We’re living in uncertain times and are often reminded how change has not only hit us like a truck but has also affected our daily lives. However, when it comes to our organisations, to change how we operate and serve our customers is no small feat to achieve. When an organisation goes through changes even at the grassroots level, whether it is swift or gradual, planned, or unplanned, it is going to affect the employees if not managed effectively. In such cases, as a leader, you must guide your team through all the changes successfully.
A constant process of evolution is the only way to move forward in the present dynamic business environment. It requires leaders and managers who can keep up with the ever-changing industry standards. With advances in technologies, globalisation, fickle economies, crisis, etc., organisations must adapt to stay relevant. Therefore, choosing to change while simultaneously creating values in the process is what an organisation is bound to look for in a leader.
What is change management in organisations and why is it important?
Organisational Change Management (OCM) is a framework designed for managing structural and cultural changes within an organisation. The execution of organisational changes has always been tough and there’s enough research to support the fact that most transformations continue to fail. For example, according to McKinsey’s Company research, 70% of change programmes fail to achieve their goals due to employee resistance and lack of management support. On the other hand, when people truly believe in the change it is 30% more likely to have positive outcomes. The dynamic corporate environment adds an extra layer of urgency and complexity to every new industry trend that companies increasingly react to.
Through a McKinsey Quarterly article, “The Psychology of Change Management”, it was found that transformations are successful when they focus on four key actions under “The Influence Model”:
1. Fostering Conviction
2. Reinforcing Changes Through Formal Mechanisms
3. Developing Talent
4. Role Modelling
A 2019 study by Gartner has revealed that human resource managers are often not satisfied with the
speed of organisational change management. This is because 80% of companies are from the top-down approach, i.e., the leadership makes the decision, create the plan, and send instructions to the entire staff. However, this isn’t the best long-term solution.
Often, the management tends to blame the employees for unsuccessful changes. But data shows that most employees do possess skills and willingness to undergo organisational changes. The real issue is in deciding who is part of the decision-making and implementation process of this change management.
Given the changing times of Industry 4.0 that we’re living in, companies require complex leadership skills and especially those who have expertise in change management. Organisations also fail to note that for change to be effective it must be all-inclusive and for this thought to take life, a well-groomed leader is what is the need of the hour.
The solution
A survey by Gartner has found that managers are well-aware of the importance of leadership in organisational change. In 2021, organisational design and change management would be the top priority for 46% of organisational leaders while the present and future leadership would be top priority for 44% of them.
To excel in your career as a leader of change management in an organisation, one must possess a thorough knowledge of team leadership, leading change, along with influencing and negotiation tactics to be able to effectively orchestrate various business and company goals.
The Executive Programme in Leadership and Change Management (LCM) by IIM Tiruchirappalli is designed for you to learn and experience the nuances of ‘leadership’ and ‘managing organisational change’ whilst also keeping you abreast with leadership competencies that will help you lead transformational change in your organisation. LCM is precisely aimed at addressing the symbiotic process of change so that the companies can wholly embrace it and stay industry relevant.
Fundamentally, it’s a certification that will open multiple avenues to advance one’s career.
To know more: https://timestsw.com/course/iim-tiruchirappalli-executive-programme-in-leadership-and-change-management/
