The Price of Doing the Same Old Thing is Far Higher Than the Price of Change

When members of my team and I sat down recently with a longtime client it was an illuminating, exciting and stimulating meeting.

The most striking takeaway was how much the relationship had evolved over the last ten years based on a mutual appreciation of the necessity to embrace change. Although one training program, in particular, had already undergone various iterations we all agreed it required a  major revamp. Its target audience was the same level of leadership it had always been, but the skill sets those leaders needed to acquire had changed. 

Having kept pace with innovative approaches in training and development we knew exactly how to design and implement a “new and improved” course. Both sides left the meeting feeling energized and with a renewed commitment to provide the best training for their leaders. 

This kind of willingness to change is essential for any company to grow and it’s a major reason why we’ve been able to retain 95% of our clients for so many years.

One key thing I’ve discovered is that those change initiatives that go beyond the seeking of a financial return and serve a higher purpose have much higher success rates. It’s a discovery that’s corroborated by good research. EY Beacon Institute, for instance, found that purpose-driven companies are 2.5 times better at driving innovation and transformation than other companies. And Deloitte reports such enlightened companies have 30% higher levels of innovation and 40% better workforce retention than their competition.

Most people, however, are resistant to change. Research shows that 62% of workers are fearful of leaving their comfort zone—which is extremely unfortunate, especially at a time when the pace of change has increased. Gartner research tells us that in 2022 the number of planned enterprise changes for the average employee dramatically increased to ten—a fivefold increase from 2016. At the same time employees’ willingness to support change collapsed to 43% from 74%. They dubbed it “transformation deficit.”

Faced with such a large number of reticent employees how can you motivate them to embrace and implement change?

Give Them a Voice

Actively involve members of your organization in the decision-making process. The research indicates that 75% of companies use a top-down approach in which they try to get employees to buy into the goals they’ve set. But when employees are given a voice in the planning, the chances of success are increased by 15%. When employees’ opinions and ideas are valued they are more likely to be on board with the change initiatives.

Communicate Clearly

It’s essential to explain to the workforce why changes are being made and how it will benefit them individually as well as the company as a whole. Workers need to know the rationale behind change whether it’s something as overarching as a new corporate mission statement or specific procedures, whether it’s to take advantage of a technological advance or ward off the competition. And be sure to use every kind of communication tool at your disposal—make everything mobile-friendly, for instance.

Establish Priorities

Don’t overwhelm your teams with too many changes all at once. That’s a surefire way to turn them off and burn them out. Let them know which activities are more important than others and set realistic deadlines for them to meet. Microsoft research has shown that 81% of employees say it’s important managers help them prioritize their workload but only 31% say their managers have ever given clear one-on-one guidance. Make the change transformation a series of manageable steps rather than what might be seen as a major insurmountable challenge.

Promote Learning and Development

Create an organizational culture of continuous learning with an emphasis on the acquisition of new skills. When change is necessary employees will already have the agility and confidence to tackle any new undertaking thanks to the foundation you have provided through training programs, workshops, and mentoring.

Honesty and Transparency

The foundation for any kind of transformation depends on the development of a company culture in which employees trust leadership. In a PwC study, 72% of employees reported that culture helps successful change initiatives happen while another report found that 85% of employees listed authenticity as the #1 quality a manager can have. Employees will rally to the cause when they see that their leadership is both honest and transparent.

Sense of Pride

Navigating change and participating in a successful company transformation leads to the satisfaction of a job well done. It can nurture camaraderie and fulfillment which for many workers is even more meaningful than a paycheck. A sense of pride in one’s efforts—and in the company itself—improves employee retention.

Final Thoughts

You’ve heard the expression—the only constant is change. And it’s true. Which is why it’s critical to proactively take charge of change before change takes charge of you—or as Jack Welch put it, “Change before you have to.”

You should rush to change and not away from it. The risk of losing out is a lot higher if companies don’t raise their game and embrace change. I well remember an Oval Office address to the nation by former president Bill Clinton in which he promoted “creating the jobs of the future and training our people to fill them.” The quote that stands out from that speech: “The price of doing the same old thing is far higher than the price of change.”

Written by Jason Richmond.
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