Many firms are operating under ‘survive or thrive’ conditions and are looking to make large scale changes – but too many are forgetting their most important transition tool – their people. David Jarrett reports.
Economic challenges have forced many financial services firms to undertake radical and deep reaching changes in recent months to stay afloat, but during the course of these changes there is one key factor that’s consistently forgotten. Changing the way people within the organisation think and behave is often put in the ‘too difficult’ box – but it’s also the very thing that will directly impact the success of any structural change.
Change projects usually start with presenting graphs and numbers that rationalise the need for change. The other - perhaps most challenging half – is implementing this new way of working without your best people leaving, morale crashing, performance falling through the floor and dissatisfaction erupting among your clients.