Are you feeling the pressure from the pace of change? If so, you are not alone. The pace of change, the stress, and pressure that leaders today are facing is unprecedented.
According to a recent research study done by Accenture, the pace of change has increased 183% over the past four years and 33% in the past year alone. And the C-Suite Executives studied see no end in sight. The Accenture survey reveals that a striking 88% of those executives anticipate an even faster rate of change in the coming years.
Why Is the Pace Of Change So Challenging?
We are in the middle of what is known as a polycrisis, a term coined by the World Trade Organization to describe multiple crises that happen in rapid succession and those that build and feed off of one another.
Think about the world we live in – we have increasing technological changes, rising geopolitical tensions, economic shifts and stagnation, global uncertainty. Challenges that for our business forefathers would have been a once in a generation event – now leaders and teams are dealing with all of those crises at once, with more change to come.
No wonder you as leaders, and your teams are burned out, overwhelmed, and struggling to keep up with the pace of change.
The statistics are staggering.
- 70% of change initiatives fail
- 83% of employees suffering from burnout and change fatigue say their leaders are not giving them the tools and skills to adapt
- 77% of employees report feeling burnout in their current job
- Burnout decreases productivity by $3,400 for every $10,000 of Salary
- Burnout increases absenteeism by 37% costing companies over $100 million a year
And we are just getting started. The list of statistics is powerful when you think about the continuing increase in the pace of change, combined with the impact it is having on your workforce. As a leader you have got to grab hold of this now and learn to master the art of change.
5 Must Have Strategies Every Leader Needs To Know To Master Change
Engage with Purpose
Uncertainty, left addressed, produces one emotion and that emotion is fear. That is the one emotion that will kill growth. To get past fear, team members and leaders need a purpose, a reason, a why. Purpose makes me feel important, that they matter, and that the work they are doing, no matter the obstacles, will make a difference.
Give Ownership
Rapid change and uncertainty make leaders and team members feel powerless. What teams want is some level of control, the one thing that no one can have in the face of uncertainty and change. The next best thing is a voice, and to have their ideas and thoughts shared.
Define Behaviors
The pace of change seems impossible to some, and focusing on the goal can be demotivating. Instead define the behaviors, how you will achieve the goal, and focus the attention there. Helping people feel good about the steps they take, and not worrying about climbing the huge mountain they feel the uncertainty is.
Reward Progress
Every step, no matter how small, made in the right direction needs to be recognized, rewarded, and celebrated. The bigger the change, the smaller the progress, the more important the recognition.
Listen, Listen, Listen – Act
And most important, listen to your leaders, teams, empathize with them and then help them turn their challenges to solutions. Ignoring people’s fears or struggles will not make them go away, in fact, not listening will enhance them. But if you listen, empathize, and then refocus their attention on the solution, you will turn uncertainty to competitive advantage.
