Change is inevitable in business, whether it’s adapting to new technology, restructuring operations, or implementing fresh strategies. However, research from Kotter International suggests that over 70% of business change initiatives fail. The key reason? A lack of employee engagement.
At CMK Accountants, we work with many businesses navigating change, from financial restructuring to digital transformations. Implementing change successfully requires a strategic approach. Using Kotter’s 8-Step Change Model, here’s how you can drive positive change in your business.
1. Get Your Team Onboard
The success of any change starts with buy-in from your team. It’s essential to communicate the reasons for the change and highlight the benefits early on.
What you can do:
- Start open discussions with staff to address concerns and answer questions.
- Explain the risks of not making the change.
- Engage key stakeholders, customers, or industry figures who support the change.
- Ensure at least 75% of management is committed to the change.
2. Form a Strong Coalition
Successful change isn’t just about leadership—it needs support across all levels of your business. Creating a “change coalition” with influential team members helps build momentum.
What you can do:
- Identify employees who influence others and bring them into the conversation.
- Involve people from different levels and departments.
- Build a culture of teamwork and commitment.
3. Create a Clear Vision
Change can feel overwhelming, but a strong vision helps guide your team. Your vision should be simple, compelling, and aligned with long-term business goals.
What you can do:
- Develop a clear, concise summary of what success looks like.
- Create a roadmap for achieving the vision.
- Ensure everyone involved understands their role in the transition.
4. Communicate the Vision
A change initiative can fail if the message gets lost in daily operations. Make sure your vision is front and centre in your business.
What you can do:
- Discuss the vision regularly in meetings.
- Embed the change into training, job descriptions, and performance reviews.
- Address concerns openly and honestly.
- Lead by example—employees look to leadership for guidance.
5. Remove Obstacles
Change often faces resistance, whether from outdated processes, skeptical employees, or conflicting business priorities. Identifying and eliminating these roadblocks is crucial.
What you can do:
- Review your business structure and systems to ensure they align with the vision.
- Recognise and reward employees who support the change.
- Hire or appoint change managers to oversee the process.
- Tackle resistance proactively rather than letting it slow progress.
6. Create Quick Wins
Big changes take time, but small, early successes can help maintain momentum and motivation.
What you can do:
- Set short-term goals that are achievable and measurable.
- Celebrate and reward progress.
- Choose initial projects that demonstrate success without large investments.
7. Build on the Change
Sustaining change requires continuous improvement. Keep refining your approach to ensure lasting impact.
What you can do:
- After each milestone, review what worked and what needs improvement.
- Set new goals to maintain progress.
- Bring in fresh perspectives to drive innovation.
8. Make Change Part of Your Culture
For change to stick, it needs to become a fundamental part of your business operations.
What you can do:
- Regularly share success stories and progress updates.
- Integrate new values into hiring, onboarding, and training.
- Recognise employees who drive and sustain change.
- Plan for leadership transitions to ensure continuity.
Final Thoughts
Change is challenging, but with the right strategy, it can lead to stronger, more resilient businesses. Whether you’re restructuring, adopting new systems, or navigating financial changes, CMK Accountants can help you manage the process effectively.
If your business is going through a transition and needs expert guidance, reach out to us today.