Change Management West X Business Solutions Vancouver

The Importance of Change Management

Survival is based on the ability to adapt. This is true for organizations and businesses of all sizes that want to stay competitive. However, adaptability is only possible if everyone involved—individuals, departments, or even the entire company—is willing to do something new or different. That’s why change management is so important.

 

What Is Change Management?

Change management is a structured approach to transition individuals, teams/departments, and organizations from a current state to a future state. Specifically, it’s a plan that helps employees (stakeholders) understand, commit to, accept, and embrace the change that will impact their way of getting things done.

 

Why Is Change Management Important?

According to Gartner, the average surveyed organization makes five major enterprise changes in three years with the following results:

 

Change Management West X Business Solutions Vancouver

 

Gartner researchers believe that many organizations fail to implement change effectively, which takes a toll on employees, resulting in lower employee productivity and costing $32.5 million per $1 billion in revenue.

 

Not only does a failed change reduce productivity, it also means the organization has wasted resources on a poor investment.

 

Approaching Change Management

A change management plan is more than just training employees on new tools or processes. It’s mostly about having and maintaining open channels of communication. Employees need to understand why the change is happening and how the change will benefit them and the company.

 

While exact methodologies differ, many experts agree on these change management best practices:

 

  1. Identify an executive sponsor
  2. Dedicate change management resources
  3. Create and apply a structured approach
  4. Engage with employees and encourage their participation
  5. Communicate frequently and openly
  6. Integrate and engage with project management
  7. Engage with middle managers
  8. Continue to engage with employees and stakeholders after the change

 

 

Choosing Your Next Service Provider

At West X Business Solutions, we factor Change Management into our consultative approach based on your operational needs and future goals.

 

Call us today (604.689.5554) to learn more about how to make your business more efficient.

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