Investment
Changes in business happen every day. They are introduced to increase profits, increase competitiveness and productivity. Today, these changes happen much more often than before, and those companies that do not detect them in time, risk their entire business. For this reason, it is necessary to invest in change management.
The human factor in change management is extremely important. First of all, a company needs an expert who will take care of changes through forecasting, analysing and creating an optimal change management strategy for a particular company. Companies have the option of hiring an external associate or new employee, but what would be best is to recruit an experienced employee for the position. An experienced, long-term employee knows the company, the people and the processes in it. An external associate or new employee will need significantly more time to first gain a basic knowledge of how a company operates, and only then can they begin to implement changes. In addition, they do not have the communication potential of an experienced employee who knows their co-workers and will more easily convey a message to them.
Investments should also be made in various trainings and programs for employees. For example, a company planning to implement a major organizational change or a change in a strategic direction should first organize workshops or team building gatherings for employees to strengthen team spirit and impart knowledge about adapting to change. In this way, the company does not risk internal stability.
Another important factor is customers. A change in the company’s visual identity, rebranding, a change in business rules, or the introduction of new industry services and products should be communicated to customers. This is possible through the organization of events where company representatives have the opportunity to present their novelties live to customers, which helps them to be more easily accepted by customers. Another effective way to attract clients to the base, but also to maintain the old base, is to invest in community projects. The company can support local entrepreneurs, financially support charity events, provide expert advice or offer scholarships. In this way, the sense of coherence of the company and the community in which it operates increases.
