THE VALUE OF CHANGE

For reasons beyond all our control, 2023 is likely to be a year of change for many businesses and individuals. Change can be unsettling, it disrupts, and it is often feared. But not all change is bad or has negative consequences. Change can be an opportunity to revaluate business activities and operations and this in turn can add signi cant value to your business.

Times of great change historically have been when some of the most successful organisations and brands have been born including Disney in 1929, Revlon in 1932 and Microsoft in 1975.

Have you given thought to what changes could be on the horizon for your business and if there is an opportunity to add value or bene t from it? I’m sure the answer is yes given economic events of the last six months, but let’s just take a step back rst.

Few predicted (or be honest, took seriously) the risk of the global pandemic in the run up to March 2020, yet this seismic, global event and its legacy has ultimately brought signi cant change for all of us. Personally, it has also brought bene ts to my working life and that of the wider team around me. e good news is that ever since Christmas, I think we’re seeing much more resilience in the wider business community, and clients are feeling more in control and better equipped for riding out whatever ongoing economic storm – and the inevitable change it brings lies ahead. It is certainly going to be challenging for some business sectors with the squeeze on household budgets, but don’t forget the good news that the UK economy deed predictions and grew in November by 0.01%. is means it’s not technically in recession, and this will I think help many businesses at least maintain the status quo this coming year.

Bene ts my colleagues and I now have include a better work/life balance and change to workplace policies, such as the freedom to dress for the day ahead depending upon who you are meeting. We have more face-to-face meetings on platforms such as Teams or in person. All this means we’re more relaxed and open as a team, know each other better and this makes us more supportive, re ecting in our work for clients. is bene ts us personally, but also has a wider business value.

I think most people agree agile working arrangements suit most people, and they are here to stay. We’ve all proved the bene t to our businesses and the value to ourselves and it is now a key part of the recruitment package on o er by many rms.

Agile working has a value that, for many people, money simply can’t buy, as it buys time and choice within personal lives. It creates a signi cant amount of goodwill and trust within an organisation. It’s an intangible asset for many businesses, but one which also adds nancial value through happier and more motivated sta , better performing teams and reduced turnover of sta .

Dressing for the day might not be that new in many workplaces, although it used to be just ‘dress down Fridays’ for many rms. However, allowing us more personal choice about what we wear makes us feel more comfortable and con dent as well as giving us a certain amount of personal freedom. I think this makes us all feel more of an individual, and improves our business relationships.

Teams meetings have taken the formality out of many workplaces. We are used to interrupting delivery people, partners, children and pets. We know all their names and it’s refreshing to see that our colleagues have the same daily distractions that we do – it’s just life now. Teams also means we chat more to people face to face – rarely just over the phone now. at helps to build stronger, more personal relationships which are so important in many business sectors. Just three examples there but all changes which have been for the better.

If you have identi ed change on the horizon for your business, that’s good news, as in reality it can be very hard to predict. How your business prepares for and adapts to change is important.

Pre-Christmas, we noticed that clients seemed ‘stressed’. ey were busy, had a lot on their plate, were dealing with a lot of sudden change and many were a bit on the back foot. ere was the unexpected economic turmoil and uncertainty in the early autumn from the Liz Truss Premiership; this was di cult to have planned for.

At the same time, the nation also grieved for the loss of the Queen. Despite her grand age, I don’t think many of us had given a thought as to how her passing would a ect us and our businesses, and many people I spoke to feel a little part of our Britishness and cultural identity has been lost with her passing. All this a ected many people in many di erent ways, and it was di cult to predict or plan for.

I encourage you to use this year to revaluate business goals, objectives and the plans needed to deliver them. Look at all the factors which in uence your decision making, talk to your stakeholders and especially your employees. ere are many more tools and real time data available to the business leaders of today to help make better informed and timely decisions than there has been during previous periods of economic uncertainty.

And remember having a good team around you, who you trust and can bounce ideas o is invaluable. So, let’s not fear change, let’s embrace it, meet it head on and make it work for us this year.

With March 8th being International Women’s Day, this is a great day of celebration for all that women have achieved, often within a system designed by men and, in the main, run by men. This is changing fast but not fast enough. Dynamic Magazine thought we would celebrate this all-important day by asking an array of high achieving women (and men) what the day means to them