We've recently invested a lot of time talking about returns on change management investment. Despite the strengthening of change management as a profession and an increased understanding of what it can deliver, many change practitioners find it challenging to get support for change resources, budget and tools in their organisations. Fortunately, ongoing research continues to show change management's clear value in many key areas. In this week's Saturday Catch-up we revise five past blogs that demonstrate the return on change management investment.
On March 13 2024 we published Is Change Management the natural enemy of Financial Planning? In this post we opened the topic of marrying change management outcomes with financial outcomes. We found that in essence, financial planning and change management are intertwined threads in the fabric of personal growth and business evolution. By bringing together practical, tangible plans for change with planning the financial future, organisations plan to create and achieve lasting success.
Assessing the Financials: The ROI of Change Management went on further to break down the Return on Investment indicator and explain how change management contributes to positive initiative, project or program ROI. We learned that if an organisation can not communicate changes effectively to its workforce, then it will achieve zero project benefits without change management. Published 17 July 2024.
Earlier this week, The Case for Change Management presented strong statistical and case evidence from organisations such as EY, the University of Oxford and Prosci that strongly demonstrated the tangible value of change management. Like taking out insurance, or putting oil in the car, change management is an investment that protects the organisation's outcomes by focussing on adoption from the early stages. Without change management, the evidence is clear that organisations will not see the level of adoption they're looking for in the time horizon they initially planned.
Change management ensures smoother transitions, engaged people and better outcomes. It's essential for individuals and organisations because it guides how we prepare, equip, and support people to successfully adopt changes. When you don’t have effective change management, it can lead to significant costs and risks. In this post from June 16 2024 we break them down. The Cost of Not Hiring a Change Manager
Reinventing Change: Case Studies in Transformation also from this week, reviewed the examples of Amazon, Netflix and Microsoft. These are three companies that created (or resurrected) enormous potential from seemingly risky market positions. These case studies show how strategic pivots and a willingness to embrace change can transform market shifts and external threats to sustained success and industry leadership.
Now you're fully invested in this Saturday Catch-Up: Return on your Change Management Investment
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Please enjoy your Saturday catch-up.
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