The Stats - Turnover & its staggering costs:
•Employees with the highest level of commitment perform 20% better and are 87% less likely to want to leave the organization (Corporate Leadership Council, 2004).
•Companies that communicate most effectively are 50% more likely to report turnover levels below the industry average compared with only 33% for the least effective communicators (Watson Wyatt, 2003).
•18% of the variation in sickness and absence rates across the company was due to variations in communication practices (Brown, Duncan & MacDonald, 2003)
Change Management / Organizational Change Initiatives
This study shows that uncertainty is even more stressful than knowing something bad is definitely going to happen. But you can learn to live with it.
· Lewis, Marc. (2016 April 4). Why we’re hardwired to hate uncertainty. The Guardian. Retrieved from: https://www.theguardian.com/commentisfree/2016/apr/04/uncertainty-stressful-research-neuroscience
The neuroscience behind why it’s so hard to give up what we have in exchange for something that seems better. The ‘sunk cost effect’ describes the way we resist abandoning a course of action, even though it’s not serving us anymore, because we’ve invested so much in it. Also, losses hurt twice as much as gain feels good…
· Copeland, Libby (2016 August 22). Why are we afraid of change? How fear of loss holds us back. Unstuck.com. Retrieved from: https://www.unstuck.com/advice/fear-change-loss/
Rapid culture change versus constant culture change? Rapidly reinventing their culture to deal with speed — might be a problem in itself. Chris Mark, Principal Consultant at SY Partners explains: “The key is not so much rapid culture change, as it is rapid prototyping to enable an agile approach to change—and therefore an agile culture.” For example, instead of calling an all-hands meeting to declare a new set of behaviors that will help the organization move faster, leaders should look for specific areas within teams or workflows to try out new behaviors and see what works. Or, consider what’s working in one part of the organization that might be valuable to another?
· SYPartners (n.d.) What tradeoffs are CEOs making this year. SYPartners.com. Retrieved from: https://medium.com/posted-by-sypartners/what-tradeoffs-are-ceos-making-this-year-df67d6ac9b5b?mc_cid=5a134c00a9&mc_eid=480fb7fe65
Change Leaders who become Change Warriors must learn to create conversational space for change, and reduce fears and threats. They help people find their place in the change process and look for how they can positively impact the future, enabling everyone to join together to shape the future.
· Glaser, J.E. (2013 July 25) Change Management- 4 Factors that Distinguish Successes from Failures. Huffington Post. Retrieved from: http://www.huffingtonpost.com/judith-e-glaser/change-management-4-facto_b_5179944.html
Contact Dr. Andrea, to learn how to increase the following into your organization:
Take a moment in reflection…
Most often it’s not that our team is unskilled, uneducated or lacks knowledge, it’s typically that we cannot get along! Yet, icebreaking or team building exercises haven’t seemed to work. Employees must learn how brain and body chemicals work for and against them, as well as when to trust those internal chemical and electrical impulses, and when and how to override them. Imagine if you could be freed up of the energy you expend intervening in relationship squabbles?