Partner: GCS
Professionals who view the business professionals who interact with the business rescue process – and are not BRPs – often ask why there is so much focus on change management and why it is crucial for a company to disrupt itself.
We will get into the specifics in just a minute. Change management allows companies to critically examine their operating models and identify what is working well for a company and what is not. Change management is a long process usually undertaken following an independent business review.
Why is change management so important? I recently read an article on the africa.com website which discusses this in more detail.
Change is a process, not a switch
The article points out that a well-defined change and communication strategy is crucial for people to embrace the new and for the spaces to work effectively. While workplace design is an essential piece of the puzzle, it’s not the only one.
Change champions have the challenge of impressing upon their colleagues that the change is for all and not just for some while also managing leadership buy-in to ensure the success of the change. When creating alternative spaces in the working environment, it is essential to communicate their intended use and to lead by example. Such areas should be celebrated, along with the practicalities of use and benefit to staff. Overall, a clear plan can help avoid unforeseen impacts that can quickly add up to losses and protect the investment being made in moving to a new way of working.
Change must be an all-in undertaking
The article adds that there is more to change management than internal communications and messaging.
Although some business leaders might be reluctant to outsource what they consider internal communication to hired consultants, an outside perspective often proves to be precisely what they need, and many organisations have discovered that the same design experts they collaborated with in creating their new space were, in fact, their best asset for managing the transition.
Design firms now offer change management consultation as an extended service to help businesses face the unfamiliar challenge of a major workplace strategy rollout. This brings together executives, management, and human resources personnel with the marketing department to craft and implement effective communications on everything from optimal use of the new workplace to supporting employee wellness to successfully adapting to in-person modes after months of working remotely.
Image By: Microsoft Edge via Unsplash
Facing challenges when on the move
The article points out that the biggest challenges experienced are usually resistance to change or disengagement from staff due to lack of involvement, poor communication or a ‘ship-in/ship-out management approach.
At the heart of it, change management is about involving employees in decision-making and solution development. Giving them a voice makes them feel included and more receptive to change. No matter the size of the project, communicating throughout the process builds trust and gives employees time to digest and provide constructive feedback. Ultimately, participation creates ownership.
Ingredients for successful change management
- transparency: be clear about the message and the need for change. People don’t necessarily expect leaders to have all the answers or to be given everything they ask for, but they do expect to be informed and involved in decisions that affect them;
- focus on empathy: take time to get to know the staff and gather data. What is the demographic of the workforce? Most companies have a mix of Gen Z, Millennials, Gen X, and Baby Boomers. Due to different experiences and knowledge, each generation will have different concerns, and the proposed solution should reflect an appreciation of this; and
- anticipate resistance: it is important not to ignore push-back but address it where possible. It might not be possible to win everyone over, but with the proper communication, education and patience, it is often possible to change employees’ perspectives positively.
Change inspires growth
The article adds that change is often tricky but can heal. As people, we cannot avoid change and must embrace a new reality in how we live, work and play.
Many changes have been forced rather than chosen due to the pandemic, but we now have the power in our work environments to control some of the changes that affect us. In the same vein, employers have the opportunity to lift employee well-being through change management positively. Change can be gruelling, but if managed well, it can be one of the most powerful catalysts for improving staff health and well-being, contributing effectively to employee loyalty and retention.
Image By: Microsoft Edge via Unsplash
The next wave will come from Africa
It is no secret that the world is currently experiencing a challenging economic climate where growth and stability are hard to come by.
However, these storms do not last forever. Many economists predict that Africa will drive the next period of significant global economic growth. In fact, three of the world’s top ten fastest-growing economies before the Pandemic were African.
South Africa is a prime candidate to lead the African charge. We were once Africa’s largest economy and is still the most diversified economy on the continent. Addressing challenges such as the energy crisis and Transnet’s logistical challenges will allow us to create new growth levers.
The African charge can only occur with companies that are structurally sound and used to the level of disruption we currently see. If we apply change management now, we will reap the benefits of this growth later.
Moses Singo is a Partner at Genesis Corporate Solutions and is a Senior Business Rescue Practitioner.
