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Top Contributors to Organizational Development and Change

THE TOP CONTRIBUTORS to ORGANIZATIONAL DEVELOPMENT & CHANGE It's no longer enough for a company to be good at what it does – in a quickly evolving marketplace, organizations must be capable of rapid change, all the while adhering to stricter ethical business practices at the demand of a more informed consumer base. But change requires strong and strategic leadership. Here are the top skills today's leaders need. Companies Are Ready for Development & Growth #1 priority among corporations in 2013: Growth 53% of organizations rank it as most important #2 priority: Cost reduction 3) #3 priority: Innovation 40% 34% Top ethics and compliance program goals among companies in 2013: 166% 66% |61% Improving alignment between daily operations and core values Helping employees feel more comfortable sharing their thoughts Improving ethical leadership Leadership Skill #1: Lead the Way in Ethics Initiatives The most successful companies are well-acquainted with the ethical issues of their time. 80% of top-quintile companies aim to adapt ethics and compliance to changing business needs Only 36% of bottom-quintile companies have the same goal 79%. celebrate ethical leadership of top-quintile companies recognize and Only do the same 16% of bottom-quintile companies Top 3 benefits of promoting an ethical business culture: 80% 71% 67% Long-term business performance and value Compliance with regulations Employee commitment to values and mission Leadership Skill #2: Use Your Power Wisely You don't have to be a top-level executive to be a leader. 94% of leaders say they're moderately to extremely powerful at their jobs But power doesn't always come from position ... 6 in 10 leaders say their company empowers employees at every level Top 3 sources of power: Expertise Information Relationships In fact, formal authority isn't always the best way to empower leaders ... 28% leaders say more formal 4 in 10 authority would help them feel more powerful Yet of leaders worry that top leaders at their companies misuse power Leadership Skill #3: Manage Crisis Effectively Growing pains are natural with all forms of change. Good leaders can roll with the punches. 2 most in-demand capabilities needed for managing companies through the recent economic crisis, according to a survey released in 2009: LEADERSHIP & DIRECTION During periods of change, employees are open to new ideas from their leadership, as long as leaders provide positive support Top 3 most inmportant behaviors in corporate management: Defining expectations + offering rewards Challenging assumptions + encouraging risk Inspiring 25.6%. furhermore, 2 in 3 Yet communication is ranked the #1 leadership is reluctant to share updates with employees during crises most important leadership characteristic during times of flux employees say financial performance and company culture are directly linked Leadership Skill #4: Cultivate a Culture of Change A strong leader provides incentive for change, which can often be difficult. About /0% of change initiatives at businesses fail #1 stumbling block for most change programs: Employee attitudes and management behavior, especially irrational behavior HOW TO CULTIVATE SUCCESSFUL CHANGE PROGRAMS: Recognize that O0% of your workforce's motivators are different than Listen to employee input. Involvement motivates their your own. commitment to change. Personally thank and/or reward employees difference. Don't be afraid to link compensation with expectations. - it makes a big Provide opportunities for employees to practice what they've learned. 10% Retention 3 months after lecture-based training 65% - Retention after employees learn by doing Almost 100% Retention after employees practice what they've learned in the workplace for several weeks http://leadership.nec.edu/ SOURCES http://www.lm.com/sites/default/files/2013 ethics compliance leadership_survey_report.pdf http://www.ccl.org/leadership/pdf/research/roleOfPower.pdf http://www.mckinsey.com/insights/leading_in_the_21st_century/leadership_through_the_crisis_and_after_mckinsey_global_survey_results http://www.prnewswire.com/news-releases/deloitte during crises execulive leadership-is-key-to-successful turnaround 205216981 himl http://hbr.org/2000/05/cracking-the-code-of-change http://www.mckinsey.com/App_Media/Reports/Financial_Services/The_Inconvenient_Truth_About Change_Management.pdf

Top Contributors to Organizational Development and Change

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It's accepted practice that businesses need to adapt as the economic climate and digital innovations rapidly change. But not every leader is capable of smoothly taking their team forward. This infogra...

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