To thrive in the 21st century economy your business must be prepared to handle ambiguity, uncertainty and disruption
How your business spent time making money five years ago, or even two years ago, may not position it for prosperity today. Every day you are faced with change – globalisation, technology, economy, regulatory, climatic, competition, innovation, acquisitions, outsourcing, expansion, to name but a few. These all reshape your thinking and doing.
Some changes your business may welcome, like new technology that offers efficiency and diversification. While others, like new players entering your market and making their presence felt, may cause you fear and anxiety.
Like it or not, to stay competitive, your business must reshape and embrace new modes of thinking and doing. Easier said than done, I know. However, changing your business is difficult, but not changing can be fatal. If you want to exist into the future, your business must become good at embracing change.
Worldwide, there is growing recognition that business success is no longer just about productivity and profit. Focusing on productivity may work in the short-term, but if you want your business to become, or remain, a market-leader then you must focus on the state of your business’s adaptability.
Business adaptability is all about how well your business can change and adapt faster than your competitors. It also relates to the factors that keep your employees happy, engaged and able to adopt new ways of thinking and operating to keep up with the speed your business is changing.
When it comes to managing change, instead of telling people what to do, we need to inspire them to do it. Engaged, change-resilient workforces are significantly more productive and profitable, and have less staff turnover, less absenteeism and fewer safety incidents. Businesses that win in their industry have an ‘ignited’ workforce – clear on purpose, connected, and feeling fully alive in what they do and how they do it.
Unleashing enthusiasm and energy in your workforce brings about innovation and creativity. A person’s full potential is activated when they’re engaged – using both their head and their heart. Well-motivated people perform better and are more willing to create a successful, healthy business. So it stands to reason that improving your workforce’s engagement will boost their change-resilience. But it wont necessarily get you the desired outcome. Managing change well needs carefully planned and constructed activities that guide and support the right communication and behaviours. Managing change resistance, over-controlling managers, silo thinking, bottlenecks, process, bureaucracy with no help can be a recipe for disaster.
Make sure your investment in change doesn’t end up a big headache. Take action and contact Adaptus Consulting today for help.