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Navigating Change River
...Together
Lois Raats MEd CCC BCC
Founder & Principal Consultant Ready2Grow Associates
ready2grow.com
Lois Raats MEd CCC BCCFounder & Principal ConsultantReady2Grow Associates
• Strategic Planning• Change Leadership• Business Development• 25+ years’ experience across all sectors & industries
• Email: [email protected]• Twitter: @ready2growlois
ready2grow.com
Today We’ll Explore:
• Changes, challenges and opportunities in the mutual insurance industry.
• Issues that emerge from these shifts.• How change leaders can address issues and
embrace the future.• How to build a company and an industry
culture that supports growth.
ready2grow.com
ready2grow.com
#1. “What’s happening?”
• Notice the shift.• “Deer in the headlights”.• Don’t know what to do.• Keep doing what I’ve always done - harder!• Do it myself.
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#2. Stop. Consider.
• What I’m doing isn’t working!• Stop doing it. • Do something different.• What are my options?
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Initial Response
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Less Helpful More HelpfulAnxious ChallengedAfraid Excited
Overwhelmed EnergizedFrustrated Adaptable
Resist change Embrace change
#3. Reach out.
• “Dan! We’re gonna crash! • We need to do something different!• What should we do?”
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#4. Inner Shift.
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Inner Shift
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Less Helpful More HelpfulAnxious ChallengedAfraid Excited
Overwhelmed EnergizedFrustrated Adaptable
Resist change Embrace change
#5. Lead Change.
• Lead.• Sometimes follow.• Collaborate.• Communicate!• Solve problems together.
ready2grow.com
1. “What’s happening?”CHALLENGES
• Competitive environment colliding with collaborative identity.
• Enforced rapid change vs. organic change.• Gov’t intervention impacting revenue models.• Expensive but necessary technology.• Aging leadership.• Younger clients and employees.• Consolidations & mergers.
ready2grow.com
2. Stop and Consider.Challenge: ValuesIssue: Our landscape has changed irrevocably. What values remain key to our identity? • Individual, company, industry• Collaboration. Competition. Others.Important: Reduce anxiety. Deepen the dialogue.
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Stop and Consider.Challenge: Innovation
Issues: • How can we focus more attention on R&D both as individual companies and as an industry?• What projects would we enjoy collaborating on as an industry?• What collaborative projects will help to re-energize our industry /company brand?
ready2grow.com
Stop and Consider.Challenge: ConsolidationIssue: 1. Who is best equipped to survive?2. What are the best solutions – for the
industry, brokers, clients?3. While individually established, merged
companies face many of the same challenges as start-ups: brand, business model, team roles, markets, and so on.
ready2grow.com
Stop and Consider.Challenge: Talent Issue: How can we become more attractive to younger players?• Compelling industry brand• Compelling company brand• Compelling, engaging communications that
help to attract and retain talent
ready2grow.com
AIESEC LAURIER #YGenY - May 1
ready2grow.com
GenY: “We are…”
• Independent-minded• Value individual differences• Self-focused• Presented-oriented• Connected• Hungry to learn and develop• Want to make a difference
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GenY: “We what to work for a company with…”
• Strong connections• “Triple bottom line”: profit, people, planet• Digitally connected• Learning organization• Small teams• Close to home (i.e. mutual insurance industry?…)
ready2grow.com
GenY: “We want our leaders to be…”
• Authentic / relatable• Independent thinker• Visionary / inspiring• Goal-oriented• Clear communicator• Collaborative team leader
ready2grow.com
Stop and Consider.OPPORTUNITIES
• Celebrate history, tradition, values• Reimagine future vision• Renew industry and overall culture• Collaborate across the industry• Innovate across the industry• Engage the next generation
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Stop and Consider. What is required?
Change Leadership “Inside out, bottom up”
• Individual
• Company
• Industry
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3. Reach out.Become a Culture-Builder.
Lessons from CEOs:• Strengthen strengths.• Lead from core identity: values, purpose,
mission, and vision.• Reinforce desired behaviours.• Seek input from all stakeholders.• Create a shared story.• Communicate continually to deepen community.
ready2grow.com
Why Culture Change is Difficult.
1. Culture is invisible.2. Culture is not easily measured.3. The forces that shape it are poorly understood.4. Culture is shaped through conversations.5. Conversations carry emotions and are shaped
by beliefs.6. People would rather avoid these conversations
because they are often not comfortable.
ready2grow.com
Special Culture Challenges of Consolidation
“Cut and Paste” Symptoms:• Games: Us-Them, Winner-Loser, Persecutor-Victim,
Big Fish-Small Fish mentalities• Feelings – anxiety, grief, loss. “Will I lose my job?
How will my job change? Will I like the new people? Do I have to relocate? Will I like my new boss?” etc. etc.
• “Acting out” behaviour. Protectionism, silos, “presentee-ism”, powerlessness - passive-aggressive behaviour
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Leading Culture Change during Industry Changes / Consolidations• Acknowledge natural emotional reactions to change.• Review and renew Values.• Reshape a compelling Vision that inspires action.• Clarify and renew Purpose and Mission.• Rebuild teams.• Build buy-in and alignment with new vision through
culture.• Motivate and reward new behaviour.• Attract & retain the right talent.
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Energy System:
ROOTS &
FRUITS
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MISSION
PURPOSE
VALUES
Marketing
Customer Care
Sales
Team & Network
Finances
CULTURE
VISIONTech & Data
StrategyCultureInnovationLeader Skills
ECOSYSTEM
• Visible values, purpose, mission.• Walk the talk.• Set culture as an agenda item in every
meeting. e.g. Choose one value statement. Ask them what it means, and when it’s been in play this week.
• Collect and tell stories that reflect our values and purpose.
Ways to Communicate Culture Internally
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• Create a suggestion box.• Post answers to suggestions and encourage
responses.• Seek “Caught you doing right” feedback –
offer praise.• Use social media to communicate values,
purpose, and vision with your staff.
Ways to Communicate Culture Internally cont’d
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Future goal
Present realityready2grow.com
Culture Shifts
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FREEDOM
CONTROL
INTERNAL FOCUS
EXTERNAL FOCUS
CLANValues
RelationshipsFamily Businesses
Professional Services
Values
InnovationHigh Tech
HIERARCHYValues
StabilityTraditional
Mfg. / Insurance
MARKETValues
EfficiencyProgressive Mfg.
ADHOCRACYEarlier Stage
Later Stage
3. Reach Out.Core Characteristics of a Culture that Supports Growth
• Engagement• Alignment• Learning• Shared Leadership
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Engaged Employees…
• Work for more than just money.
• PASSIONATE – Care about their work.
• COMPETENT – Do things well.
• LEADERS – Take ownership for the outcome.
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Aligned Employees…
• Understand the core vision, values, purpose and mission of the organization.
• Apply the above on a daily basis according to the guiding principles.
• Solve problems in an agile fashion: given freedom to decide, fail, and learn.
ready2grow.com
Learning Employees
Are encouraged to be:• Curious• Innovative• Learn from mistakes• Build team synergy
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Shared Leadership
The best practice for teams is shared leadership.Leaders:• Are self-directed.• Take responsibility and get the job done,
whatever it takes.• Have clear boundaries.• Think strategically, not just tactically.
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#4. Inner Shift Required.
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Energy…high or
low?
4. Inner Shift
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4. Inner Shift Which paradigm?
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Less Helpful More HelpfulAnxious ChallengedAfraid Excited
Overwhelmed EnergizedFrustrated Adaptable
Resist change Embrace change
ready2grow.com
5. Equipped to Lead Change
• Clear understanding of the challenges.• Renewed values, purpose, and mission.• An inspiring and worthwhile vision.• An engaged, aligned, and self-directed team. • A supportive ecosystem of industry
associations and partners who foster growth.• So that you are fully equipped to embrace the
future with hope and confidence.
ready2grow.com
Today we have taken time to…
• Notice what’s up: Changes, challenges, and opportunities.
• Stop and consider. What are the issues?
• Seek input together. How can we work together to resolve them?
• Shift and enjoy the ride.• Say a hearty YES! to change.
ready2grow.com
Thank You!
I look forward to connectingwith you on LinkedIn and Twitter @ready2growlois
ready2grow.com