Question

Employees at the People’s Bank do not trust management and there is a shared perception that information is not shared and communication within the organization is inadequate. On January 14th 2018, Roxanne Padmore was assigned the task of selecting and implementing an investment management software at the People’s Bank. The software was intended to eradicate the need for paper and enhance the execution of transaction between various departments. Some of the eventual users of the software included the compliance, audit, investment execution and wealth management departments. The team selected for implementing the software comprised primarily of personnel from the wealth management department. The software selected by Ms. Padmore and her project team is now being used by the organization. At the end of the implementation process employees complained that the software selected was not user friendly and the software previously used was more effective. Employees also indicated that although Ms. Padmore surveyed the organization on the preferred choice of software, the eventual choice was not the best and cost millions of dollars. The software chosen by Ms. Padmore and her team was the leading brand in many developed countries, used by many banks and the Journal of Investment Management Software stated “it was highly effective and lead to long run cost savings”. However, employees have indicated that the software was not user friendly and has many deficiencies. Furthermore, the use of the software prevents employees from fulfilling critical job functions. Moreover, John Smith an employee in the Compliance Department stated that “the software did not take into consideration the peculiarities of the Caribbean and assumed that one size fits all.” Ms. Padmore and the wealth management team that were responsible for implementation have all left the organization. a) Evaluate the situation above using a change management model. (10) b) Discuss how trust may be cultivated at the People’s Bank. (5) c) Assess the characteristics that would be necessary for a change agent to succeed at the People’s Bank? Propose strategies to ensure the success of the change agent. (5) d) Evaluate the importance of communicating in effectively managing change at the People’s Bank and recommend a communication policy that should be adopted (10) e) Discuss with the appropriate model what steps can be undertaken to reduce resistance to change at the People’s Bank. (10) f) Discuss three assessment tools that can be used at the People’s Bank. (5) g) How can SIPOC be used at the People’s Bank (5) h) Recommend policies or measures to foster innovation at the People’ Bank. (10)

Answer 1

a) Change Management Model:

The change management model that I would recommend to the Peoples bank would be the Lewin’s Change Management Model. This model stipulates on implementing the change through three steps namely:

- Unfreeze

Before you can prepare a feast that has been solidified, you have to defrost or defrost it out. The equivalent can be said of progress. Before a change can be actualized, it must experience the underlying advance of unfreezing. Since numerous individuals will normally oppose change, the objective during the unfreezing stage is to make an attention to how business as usual, or current degree of agreeableness, is ruining the association here and there. Old practices, perspectives, procedures, individuals and authoritative structures should all be deliberately inspected to show workers how fundamental a change is for the association to make or keep up an upper hand in the commercial center. Correspondence is particularly significant during the unfreezing stage with the goal that representatives can get educated about the fast approaching change, the rationale behind it and how it will profit every worker. The thought is that the more we think about a change and the more we feel it is essential and earnest, the more spurred we are to acknowledge the change.

And in the case of the bank the reason for this change and the need for the same should have been communicated with the employees rather than just surveying about the software.

- Change

Since the individuals are 'unfrozen' they can start to move. Lewin perceived that change is where the association must progress or move into this new condition. This evolving step additionally alluded to as 'progressing' or 'moving,' is set apart by the usage of the change. This is the point at which the change turns out to be genuine. It's likewise, therefore, the time that the vast majority battle with the new reality. It is a period set apart with vulnerability and dread, making it the hardest advance to survive. During the changing advance individuals start to gain proficiency with the new practices, procedures and perspectives. The more set they up are for this progression, the simpler it is to finish. Hence, instruction, correspondence, backing and time are basic for workers as they become acquainted with the change. Once more, change is a procedure that must be deliberately arranged and executed. All through this procedure, workers ought to be helped to remember the purposes behind the change and how it will profit them once completely executed.

In this step they should have been helped to convert from the old software which they had been comfortable with and to be hand in hand with the new software which would make the work easy.

- Refreeze

Lewin called the last phase of his change model freezing, however many allude to it as refreezing to represent the demonstration of fortifying, balancing out and hardening the new state after the change. The progressions made to hierarchical procedures, objectives, structure, contributions or individuals are acknowledged and refrozen as the new standard or business as usual. Lewin saw the refreezing step as particularly critical to guarantee that individuals don't return to their old perspectives or doing preceding the usage of the change. Endeavors must be made to ensure the change isn't lost; rather, it should be solidified into the association's way of life and kept up as the satisfactory perspective or doing. Positive prizes and affirmation of individualized endeavors are regularly used to strengthen the new state since it is accepted that decidedly fortified conduct will probably be rehashed.

When the implementation team is sure that the employees are now equipped with the software usage and the training for the same, team can freeze and make this new software and routine a normal part of their work environment.

b) Building trust among the employees of People’s Bank:

As stipulated in the case study, the major problem of the employees of the People’s bank is that the management of the bank is not communicating with the employees. This includes all these matters that are concerning or involving these employees.

The implementation of the software and how it was implemented sets a good example for the same. Rather than the survey conducted among the employees, the implementation and wealth management team did not take any necessary steps or actions to make the employees know about the same and also provide them the required training and skill development which would be required in the adoption of a new software.

So communicating with the employees is one key element that can be adopted by the management of the bank so as to build trust among the employees.

c) Characters necessary for a change agent to be successful:

- Homophile is the closeness between the change agent and client or employees in this case. A closer relationship between these two would make the change implementation easier and smoother.

- Empathy which would make them ready to understand someone’s feelings/emotions and thoughts. Understanding someone’s emotions and feelings is the best way to make suggestions and find ways to get them out of the turmoil and accept the change.

- Linkage is basically the collaboration between the change agent and the employees of the entity.

- Openness would include the openness of the emotions, feelings and also the development of understanding and respect for each other. This is majorly because there are no barriers and we are open.

- Energy is the amount of enthusiasm and efforts put in by the change agent into the whole change process. If the energy of the change agent is low the same would be reflected in the client’s energy.

d) Communication is the key to success of any relationship. And this is true when it comes to the relationship between and entity and its employees also. Only this would make it easy for the management and employees to successfully design, plan, implement and control a change. The major problem which hindered the success in the adoption of new and better software in People’s bank also was the lack of this communication.

The whole process of this new software adoption and implementation was not either discussed or planned with the involvement of the employees of the entity. As it was going to affect them all it would have been more better if the same was discussed and shared for more insights.

The communication policy that I would suggest here would be a more open and direct communication between the employees and the key personnel’s before implementing or planning to make any relevant changes in the entity.