Change management is a skill that few small business owners are born with. But it can be learned. By paying close attention to company fundamentals, you can not only react to company changes, but anticipate and proactively plan for them. Here are four critical issues related to business change and tips on how to address them.
The ultimate success of a change is often determined by how that change is communicated to employees. Keep people informed as to what’s happening. Take care in when and how you articulate the change.
In a merger or acquisition, entire cultures must be fused. Historically the most effective way to address company culture after a merger is to treat the freshly merged company as a new entity, taking care not to favor one company’s culture over the other company’s culture.
There’s no such thing as a perfectly smooth business change. Employees will have concerns. Two effective ways of addressing them:
In addition to raises and promotions, your superstars are positively affected by softer rewards such as: