To say that the coronavirus pandemic has changed the whole would be a massive understatement. Throughout the past two years the pandemic has changed every aspect of life, and sped up pre-existing trends in how people consumer, work, and travel.
Nevertheless, change is a normal and inevitable part of life. The world is constantly changing, so why shouldn’t your business? Companies that don’t adapt to societal changes are at risk for stagnation and may have trouble adapting to the needs of the market.
Many individuals find the process of change difficult as it can feel uncomfortable to step out of accustomed habits and comfort zones, but in both life and work this is essential for long term success. Remote workplaces in particular have found difficulty when implementing change upon teams who work from home, highlighting the importance of the office in the process.
Implementing and supporting change is much more effective in a physical working environment due to the ease of implementing changes, creating role models for change, leading staff through the change and checking if the changed way of working is suitable for all employees.
Below we explore the 7 benefits of successful change management in the workplace, and why finding an office space to rent is essential to the success and growth of your business.
As every business has the goal to grow, we’ll start with scope for growth…
Many studies have highlighted change as a critical measure for business growth. Without disruptive changes, businesses can’t reach or grow to their full potential.
Embracing necessary changes and ones that solve the current problems of your company can spur on growth. With the right changes, productivity and efficiency will increase, and your employees can gain the knowledge and skillsets that will help to create success in the future and thus ensures growth.
Implementing several improvements in the workplace can increase revenue for your business. Many businesses see only large changes, such as a different operating strategy, management, acquisition or raising prices, as revenue influencers.
However, even small changes can add up to big changes in your bottom line. For example, something as small as giving your employees an extra micro-break a day can affect productivity by up to 13%, which has a positive effect on revenue. Likewise, other small changes may help to reduce waste or make your organisation make smart choices that reduce costs.
Change assists organisations in finding and nurturing new business ideas and opportunities. Adopting outstanding change strategies can help any business move forward into new areas created by new ways of working. This could include getting involved in plans to expand with other companies or gaining new contacts which leads to sales growth.
Changing your practices to reflect changing customer needs, new ways of delivering customer service, strengthening customer interactions and new products can also attract new clients and create customer loyalty.
In today’s fast-paced business environment, changes occur daily relating to the population, customer trends, technology and economy. Few businesses can get by with doing the same thing that they’ve done for years, and many who fail to embrace change can end up out of touch and unable to compete under current trading conditions.
Companies who constantly innovate and create change to their business practices to reflect the environmental changes stay afloat and thrive. It’s critical to keep up with the latest trends and changes in the market and apply the preferences of your customers to your business practices to stay relevant and ahead of competitors.
Your organisation will never progress in the business world without a positive attitude, dedication, and most importantly, the commitment to change.
Change is a critical factor in overcoming the barriers that threaten your organisation. Once you have highlighted whatever is holding you back and planned to replace it with a new way of working, you are well on the way to success.
Innovation plays an extremely important role in any organisation, as it’s essential for making services or products better, faster or cheaper than offerings from competitors.
Change in the workplace allows employees to learn new skills, explore new opportunities and exercise their creativity in ways that benefit the organisation through innovation, new ideas and increased commitment.
An organisation’s ability to nurture new skills and specialities within its employees allows them to become more well-rounded and talented individuals, but also positively affects the whole business.
Staff who are stuck in the same routine every day performing the same daily tasks will never get the opportunity to gain a fresh perspective, learn new skills or bring anything new to your business.
Therefore, introducing changed procedures or strategies in the workplace will not only help your staff to develop personally and up-skill but will also create situations where your business will automatically grow alongside them. When employees feel focused and engaged in a stimulating workplace, your bottom line can be positively impacted.
All companies need to involve change as a crucial part of their strategy, as this has various benefits for all businesses which will hugely impact both success and growth. If your business has no intention to change you will struggle to adapt to the needs of your market and may be at risk for stagnation.
At HUB26 we realise that the office is the perfect place to foster and establish change, as in the physical business environment changes can be enforced and employees can understand, commit to, accept, and embrace changes in the best way possible.
Our modern offices are built to give your employees the best working experience possible and inspire the growth of your business. Also, our new site, Lawrence House, hosts an extra 22,000 square feet of fully customisable office space, so no matter what you require, we’ve got you covered.