The only constant thing in life is change. Entrepreneurs are aware of that, they know change is becoming part of their activities on a daily basis. There are three primary drivers for change:
- Change Or Die. We talk about competition, about changes in legal aspects and requirements. The change is a must in that case. We should either comply to new regulations or shut down. We must jump to the next level of quality or efficiency or our inevitable decline in market share would free up space for the competitors.
- Change to Grow. This is the natural desire to expand, improve performance, increase customer base.
- Change is Good. A matter of attitude. An approach relying on that statement will always make us search better solutions and stay up to date.
The failure rate of change initiatives could be as high as 70 percent. How can we deal with changes and implement them successfully? Read on the five tips:
- Treat your Employees as Partners. A leader needs to build trust and good relations with company members. There should be two-way communication. Encourage employees to ask questions, share opinions and feel comfortable about it.
- Employees are People. The accent on relationships will build confidence in your employees. Knowing your stuff and addressing them personally would help the company to face constant changes.
- Participants, not just staff. Getting your staff involved in what the company does is the way to really engage them and be successful. A person who is engaged feels accountable and motivated. The participants in a project have their unique value and input, they are not simply staff that implements someone else’s ideas.
- Security vs Safety. Company leaders must feel secure about their identity and position. To be proactive in an ever-changing environment, the employees must be risk-tolerant, not defensive, and patient under pressure. All the aforementioned requires a high degree of self-confidence.
- Competencies vs Reaction to Changes. The changes you are embracing must be based on new competences. The leaders and managers need to expand and develop the new skill-set needed for the change. A new definition for the job-specific competences is needed as well.