Reallocation of personnel will be carried out by the human resource department. The change program being implemented using this plan, necessitates that employees, especially loan officers be reallocated to new posts. A majority of these will be allocated sales jobs. This exercise will involve evaluation of each employee’s experience and skill set. It will also consider the employee’s track record. This will allow the Human Resource department to allocate each employee to an appropriate position within the organization. Another function under this stage is the restructuring of income for the sales people. According to the leadership team, their income will be partially linked to sales. This means that the higher the loan sales an individual have, the more they earn. This function will be carried out by human resource experts able to determine appropriate compensation, considering the work being done and the financial standing of the organization.
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Restructuring of income might affect morale, positively or negatively. If the income of an individual is cut, his motivation to work reduces considerably. However, if the income restructuring comes up with higher salaries for the employees, their morale will receive a considerable boost. This is dependent on the state of the bank is in and its future expectation (Worrall, Parkes & Cooper, 2004).
Reallocation of personnel will take two years. Since the bank will be in transition, personnel will be reallocated in batches so as to allow for adequate training in advance of the new job, and also to ensure that the functions that have not yet been wound up are still carried out by the remaining employees. The leadership team should communicate this aspect clearly. Incremental reallocation of personnel can cause confusion within the organization. Some employees might think they are being left out. The team should reassure these employees of the process being used.
Again the performance measurement of this action will be morale. As mentioned above, the morale is affected by the uncertainty of reallocation. Employees are not sure whether they will have jobs or not. Most become stressed. This reduces morale in the workplace. If the morale at this stage is low, some changes should be done to the approach being used. Boosting morale at every stage of the change program will ease the implementation by reducing friction between the employees and their superiors.
This is one of the most essential functions of the change program, training employees on various aspects of the change. Some parts of training have been explained in communication and education, and software stages of this plan. This section will explain training as pertains to those personnel who get allocated new jobs which they do not have intimate knowledge of. The change program has established that one of its main changes is the approach to customer lending. Instead of waiting for customers, within the branch, the program wants the bank to actively seek customers in the field. This means that it wants the employees, whose current skills are in loan appraisal to become sales people. However, the skill set of the loan officer is also required. The company wants a combination of the two skill sets to form a sales person who can sell loans.
The human resource department will be responsible of carrying out this training. Depending on their ability to teach, the department might decide to employ consultants to provide training. Specialized training will ease the transition from the current job to the next job (Fincham, 2002). The organization is aware that not all personnel require training to transform to sales. Therefore, careful consideration should be done to ensure that every employee who requires training acquires it. Also every employee who seems not to require training should still be given the chance, at least in the future, to acquire training within his or her discretion.
Like reallocation of personnel, training will take an incremental approach. It will last from the 1st to the 3rd year. As the transition takes form different levels of training will be conducted for the personnel depending on the situation. Training will span the longest of the seven actions. This is because it will cover different levels of skill acquisition. It should be noted that training should be a constant factor in the organization, not just during this transition. This means that the organization should provide momentous training to the employees even after the transition period has ended. New skills are always necessary in changing markets.
Performance measurement on training is dependent on two measures; tests and field effectiveness. Like any other training program, this one will have occasional tests to evaluate the assimilation of knowledge and skills (Palmer, Dunford & Akin, 2009). The tests will form the theoretical evaluation of the training program. This allows the trainer to understand the extent or rate of the personnel understanding of the course subject. Test data can also be used by the HR department to evaluate the effectiveness of the training program. This should allow the department to modify or in extreme cases terminate the training program. The practical evaluation of the training program is how effective the trainees are in the field. The leadership team with assistance of the HR department should monitor the performance of newly trained staff in the field. While field success or failure can be caused by various factors, training is supposed to get the trainee ready for these scenarios (Smith, 2002). Therefore, if a substantial number of employees are struggling in the field, the training program should be changed accordingly to ensure that the next batch of trainees receives better training. As mentioned before the bank should provide constant training. Those who are struggling in the field should be given the chance to acquire more training.
A key change that the leadership team wants to make is launching a subdivision of the company that will deal solely with home loans. It will be independent of the larger Cowboy bank. This action will be carried out during the first year of the transition period. As this is a new arm of the bank, the exercise will involve more starting afresh than changing. New systems have to be set. They must follow the new model of Cowboy bank. That is, the division must have few branches. It must form a strategy that is based on actively seeking customers rather than passively waiting for them. Therefore, it must align its strategy with that of the entire bank. The leadership team will be answerable for carrying out this stage. Unlike the other actions of this plan, this one requires building rather than modification. It will, therefore, be easier to implement new ideologies. Even though the personnel here might include those who were in the other arm of the bank, there is a chance to build the culture from the ground up.
Launching the mortgage division will involve more resources than restructuring. The new systems to be put in place will cost the company. There will be substantial time investment by personnel and the leadership team. Even though the table shows that the action will be in the first year, the development of the division will take longer than that. The other divisions of the bank have been developing for a very long time.
Performance of this action will be linked to the number of mortgage customers the bank acquires over the transition period and the market share it manages over time (Greenlaw, Hatzius, Kashyap, & Shin, 2008). These performance measures are essential in evaluating whether the methodology being used is correct or not. Market share is usually a good indicator of whether the bank is taking the right actions or not.
Institutionalization of changes refers to the process of making the changes a norm within the organization. Cowboy bank ought to make sure that the changes made stick. Changes made in any situation have to stick to the matter (Armenakis, Harris, & Feild, 2000). For instance, if the personnel reallocated do not permanently take up the job, the organization might slide back to the initial status. The leadership team and managers are responsible for ensuring that the changes stay. This action will take place throughout the transition period and even continue after the transition period. As a matter of fact, this action should be made a constant exercise for the organization.
The standards and practices acquired by the change program should be maintained for the long run unless executive decisions warrant some changes. This action involves constantly monitoring activities within the organization. That is, making sure that the organizational processes and procedures are observed for every transaction conducted by the employees. A positive effect of permanent change is continued growth. Decline in growth should always be vetted. There is always a chance that the organization is sliding back to the old ways.
Evaluation of the performance of this step involves monitoring procedures and processes of the bank activities and observing the growth levels. Also, regular audits by external auditors can ensure that the standards achieved by the change program are not compromised. Institutionalization of changes will involve every individual involved in the change program.
The previous section elaborated the technicalities of the plan of implementation. It has shown how different actions will be carried out and on which timeline. Note that the actions are overlapping each other. Most of them are happening simultaneously. This characteristic of the action plan requires the leadership team to manage different initiatives that are happening concurrently. It is their mandate to ensure that the actions do not significantly impact on the functioning of the bank. They are also supposed to ensure that the initiatives do not crash for resources (Fernandez & Rainey, 2006). The leadership team, earlier identified as the sponsor of this plan, should control the rate of implementation. Even though the plan has elaborated a timeline, the team has the authority to switch the timeline if they find it necessary.
Related initiatives such as communication and education, winding up branches and, reallocation and training of personnel, should be managed in such a way to sequentially follow each other. That is, the winding up of branches should not begin before communication and education on the change program has been carried out. This sequential arrangement will allow for the critical management of the process. It will also help control the environment that the employees respond to.
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Independent actions such as the launch of the mortgage division and institutionalization of changes can be carried out at any time during the transition period. The leadership team should, however, be careful in implementing such actions as it might distract the personnel from the main goals of the organization. For instance, the launch should not coincide with the initial communication of the change program. It might confuse the employees as some seek to be transferred to the new division which might seem safer.
The importance of managing how the actions are undertaken cannot be stressed enough. Failure or poor management of the initiative might lead to the derailment of the change program.
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