An organization’s ability to successfully manage change has become critical to maintaining a competitive edge in an era of rapid technological advancement and increasing global competition. A recent report on the frequency of change in the workplace suggests that as many as 375 million workers worldwide will face significant changes in their workplaces by 2030. Change – be it structural, strategic, or technical – comes with a myriad of challenges, ranging from ineffective communication and competing resource requirements to lack of buy-in and resistance among employees. A failure to plan for these challenges has led to a reported 70% failure rate in attempted organizational change over the past several years.
Change requires active planning and hands-on management before, during, and after implementation that focuses on building a long-term company culture of learning and innovation. Successful change in the workplace demands more than designing processes and handing them down to employees; instead, an organization’s aptitude for change is rooted in how well it is able identify and effectively mobilize agents of change and key stakeholders internally, mitigate risks and resistance, and continuously monitor performance.
Change Management shifts the concept of change away from a one-time, top-down order towards a collaborative process with lasting effects on company culture and an organization’s ability to seize new opportunities for growth and innovation. An effective and comprehensive Change Management strategy is vital for companies looking to not only keep pace with the innovation curve, but to become leaders of the curve through flexibility, communication, and adaptability.
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