Financial service providers faced major challenges even before the financial crisis. The market and competitive environment requires the regular review and adjustment of existing structures and processes in financial institutions. Integrated and sustainable change management is a demanding process that can be professionally supported by zeb/ for your bank – both in strategic and operative terms.
zeb's work in all change projects is based on the following assumptions and foundations that have to be taken into consideration for the implementation of successful, sustainable change processes in credit institutions and insurance companies:
- The complexity of necessary changes and opposition is frequently recognised too late and the efforts required are underestimated, whereas the speed of change is overestimated.
- The most important success factor is accurate communication adjusted to the addressees and provided at the right time. The objective of change must make sense for all stakeholders. This is the basis of a high motivation for implementing changes.
- Opposition, conflicts and a lack of understanding primarily result from unresolved conflicts between objectives and from inconsistencies in the procedures adopted by different corporate divisions.
- The route of a change process is open. At regular intervals, the executives jointly have to get an overview of the current status of the change process and of what is needed for effectively achieving the objectives. Thereby, they become key multipliers for the change process.
- Implementation equals change! This requires clear tasks, disciplined follow-up and learning from deviations emerging during implementation.