MY JOB IS SHAKEN NOT STIRRED IN THE CHANGING MARKET
Change is the instant cure for failure, can I only wish this was true, in many instances change will not alter a company, in fact can cause more damage, you are always best to change when you are rising, if you can, you have the advantage in your court, for example Apple do this very well in the market place, with change it is easier to implement once on the decline change is no receipt for success.
Change can throw your company into a Crisis Spiral, it is not short term fix, change has to be constantly monitored and is a long-term strategy tool.
Change is happening at the fastest rate since the Industrial Revolution, now you will have three career changes in your lifetime. In London the job market people are changing jobs on average every two years, no job for life anymore. You need many adaptable skills in the job market, to be able to adapt to situations.
David Ulrich the great American academic I always recommend to my students with his chart, Who, Why, What and How, I ask students to draw-up a chart to look at change in their own lives from his chart, another alternative is to adapt the chart to a company to change it
Financial services is seeing radical change in the years from 2008 to now, change was around in the nineties in finance, I was involved in the merger of Lloyds TSB Bank. Lloyds was regarded as the thoroughbred bank, the Rolls-Royce of its world, when they decided to merge there was major problems, for six months customers of both banks could not pay their monies into either branch, owing to problems with IT, due to diligence had not been carried out in the best possible way, change has to be thought through very carefully
Employees have to be convinced of change, companies often don’t explain why there is change. Flexible working or a new bonus schemes, employees must feel comfortable or say a redundancy package. This most certainly applies to mergers.
Human Resources role is changing, taking on many new areas including European Law, Paternity and Maternity leave, new working initiatives and diversity issues, job roles are changing, who would of thought MI6 would advertise for staff, even James Bond is not safe from change, because we have become more global change has to adapt to cultural differences within an organisation, which is a fast moving market.
Women’s roles in the boardroom and politics are changing, with some countries enforcing quotas of women in the boardroom, example Norway.
Women in the world of politics from Angela Merkel of Germany, Christina Kercher Argentina, Christine Lagarde of the IMF and Julia Gilliard of Australia. We need more in senior roles.
There is a change blowing through the British boardrooms, with the following ladys making their presence known
Jane MacDonald of McDonalds, Easy Jets Carolyn McCall, Harriet Green of Thomas Cook and the American business lady. Angela Ahrendts of Burberry, all holding key posts. Human Resources needs a higher standing in the boardrooms, of Chairman or CEOs at the top Fortune 100 companies not one are from a Human Resources background. Human Resources need to raise its game to have more say in the boardroom, which influences change
James knight does lecture on Change at Masters level and worked on a number of change projects worldwide
Great opportunties for graduates in the change market
Viva change!! Great read James, thank you
Really nice James, thank you for this!
We need strong women, yes! Very good Read, and good advice re Ulrich!. Thank you.
Great piece James, well said.