can influence change within an organization, but some of the more influential ones are employees, policies, organization structure, managerial, and financial.
Today’s change management initiatives have become a business discipline, driving bottom-line results through changes in systems and behaviors. Managing change has therefore become a critical skill, both for leadership – and for workers in an organization. The Rothschild Corporation can help you.
For example, if you are merging two corporate cultures in an M&A event, it is a delicate task.
- Roughly 70 percent of all corporate mergers fail.
- Mergers can head south for many reasons, but difficulties created by cultural differences in merged companies seem to play a significant role.
- In 2009 McKinsey survey on post-merger integration, 92% said their companies would have benefited substantially from better cultural understanding prior to the merger.
The Rothschild Corporation can assist
The change management process can be traumatic for owners and employees
- Examine your motives.
- Prepare your employees for change.
- Set common goals.
- Define new roles.
Tools to Help the Change Process
- Communication: Keep the lines of communication open before, during and after the change.
- Education: Educate all parties on the reasons for the change, and what the expected outcomes will be.
- Training: Make sure all parties are trained and up to date with any and all material required for the change.
- Flexibility: Be flexible and ready to modify or update the current plan to account for any unforeseen events.
- Affected Parties: It is especially important to have the individuals that are involved in the change participate in the change process.
Let Rothschild Corp. facilitate your Organizational Change Management Planning Workshops to develop your business case for Key Initiatives, your Business Plan or your Organizational Change Management Plan. We can help you grow.