Coaching to Success

Our business is your success

Strategy

How to manage stress when change is imminent?

Change can cause Stress. Stress can lead to a big bag of trouble. So what can we do about either or both?

When I left the security of a position with added benefits… you know, a decent wage, car, pension etc, I embraced change but didn’t realise how stress would impact on me as a result of this!

I welcomed change but for it can bring about frustration (“there goes that opportunity of promotion!”), resentment, fear (“will I lose my job?”) and feelings of unfairness (“great, more work!”) due to the fact the ‘change’ was enforced.

The consequent outcome often leads to stress. If we’re not working to our full potential, productivity declines, followed by diminishing profits. This then usually means cut-backs and here we go again! And this is just from an accountant’s perspective. What about the morale in the workforce or the sickness absence record?

It’s no surprise that most will attempt to reject change. After all, it’s the fear of losing something, resisting because we simply don’t want it while not knowing how to deal with it!

Therein starts the belief that if we resist it enough, it will simply go away. Alas, this rarely happens. So begins the transition curve of change which follows a path of Shock – Denial – Sense of incompetence – Acceptance – Experimentation – Understanding – Integration. The first is where management is the most critical.

Some key questions to help us understand/be understood, thereby giving the information that will relieve the development of stress include:

  • What fear will be raised?
  • What internal/external culture will feed this fear?
  • Are people afraid to raise their fears/concerns?
  • How will this fear affect the business through its service or delivery?
  • What will be the outcome if people can’t raise their concerns?

As a leader, these questions need to be asked. Having a clearly defined plan concerning how the change is to be communicated, and I don’t mean just ping everyone an email!, to incorporate the aforementioned answering what you foresee as being primary areas of concern, will help people to understand that change is not to be feared but embraced due to its benefits to them!

‘Communication’ is critical in reducing stress. Once you’ve established answers to the earlier questions, you can incorporate this into your announcements.

Clear, concise and accurate information relaying what are the perceived likely fears and how this will be addressed, the timeframe, people’s responsibilities and buddying systems all aimed with the intention of expressing the purpose, benefits and need of the business that they will engage in. This will all give the individuals a sense of understanding and, more importantly, a sense of purpose that they are critical to the success of this change.

This information assists effective change-management, stabilising the environment without allowing assumptions that may well poison a tranquil working atmosphere!

Without clear communication, people will feel threatened. Look to endorse some of the following to assist with a ‘reduced’ stressful environment (we don’t like change so there will always be an element of stress, let’s just try and bring it to a minimum so all can enjoy the workplace):

  • Provide assistance. Not everyone will pick up change at the same speed
  • Offer a variety of support not just technical but coaching, counselling, leadership and interpersonal skill training
  • Be aware of how you communicate this change. Electronic formats such as email should be used to back-up or enhance face-to-face meetings/seminars.
  • Frequently relay updates emphasising the positives and commenting on areas that need improving
  • Consider holistic means to alleviate stress such as providing training on relaxation techniques, nutrition, self-awareness, time-management and confidence/self-awareness development.

Stress affects us all differently. As an outgoing person, my signal is when I go quiet, hiding myself away! Other signs people show are loss of focus or attention, fatigue, tension of muscles and work may be affected through shortcuts being taken or lack of accuracy/focus. Know your own signs as well as those around you.

Without considering the human element of change, all too often I have seen change take much longer than anticipated as no one has considered the fact it is people we are dealing with and not machines!

Coaching to success specialise in change-management offering workshops for teams or management teams that will either be subjected to change or are about to introduce it. Should this be an area that you believe will help your organisation, contact Neil directly on 07761 187238 or email neil.nutburn@coachingtosuccess.co.uk to have a complementary and confidential discussion
or meeting to see how we can help you manage change effectively and efficiently thus reducing costs through engaging the team quicker and more productively through reducing the possibility of stress and the negatives that can bring.

To Analyse is to Strategies! Move forward by finding out what are the others up to

It amazes me how disorganised some companies are, yet they still manage to keep their head above water. Those that engage with a mentor, business coach or such like then gain clarity of direction and whatever the set benchmark, production/sales/profits improve exponentially.

Fighting the internal battle is only the first step … Next you have to worry about what the competitors are up to, especially the ones that have the edge on you! Who knows, they may well use a strategy tool created by Michael Porter known as ‘Porter’s Four Corner Model’.

A leading authority on company strategy, Michael Porter is the Bishop William Lawrence University Professor at Harvard Business School (highest professional recognition that can be awarded to a Harvard faculty member). His model is a framework to look at what’s going on behind competitor’s doors, the strategy they are likely to adopt and key factors that will probably influence their decision making:

To begin, consider a 2×2 matrix. Top left is ‘Corner 1: Drivers’ (Motivation), Bottom left ‘Corner 2: Assumptions’ (Motivation), Bottom right ‘Corner 3: Strategy’ (Actions) and Top right ‘Corner 4: Capabilities’ (Actions).

DRIVERS: These are what Motivate your competition. Areas such as what drives them forward? What are their values? And really, what makes them tick? Understand what ‘motivates’ them and you can start to see where the energy lies.

Including Financial goals, Business philosophy or Leadership background.

ASSUMPTIONS: This isn’t your assumptions, this is their Belief about themselves! Look at how they perceive their competition (including you). What assumptions do they make and how do they perceive themselves compared to others within your business arena. How do they assess their own strengths and weaknesses against their rivals? Do they become defensive or aggressive in their approach, are they pro-active or reactive? Consider company’s perception of its strengths & weaknesses, Belief about competitor’s goals or Organisational value.

STRATEGY: This is all about how they compete in the marketplace! There could be a difference between what is their ‘realised’ strategy and the ‘intended’ one as laid down in their annual reports. Now this is where it’s important to see if this occurs and with some research, can be found. If their strategy appears to be yielding a good return, then it is safe to say they will continue doing what they do best, nonetheless, is it still abiding by its intended strategy and could further improvements be met? Look at how they create value, established relationships or where investment is made.

CAPABILITIES: Here you assess how the competition acts! It may well have the motivation/drive to initiate a strategic plan but the question is are they ‘capable’ of seeing it through? How will they react when your market share or another group’s start to grow? Will they simply start to slash prices or do they take a different approach of aggressive marketing campaigns? Taking from the SWOT analogy, what are their strengths and weaknesses? Look at training, financial strengths, marketing skills and Leadership qualities of senior management.

With this information set in your armoury, you can now analyse this framework to plot both the ‘Offensive’ and ‘Defensive’ scenarios of your competition. Carry out the same exercise internally and see the areas of difference emerge and then formulate a plan based on actual data rather than guess work!

Coaching to success help organisations, such as yours, to plan ahead and then create staged plans to achieve organisational objectives that will be met. This is in part, due to the motivation offered while the sense of ownership being established through being held responsible to someone else! The first thing to do is contact Neil directly on 07761 187238 or email neil.nutburn@coachingtosuccess.co.uk to have a complementary and confidential discussion or meeting to see how we can help you grew your business through market and, more specifically, competitor awareness and strategy planning.