CHANGE LEADERSHIP

COMMUNICATION IS KEY

Conference rooms have been replaced by shared platforms driven by inconsistent wi-fi capabilities to connect us for team meetings. It’s not just how we convene that’s changed, it’s how we stay connected beyond the virtual meeting. The coffee room conversations and attendance at in-person industry conferences are gone for at least the short term, and yet information is arguably more important than ever. Decision makers need influencers within the organization to move change forward. Team members need to know why – why change, why now, and why should I care? Change leadership requires that these questions and more be answered quickly and with transparency. The need for speed in responding effectively during a crisis is critical and separates true change leaders from the rest of the leadership team. The steps taken by change leaders to build trust with team members, business partners and customers starts long before the crisis.

CHALLENGES, RISKS & OPPORTUNITIES

It’s a challenge to adapt to the new environment, where many more people are now working where they live, blurring the lines of work-life balance. We’re learning about the resilience of our team members and their ability to adapt quickly to working in a virtual environment. The speed with which organizations adjust to these changes helps identify opportunities for emerging change leaders and confirm the change leadership already in place. The ability of corporate leaders to recognize the need for change and quickly identify team members who can help them achieve it creates a strong competitive advantage.

Keyboard Child with Dog

WORK FROM HOME

Work from home has become work from anywhere as organizations recognize the need for flexibility to attract and keep top talent. The Great Resignation could be better described as the Great Exploration to explore what's next on the horizon driving increased population in sunbelt states, resort areas and small towns across the country. For real estate, prices have surged and inventory is scarce as days on market can be now measured in hours. Work-life balance for many is no longer aspirational, it's real. Can the real estate market meet this new need?

CHANGE LEADERSHIP IN A DIGITAL WORLD

The workplace and workforce are connected in an increasingly digital world that includes many touchpoints, connecting our business and personal lives in ways that were difficult to imagine just a few years ago. We live in a disruptive world, one that required a nearly immediate response to move from a traditional workplace to a virtual environment where we live that gives new meaning to the word “co-working.”

Change management cannot thrive without effective change leadership that is initiated in the corporate suite and conveys support for innovation at every level of the organization. It starts with the tone at the top of the organization There is a need for change leaders who are innovative and empowered to set the tone for change within an evolving workplace. Corporate leaders are faced with decision-making that must balance resource allocation for human capital, traditional business analytics and reporting systems that collide with the need to explore emerging technologies and predictive analytics. It’s also causing organizations to re-think their need to occupy space. A substantial percentage of the workforce remains reluctant to return to their offices, especially urban business centers and to use public transportation required to get there.


Data is fueling this need for change. Lots and lots of data. The focus shouldn’t be on the quantity of data, but rather what you do with the information you derive from it and how fast you can access it that enables your organization to adapt quickly to change.


The accelerated pace of advancing technologies, including artificial intelligence, machine learning and distributed digital ledgers provide opportunity to gain a competitive advantage and presents challenges in choosing how to use these technologies to achieve better outcomes. It requires an understanding of the data culture and the digital ecosystem to support it that exists within each organization. It’s about making investments in acquiring and building skills that didn’t exist just a few years ago.


A thriving digital ecosystem requires establishing effective data governance practices that employ data standards, data aggregation and integration using information from multiple sources, and addressing transparency and security issues.


It creates an environment that fosters collaboration among individuals and business units throughout the organization and harnesses technology to achieve better outcomes. Like an ecosystem in nature, a digital ecosystem sustains and supports growth that accesses and consumes data.

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