Want a competitive edge? The key is all about the way a company manages change, according to i4cp’s report “Building a Change-Ready Organization: Critical Human Capital Issues 2013”. You can download a copy of the full report here.
Change is a critical differentiator in today’s business world. Being able to recognize the need for change and incorporate necessary changes helps both individuals and organizations stay on top of their game. In the i4cp report, they mention two competencies for managing change effectively:
Preparedness is being able to anticipate and take advantage of change. Many people are able to see change coming. It’s about leveraging the opportunity.
Agility is defined as the ability to move quickly and decisively.
If change were a formula, it would look something like this:
Once a company knows that change is necessary, it comes down to how they spend their time. Does it wait for change to arrive and gripe the entire time about how it’s going to wreck their business? Or is the time spent putting a plan in place to potentially mitigate any losses and possibly benefit from the change? Because if your competitive set is busy grousing then it only makes good business sense to set yourself apart by embracing the change.
One way a company can really benefit is when their employees are capable of being agile in preparing for change. That means having a well-defined and executed strategy where your employees are concerned. The i4cp report shares several indicators for evaluating your talent management strategy. Here are a couple things that caught my eye:
- Leadership development plays a huge role in high-performing workplaces, especially when management is held accountable for their performance.
- Goal setting and performance management has a clear purpose and is connected to organizational objectives.
It comes down to hiring the right people and giving them the tools to succeed. This includes communicating expectations, training where appropriate and developing individuals for future needs.
Want a competitive edge? Develop the best darn group of employees you can. They’ll make sure managing change is a no-brainer.