The Weekly Ledger No. 69: Managing Change

September 29, 2022 Lydia Adams

managing change image background

Welcome to The Ledger where we sum up the latest finance and accounting news for you. This week, we've rounded up everything finance leaders need to know about managing change. Read on for best practices and winning strategies for seamless change management. From how to deal with resistance to change and what approach to use to the hard truths of change management, you'll find it all in today's entry.

The Weekly Ledger managing change

Overcoming Internal And External Resistance To Organizational Change

As we all know, the only constant is change. But that doesn’t make it easier for your employees to deal with. Change brings uncertainty and anxiety – and with it, stress (and resistance). Follow these top tips to manage change and get ahead of resistance before it strikes:

  1. Understand and Identify Resistance Issues - Resistance to change is human nature. As a leader, the best thing to do is think about where that feeling is coming from and address it head-on. Understand that often people may not resist the change itself but rather, what it represents and how it affects other factors.
  2. Be Prepared - Know that you’ll have to address this resistance to effectively manage change in an organization. Leaders must make any needed adjustments and continue to follow up with their team regarding their concerns. Get inside their perspective to address what needs to be said.
  3. Acknowledge Risks & Challenges - Think about the worst-case scenario. While this will probably not happen, having a contingency plan is the best policy and will help you stay prepared.

The bottom line? Listening is key. Understanding, empathy and preparedness will come a long way when managing change. Read the full article on Fobes.com.

Change Management Tools: What’s Best for Managing Change?

When it comes to change management, there are a ton of tools out there to help you succeed. In this article, the author compares various change management approaches including Kotter and ADKAR. But which approach to choose is based largely on what you’re trying to achieve.

“Ultimately, I think that the answer to “ADKAR or Kotter?” lies in what you’re trying to change. If you want to start by focusing on getting individuals motivated and engaged, start with ADKAR. Or, better yet, incorporate that into the Kotter model, when or as needed,” Annette Franz said.

The most important part though is to choose an approach and stick with it. Need a refresher on the Kotter and ADKAR methods? Read the full article on CMSWire.com.

10 hard truths of change management

The theme of the last few years has been change. Continuous disruption requires a constant eye and a serious shift in mindset, especially for organizations in transition.

According to CIO, low-performance organizations are 3.5 times more likely to view change as a negative thing – even a threat. So how do you overcome these sentiments and manage change? Here is where the hard truths come in.

Change involves loss, it's all about people and you can change if you don’t care who gets the credit. These are just three of the 10 hard truths about change management, but one stands out most of all: Change never ends.

To read all 10 hard truths about change, head over to CIO.com.

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