Strategies For Sustaining Change In Financial Services

Too often, I see organizations treat change management like a box to check. A big announcement, a training session, and then done. But real change doesn’t work that way. True transformation requires: – Ongoing assessment – Adaptation – Reinforcement Without continuous effort, old habits creep back in, resistance builds, and the change fades. Here’s what effective change management looks like: ✅ 𝐂𝐨𝐧𝐭𝐢𝐧𝐮𝐨𝐮𝐬 𝐜𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧 → People need clarity, not just at the start but throughout the process. ✅ 𝐎𝐧𝐠𝐨𝐢𝐧𝐠 𝐬𝐮𝐩𝐩𝐨𝐫𝐭 → Training once isn’t enough. Reinforcement helps teams adapt and sustain new behaviors. ✅ 𝐑𝐞𝐠𝐮𝐥𝐚𝐫 𝐟𝐞𝐞𝐝𝐛𝐚𝐜𝐤 𝐥𝐨𝐨𝐩𝐬 → Success isn’t set in stone. Organizations must listen, measure progress, and adjust as needed. ✅ 𝐂𝐮𝐥𝐭𝐮𝐫𝐚𝐥 𝐢𝐧𝐭𝐞𝐠𝐫𝐚𝐭𝐢𝐨𝐧 → Real change becomes part of how a company operates, not just a project with an end date. If you want change to last, 𝐜𝐨𝐦𝐦𝐢𝐭 𝐭𝐨 𝐭𝐡𝐞 𝐩𝐫𝐨𝐜𝐞𝐬𝐬, 𝐧𝐨𝐭 𝐣𝐮𝐬𝐭 𝐭𝐡𝐞 𝐞𝐯𝐞𝐧𝐭. The best organizations don’t just manage change. They embrace it as a way of working.

🚨 𝟲𝟬% 𝗼𝗳 𝗳𝗶𝗻𝗮𝗻𝗰𝗲 𝘁𝗿𝗮𝗻𝘀𝗳𝗼𝗿𝗺𝗮𝘁𝗶𝗼𝗻𝘀 𝗙𝗔𝗜𝗟 𝗮𝗳𝘁𝗲𝗿 𝗣𝗘 𝗮𝗰𝗾𝘂𝗶𝘀𝗶𝘁𝗶𝗼𝗻. 𝗡𝗼𝘁 𝗯𝗲𝗰𝗮𝘂𝘀𝗲 𝗼𝗳 𝘁𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆. Because CFOs forget that spreadsheets don't resist change—people do. Your AP clerk isn't afraid of new software. She's afraid of becoming irrelevant. Your controller isn't resisting month-end acceleration. He's overwhelmed by expectations he doesn't understand. The 𝗔𝗗𝗞𝗔𝗥 framework is the tool that I recommend to use when integrating the finance/accounting for an acquisition. ✅ 𝗔𝗪𝗔𝗥𝗘𝗡𝗘𝗦𝗦: "Why must we change?" (Not just "the PE firm says so") ✅ 𝗗𝗘𝗦𝗜𝗥𝗘: "What's in it for me personally?" ✅ 𝗞𝗡𝗢𝗪𝗟𝗘𝗗𝗚𝗘: Role-specific skill building ✅ 𝗔𝗕𝗜𝗟𝗜𝗧𝗬: Tools and authority to actually perform ✅ 𝗥𝗘𝗜𝗡𝗙𝗢𝗥𝗖𝗘𝗠𝗘𝗡𝗧: Systems that sustain new behaviors One family manufacturer that I integrated into a PE portfolio: 15-day close to 5-day close in 6 months. Zero turnover. 𝗧𝗵𝗲 𝗱𝗶𝗳𝗳𝗲𝗿𝗲𝗻𝗰𝗲? 𝗧𝗿𝗲𝗮𝘁𝗶𝗻𝗴 𝗽𝗲𝗼𝗽𝗹𝗲 𝗹𝗶𝗸𝗲 𝗵𝘂𝗺𝗮𝗻𝘀, 𝗻𝗼𝘁 𝗼𝗯𝘀𝘁𝗮𝗰𝗹𝗲𝘀. 𝗖𝗙𝗢𝘀 𝗮𝗻𝗱 𝗣𝗘 𝗽𝗮𝗿𝘁𝗻𝗲𝗿𝘀: 𝗬𝗼𝘂𝗿 𝗻𝗲𝘅𝘁 𝗱𝗲𝗮𝗹'𝘀 𝘀𝘂𝗰𝗰𝗲𝘀𝘀 𝗱𝗲𝗽𝗲𝗻𝗱𝘀 𝗺𝗼𝗿𝗲 𝗼𝗻 𝗰𝗵𝗮𝗻𝗴𝗲 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝘁𝗵𝗮𝗻 𝗱𝘂𝗲 𝗱𝗶𝗹𝗶𝗴𝗲𝗻𝗰𝗲. Full framework in article ⬇️ #PrivateEquity #CFO #FinanceTransformation #ChangeManagement

According to a Bain survey, 65% of initiatives fail because they require significant behavioral change. Making business changes stick long-term is one of the greatest challenges leaders face. Here’s how to overcome this hurdle: 1. Clarify Objectives: Without crystal-clear objectives, your team will struggle to understand the "why" behind the change. Define the goals in simple, actionable terms that resonate with every level of the organization. 2. Reinforce Behavioral Change: Behavioral change isn't a one-time effort. It requires consistent reinforcement. Regularly communicate the importance of new behaviors, and celebrate small wins that align with the change. 3. Support Commitment to the Goal: Leaders must visibly commit to the change. This commitment builds trust and signals to the team that the initiative is not just another passing trend but a core part of the company's future. 4. Ensure Accountability: Accountability is critical. Assign clear ownership for each part of the initiative. Use metrics to track progress, and hold individuals and teams responsible for meeting their targets. 5. Combat the Swirl of the Day Job: One of the biggest obstacles to lasting change is the day-to-day swirl of existing responsibilities. Prioritize the change by integrating it into daily routines and making it part of the fabric of the organization. During a recent corporate carveout, we faced the challenge of transitioning from a legacy culture to a more agile, entrepreneurial mindset. The real hurdle wasn't just setting new strategies but ensuring everyone aligned with the new way of thinking. By focusing on these key areas—especially reinforcing new behaviors and combating the daily distractions—we successfully embedded the changes into the company’s DNA, turning a potential roadblock into a stepping stone for growth. Remember, the real problem often isn't the change itself but our collective unawareness of what truly needs to be done to make it stick. Focus on these key areas to ensure that your business changes become lasting improvements rather than temporary adjustments. #Leadership #ChangeManagement #BusinessTransformation #Carveout