Change is in the air. It’s all around us … in the physical sense the leaves are changing, the crisp cooler weather tells us that winter is on our heels. And change is inevitable in our current economic climate. Our ability and effectiveness to manage that change can mean the difference between running a successful business and running out of business. Poorly managed change in the workplace leads to stress which, in turn, creates poor job performance, more absenteeism and increased employee turnover.

A recent survey by the American Psychological Association revealed that 74 percent of Americans identified work as the main cause of their stress; this is a 15 percent increase over the year before.  Over half of the participants acknowledged that stress negatively affects their job performances.  They also admitted that the mental and physical manifestations of stress caused them to leave or consider leaving positions. Forty-eight percent of employers surveyed recognized the problem, but only 5 percent were addressing the issue.  Companies large and small must recognize the need for change management because the costs are high.

Keeping up with the global market, economic trends, information and technology requires companies to implement frequent changes.  These changes, while often necessary, can cost millions.  An individual company’s return on investment (ROI) for change is determined by how effectively that company implements the necessary changes.  A study reported by the Graziadio Business Report of Pepperdine University revealed that companies with a strong change management program had an average ROI of 143percent while those without had an average ROI of 35percent.  So, how does this affect the bottom line? A ROI of 143percent translates to a 43 cent gain for every dollar spent while a ROI of 35percent is a 65 cent loss for every dollar spent.

Half of all businesses recognize they are not managing change effectively, yet only 5 percent do anything about it! Yikes! Make a choice to better manage change in your organization. It is clear this is one factor that has a direct link to an organization’s success. Do you want to know how you score? Learn how effective you are at managing change by taking a free assessment. This assessment measures 17 personality traits and provides respondents with a snapshot and score in a variety of areas like time management, creativity and sensitivity. The personality assessment is available at www.northstar360.com/assessments. This is a complimentary assessment provided by NorthStar360.