Managing Through a Time of Rapid Change

When I look back to the start of my career with CUNA Mutual Group 12 years ago, the rate of change has grown faster with each passing year. Within the last ten years, the way we access information and live our everyday lives has shifted dramatically. Social media has amassed an active user audience of 2.7 billion (for perspective, that’s more than one-third of the world’s population), autonomous vehicles are being tested more frequently and emerging companies are threatening traditional business practices by digitizing their services.

In the ever-expanding layers of change, economic complexity and technological advances, leaders will face difficult decisions to help ensure their companies stay relevant in the minds of employees and consumers – and they must adapt quickly. Employees want more flexibility to balance their lives between home and work. Economic factors have forced companies to evolve business models and customer expectations are rising as new competitors emerge.

Here are a few thoughts that have helped me manage our organization through times of change.

• Set the expectation that change is inevitable. It’s human nature to fear change. But the bottom line is that, for any company to succeed, it must adapt and innovate. Employees must believe that change is a matter of course for any dynamic and evolving organization. I’ve seen successful leaders set this expectation early and often.
• Consider the future needs of your employees and your company. Let your vision of your organization drive business decisions. As a leader, you are focused on what is best for your employees, your company and your customers. Don’t lose sight of your mission.
• Focus on your top priorities. After considering the future needs of your company, focus on the top priorities that will benefit your customers and employees. Empower employees to make trade-offs to help ensure their top priorities align with your company’s strategy.
• Consider new technology. Companies that lean into disruption will be the best equipped to manage through change. In other words, turn your threats into strengths by investing in or even creating new technology. Pair your more traditional practices with emerging ones. This helps to create a diverse view of your organization that interrupts conventional thinking and protects against blind spots built up from years of repetitive processes and norms.
• Be honest and empathetic with your employees. If your company is undergoing change, be open and honest with your staff about why it’s happening and what they can expect. Offer an open-door policy that encourages employees to ask questions, share their experiences and offer suggestions. The best ideas come from the edges of the organization. Create the type of authentic discussion that promotes breakthrough ideas. Involve as many as possible in the process so that change comes from within the business and not necessarily just from the top down.

Every company is influenced by a myriad of external factors. Unavoidable challenges can threaten your business strategy; but, they also present opportunity. You can use them to your advantage – to help you innovate, grow and succeed. While the shift in resources that comes with change can strain your organization and employees, your path through it can create a stronger, more robust and resilient business for the long term.

So, understand that change is inevitable -- and embrace it. Stay focused on the future you envision for your company; and, more importantly, for your employees and customers.