It costs 10 times more to gain a new customer than it does to keep an existing customer.
In order to be effective, a comprehensive change management process requires three elements:
- Leading the change.
- Managing through the change.
- Providing an environment where the change can easily and smoothly be accepted.
Loyalty Factor's seven-step change management process incorporates each of these elements. Similar to our strategic assessment process, our change process fuels momentum and trust by engaging and valuing all constituencies in an organization. This leads to maximum results and provides excellent ROI for your change initiative.
Loyalty Factor's Seven Step Change Process
- Hold an Executive Workshop to clearly articulate:
- The changes that need to be implemented.
- The vision for how these changes will positively affect the organization.
- Methodologies and processes to move from the present state to the
- Communicate the change process to the entire organization to address
resistance and develop support for the change.
- Engage change agents in developing recommendations for how to address any
obstacles to the change.
- Determine an implementation plan for the change including timeframes and
- Communicate the implementation plan and schedule to the entire organization
to ensure awareness and involvement.
- Train frontline managers to provide them with the skills necessary to implement
the required changes.
- Measure the results to determine what additional tools, training, and processes
employees need to enhance the change.
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In times of economic unrest, it is extremely difficult to maintain status quo in your business processes and positively impact the bottom-line. This is where developing new initiatives and managing the change process is critical. Leaders realize they need to continually stimulate winning change strategies because organizations that do not change, do not grow, and die.
Loyalty Factor helps individuals in the organization through the 5 stages of change.
- Awareness that change is coming.
- Interest in seeing the change happen
- Personal evaluation of the change
- The decision to try out the change
- Adoption of the change
This minimizes the resistance to the change and helps leaders and managers handle the various levels of resistance. Even in the current economic downturn, Loyalty Factor clients are multiplying profits, increasing productivity and growing.