If you’ve been making changes in your firm to keep up with accounting industry changes, you might learn a lesson from the study recently conducted by The Gallup Organization. The study was commissioned by Carlson Marketing Group (CMG), a world leader in relationship marketing.
CMG wanted to find the rate of occurrence for major organizational change and then look at what employers can do to help workers adjust to these changes. Many of the major changes the study targeted are prevalent among accounting firms including: mergers and acquisitions, downsizing, competition for scarce employee audiences, and increased competition in the marketplace.
The study found that companies undergoing these major changes could retain prized employee resources by implementing a change management strategy that utilizes “best practices.” Five strategies identified that helped employers halt the negative effects of organizational change were:
> Create an awareness of the impending change and tell employees “what this means to you is…”
> Encourage two-way conversation between management and employees
> Help managers develop the necessary skills to work with employees during change periods
> Provide measurement and feedback to managers and employees regarding their work assignments
> Reinforce and recognize employee accomplishments
Companies employing these “best practices” realized an increase in productivity (59%), employee morale (73%) and profitability (50%).