When a company is teetering on the brink of ruin especially during an economic crisis like the one we are in now, most turn-around leaders revamp strategy, shift around staff, and root out inefficiencies, which they do effortlessly. Then they wait patiently for the payoff – only to suffer bitter disappointment as the expected improvements fail to materialize.
I thought to share some of the lessons I learnt while reading a book “On Change Management” one of HBR’s Top 10 Must Reads. I hope you find it useful during this gloomy period as CEOs and C-level executives takes some hard but necessary decisions to keep their businesses alive.
I learnt that the best change to implement, which stand the test of time is a change done through persuasion. How do we make such change stick you may wonder? It’s simply to conduct a four-stage persuasion campaign:
1. Prepare your organization’s cultural “soil” months before setting your turnaround plan in concrete – by convincing employees that your company can survive only through a radical change.
2. Present your plan – explaining in detail its purpose and expected impact
3. After executing the plan, manage employees’ emotions by acknowledging the pain of change – while keeping people focused on the hard work ahead.
4. As the turnaround starts generating results, reinforce desired behavioral changes to prevent backsliding
Using this four-part process, no doubt guarantee an improvement in your processes and create a culture of ownership among the employees, especially during this down period.
All in all, as business leaders delivering the right message to your team during their time of need, is pivotal to – be genuine, kind, and empathetic. When they need you, you are there for them and they will kindly return the favour. After all, we’re in this together.
Thanks for reading and remember to Stay Safe