Navigating change in 2024

The world of change management is exciting. With the field rapidly evolving, the diverse spectrum of change brought by the latest market trends continues to be the most exciting area to work in. I reflect on some of its key affairs and the impact these inevitably bring to the discipline and the world of the workforce. As we close 2023, an intertwined global risk landscape correlating various societal, economic, environmental, geopolitical, and technical challenges brings us into a state of polycrisis. In the West, beset by its own socio-cultural and political issues, organisations are gearing up for an economic slowdown and turning their internal efforts into large-scale change initiatives and transformations aimed at either scaling down, large-scale business model reorganisations or furthering the technological improvements of the enterprise. Agility, resilience, and adaptability are becoming critical factors behind those changes, and the pressure on implementation and the culture of continuous improvement is visible across many entities. The trend of truly embracing organisational agility is already here as organisations invest in fixed change management skills, fixed resources, and internal change management capabilities. It is encouraging to observe business leaders continuing to seek advice from specialists to unlock human potential and, therefore, open positive outcomes for their investments. The nomological psychological impact of changes on employees and, therefore, their ability to adapt to the new is the main subject of conversation at all levels of organisational hierarchy. However, as mentioned, change is everchanging, which implies that the concept of corporate change management, the discipline, and the profession must keep evolving too. As we observe new change management trends and directions of travel, and with that in mind, I would like to share my predictions for 2024 and beyond:

Emerging technologies: AI and augmented reality vs humans at work

One of the current and continuing trends is an overwhelming focus on large-scale change initiatives and transformations, with technology investments driving the change. With all the possible applications of AI and other emerging technologies not yet fully grasped, enterprises are focusing on enhanced productivity and the commercial benefits it brings. The hopes are high for digitalised business processes that promise an increase in individuals' efficiency and productivity. Yet, technology decisions cannot be made in silo or imposed on the workforce. For this reason, it is hardly surprising that change adoption and employee resilience become key topics at all levels of the organisational management hierarchy. The ability of the organisation to be as agile as possible, resolve problems, and continuously adapt to change is once again at the forefront of management thinking, as is ensuring that technology embraces the human aspect of change.

Advocacy for change skills at the leadership levels

The post-pandemic trend of layoffs and the 'great resignation' witnessed in sectors like hospitality, financial services, manufacturing, and retail indicates that large-scale change management programs are underway. With these at play, the change fatigue is unsurprising, whilst the need to sustain successful operations puts additional pressure on the management. Employee understanding of the 'why' behind the change is essential, but smart leaders also recognise the need to be at the forefront of change, creating psychological safety during the learning curve. It is encouraging to see those leaders connecting with employees and becoming passionate advocates for improvement programmes, as visible in the increase of senior leader nominations for the Change Awards. We will continue to see the board-level change management advisory and leadership personal change advocacy plans being developed.

Innovative companies create change management hubs

In the age of transformation, successful continuous organisational evolution warrants provision for internal change management capability to access experienced resources at the time of need. Change management expertise is being sought at the early stages of portfolio planning. A change management office or a hub working with the project management office to continuously support organisational performance aspirations is becoming a trend. Fixed skills, fixed cost, budgeted fixed resources, and change-enhancing capability provide a welcome offset against change fatigue whilst delivering aspirational agility and employee resilience. We will continue to see further development of change management capability internally, creating a sustained commercial advantage for entities wanting to improve their performance.

Embracing specialisation in response to growing complexity

As the complexity of change increases, we observe an exciting and natural differentiation within the change management practice. A one-size-fits-all approach is rarely applicable as practitioners' own experiences drive the localised approach in line with the program's needs. While there exists a foundational standard that drives the overall change approach, the trend towards more specialised assistance is gaining prominence. This shift recognises that not all change initiatives are created equal, and a dynamic, bespoke strategy is often essential. Change management is changing, and it is welcomed to further specialisations within the discipline, whether aligned with the nature of organisational endeavour – be it a technological transformation, operating model change, a cultural shift, or M&A activity – or tied to a broader people-centric strategy driven top-down, this move towards the specialisation marks a significant and positive trajectory for the discipline.

Evolution of change management: closing the gap to chartered status

Looking at the evolution of the discipline through the lens of established standards, two dominant approaches prevail championed by a select group of influencers. As the domain continues to gain momentum and we see the uptake across all sectors, it seems reasonable to contemplate a potential formalisation of chartered status. This evolution in line with professional maturation, prompts curiosity about the future trajectory. How will change management professionals collectively shape the narrative to steer it towards the esteemed chartered status? This moment presents a unique opportunity for unity within the profession, and it should not be overlooked.

In summary

Change management efforts, beset by several internal challenges, are again tested in organisations' ever-evolving environment. The digitalisation and the need for continuous organisational agility push the boundaries of the change approach and test the skills of the professionals. As for the trends – these evolve along with the evolving nature and the complexity of the environments in which organisations operate. The future is bright, for this critical discipline is here to stay and further the enterprise's ambition to implement strategic initiatives successfully. Welcome to the age of bilateral cooperation and partnership between the organisation and its employees.

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Navigating change in 2024