Change management is one of the toughest hurdles you face as a leader because change often arrives unannounced. There’s no doubt that change management is a crucial test of your leadership skills. Drawn from decades of real-life experiences and case studies, we want to share some insights on managing change,
When Do You Need to Manage Change?
Here are some typical scenarios where change management becomes essential:
1. Market Slowdown: Your agents are grappling with fewer transactions than usual.
2. New Competitor: A new competitor with a different or more aggressive pay plan enters your market.
3. Competitor Closure: A same-brand competitor closes their doors.
4. Key Personnel Departure: A key person in your business leaves for another company.
5. Company Acquisition or Sale: You buy or sell a company.
6. Price Increase: You decide to increase your prices for your agents.
7. Negative Press: There’s negative press about you, your company, or the market in general.
8. Major Changes: You want to make significant changes in processes or staffing at your company.
Five-Step Formula for Managing Change:
1. Communicate Quickly: You need to get ahead of the message. In politics, this is called getting ahead of the news cycle. People will talk about the change, and you must decide whether you want to control the message or let someone else do it.
2. Ensure Clarity and Accuracy: Your message should be clear, concise, and factual. Facts are crucial. You can’t manage change if there’s a credibility issue or questions about your integrity. Be concise; too little information seems like you’re hiding something, while too much can be equally damaging.
3. Unified Messaging: Make sure all your staff are on the same page. Mixed messages create confusion, so ensure everyone is aligned and understands the key points.
4. Poll Key People: After communicating with your team, check in with key individuals to gauge their understanding and gather feedback. Your cheerleaders can provide invaluable insights on the next steps.
5. Include a Plan and Next Steps: When communicating, always provide a plan and clear next steps. Most people will follow you if you point them in the right direction. The biggest challenge in change management is often leaving people in the dark without guidance on what to do next.
Change management is a true test of your leadership. If you follow my five-step plan, your success is virtually guaranteed. If you still feel unsure or not confident in the way forward, call us. Leadership and change management are core competencies for us, and we are here to advise you.
Let’s tackle change together and lead with confidence!