The challenge facing management in all financial institutions is to maintain or improve their relative position in the changing environment. Internal change is likely to be necessary and this change will tend to be ongoing and multidimensional. This will involve changes in many parts of the organisation and require management to learn the skills necessary to manage change and have the information available to support the implementation of the change.
Responding to the need for change frequently requires cross functional initiatives in more than one organisational dimension. In order to manage the change effectively, it is important to harness the strengths and competencies within the organisation and segment the changes required into manageable pieces.
As change can rarely be instantaneous, the number of changes that can be implemented in an organisation at one time must be limited to those that can be managed at reasonable risk.
Change management is the effective management of a business change such that executive leaders, managers and front line employees work in concert to successfully implement the needed process, technology or organizational changes.
The goal of change management is to implement these business changes quickly to:
- minimise the impact on productivity
- avoid unnecessary turnover or loss of valued employees
- eliminate any adverse impact on your customers
- achieve the desired business outcomes as soon as possible
We can help you to plan, manage and implement change programs but you must invest sufficient time and senior resource to make it happen.