Subject category:
Human Resource Management / Organisational Behaviour
Published by:
International Institute for Management Development (IMD)
Version: 16.10.2023
Length: 7 pages
Data source: Generalised experience
Abstract
In today's turbulent business landscape, organizational change is imperative for survival and success. However, research reveals that 75% of transformations fall short of their objectives. The root causes of this failure are often human-centric, stemming from factors like fear of the unknown, loss of competence, identity, status, relationships, or purpose. To navigate these challenges, leaders should adopt seven fundamental change management principles. Clear communication, authentic engagement, fair processes, stakeholder support, training, rewiring the organization, and embodying the change are essential. Leaders play a pivotal role in addressing resistance and fostering a successful transformation. Understanding these barriers and principles is key to becoming an effective change leader.
About
Abstract
In today's turbulent business landscape, organizational change is imperative for survival and success. However, research reveals that 75% of transformations fall short of their objectives. The root causes of this failure are often human-centric, stemming from factors like fear of the unknown, loss of competence, identity, status, relationships, or purpose. To navigate these challenges, leaders should adopt seven fundamental change management principles. Clear communication, authentic engagement, fair processes, stakeholder support, training, rewiring the organization, and embodying the change are essential. Leaders play a pivotal role in addressing resistance and fostering a successful transformation. Understanding these barriers and principles is key to becoming an effective change leader.