What Comes First—Changing the Tech or the Staff?

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Firms are struggling with technology adoption because they believe their executives or staff can’t change or learn new methods of operating. So they stop implementing the tech (aka the change) and instead start interviewing potential hires to replace their current staff who appear unwilling to change and learn. This stoppage and hiring effort creates a dark cloud over the mood of the staff. It sends a message that the firm isn’t prepared to improve nor invest in change management. Rock star-quality staff take this stoppage as a sign and ultimately stop recommending improvements and cease their championing of change. If the stoppages happen often, your best staff might even start interviewing at other firms or start their own firm.

How do I know if my staff are able to learn new systems?
The easiest way to test the team’s ability to learn is to sell the change before implementing it. As the firm owner, you must believe in the change, know the benefits, and persistently encourage productive feedback. Remember that the administrative person might care about reducing data entry work, while the adviser will want this change to help them onboard a new client more efficiently. Staff that can’t adopt the change will stand out immediately. If they are your key team members, have your executive team talk with them and explore why they are resistant to the changes. Then, and only then, will you know if it is time to search through the resumes and start to recalibrate the staff with a new hire.

Do I lay off a loyal staff person when they can’t learn?
We all know it is very expensive (money, energy, time) to lay off and hire someone new. Any new hire requires you to use energy and time to train them on your firm’s method of operating, philosophy regarding client service and expectations. It is best to NOT lay off those who seemingly can’t embrace change and instead invest in training and change management first. Training can be in the form of scheduled weekly webinars, paying an outside expert or software provider to provide customized training, or having a staff person train his/her peer. Change management comes from the top. If you are not sure you are managing change properly, you can hire a coach to learn how to do this effectively now and in the future.

While you invest in training and management, you should also be scouring the earth for potential hires. A great employee, successor, or partner hire won’t fall into your lap the minute you decide you want to re-calibrate your team. It is never too soon to start networking and doing informational interviews and building your pipeline of candidates. If the training and change management does not produce the results you want, you know you can call upon a pool of qualified candidates.

Change isn’t easy—if it were, everyone would be doing it! Remember that any meaningful technology change—even implementing a new software program—takes more than 66 business days to adopt. Give your staff time to embrace the new tech and provide continuous training, positive reinforcement and examples of the long-term benefits. Most importantly, be sure to give yourself time to lead the troops with a positive attitude and realistic change management goals. Progress may be slow but as long as you’re seeing change transpire, rest well knowing your firm is on the right track.

Jennifer Goldman

 

Jennifer Goldman
Founder
My Virtual COO
Boston, MA

Editor’s Note: FPA members receive a $500 member discount on a My Virtual COO consulting engagement. You can find more information here

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