Tackle Six Stages of Change in Bank and Credit Union Leadership Training

Sean Galli
Tackle Six Stages of Change in Bank and Credit Union Leadership Training

Change. It sounds fun when David Bowie sings about it, doesn’t it? But for most people, it’s not fun at all. For most people, the word “change” means “run and hide.” According to Harvard Business Review, less than half (just 43% of your employees) will support change.

This reality is especially challenging for the leaders who must implement change despite resistance. Changes in the C-Suite, a new core, a new brand, a merger – you name it – all can fail without proper guidance. You must steer the change process. You must avoid letting people run and hide. Because change is useless unless everyone signs on and starts rowing in the same direction.

So, how do you do it? How do you lead through change?

Here are the six stages of change and how to deal with each one:

  • Loss – People will grieve over the status quo. They knew the status quo. It was a safety blanket, and any change you implement looks like a harsh, unknown wilderness. Leaders must make others feel safe. Clearly define the change’s scope and goals to cut down on exaggerations. Distinguish between valid fears and invalid fears to give people a realistic perspective on change.

  • Doubt – “Do these folks have any clue what they’re doing?” Your staff may ask that about you when big changes hit…and your word may not be enough to instill faith. It’s no wonder when only 42% of employees feel included in the change process. Provide evidence supporting your decision. Chisel away at doubt. Show the numbers and discussions that brought you here. You didn’t make changes on a whim, and the staff needs to know that.

  • Discomfort – This is the danger zone for your change leadership process. Succeed and people turn the corner. Fail and your change might fall apart. People are working on the change…and they feel frustrated or overwhelmed. Think about those rough processes implementing a new core or online banking system. The staff often chafes against it. Leaders must constantly reframe the discussion and reward perseverance. Promote positivity. Entertaining a negative mindset will doom the team.

  • Discovery – If you overcome discomfort, people start to warm up to the change. But how do you maintain momentum? Do you fully know how to wield the change’s power yet? First, do your research and grasp the effects of the change. Then, prove people’s hopes right by making sound decisions based on your reflection. A new CEO must make a good first impression in their communications. Training on a new core system should be easy to understand.

  • Understanding – You’re almost to the end…but team members still aren’t completely buying it. That’s because (like everyone else) their minds are always tuned in to WIIFM (What’s In It For Me) Radio. You must show them the benefits of the change rather than the features. Make the change a personal boon to your employees – they will swallow real benefits better than any corporate lingo about what’s new.

  • Integration – It’s done! At long last! The change process is over! But that doesn’t mean the work is done. Don’t fall into a refreshed “status quo forever” attitude. Change is a constant, so the more you integrate open-mindedness into your team, the better the next change process will go.

Have you had rougher change processes in the past? Soften the negative impact of change next time by training your leaders. Book a free consultation today to start the leadership training process.

Sean Galli
Marketing Coordinator
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