Facing an unpredictable change at work can be daunting, can't it? Especially when it's a major shift like mass layoffs, new leadership, or a different company strategy. As finance and accounting professionals, we are not immune to these whirlwinds of change. So, how do we adapt? Fear not, for this bonus episode of the Finance Leader Podcast is here to guide you, offering a process to make wise and calculated decisions when faced with significant changes.
Adapting to change process:
Accept that nothing stays the same,
Have your tools ready,
Continue to produce great work,
Do the analysis and make a well-thought-out decision on how you face the change, and
On the website, you can download the Become a Finance Leader Guide. You can use this guide to build your Finance Leadership skills so you can help senior leaders develop and execute the strategy.
Hi, this is Stephen McLain of the Finance Leader Podcast. This is bonus episode number 65. Good day to everyone. I hope your week is going well.
Stephen McLain:
I'm doing another quick check-in and wanted to ask how do you react when you have to face an unknown situation at work or even in your life. At work, it could be a reaction to a change in the market which results in mass layoffs and thus a possible job loss, or even a change in strategy, or maybe a change in senior leadership, which means a likely change in culture. These are significant changes and you have to be ready to adapt and change along with it, or you have to move on. But what can you do to prepare yourself for eventual change and what should you do for a process to help make a more wise and calculated decision when faced with significant change? Adapting to change requires us to maintain our flexibility and to have an open mind. Our world is changing, technology is changing, the economy is changing, how we conduct business is changing, and we must have a mindset and outlook that prepares us for more flexibility. Have you ever found yourself facing a change that surprised you? It happens all the time. Our leadership will be more important than ever when facing change. Every time I speak or write or produce a podcast episode, I am advocating for better leadership. I want finance and accounting professionals like you to always be leaders. First, we must be ready to lead our teams through anxiety-wrenching change. We must be ready to offer critical advice to help our team members make a better decision for themselves. I want to cover a process to help you make a better assessment and decision. Keep these things in mind so you are ready for the change to come.
Stephen McLain:
Number one accept that nothing stays the same. Change will continuously happen. Be ready for it. Ready your mindset, your attitude and your acceptance. Focus on what you can control. You can control your reaction, your decision process, your commitment to what needs to be done and your obligation to do well at your tasks and assignments as you work through the situation. Number two have your tools ready your resume, an updated LinkedIn profile, your network and your references. You should update your resume every month. Keep your LinkedIn profile fresh as you update your resume and make contact or reach out to your key connections so you can activate them when you need to and be there for them too. Number three continue to produce great work. Stay steady in your responsibilities. Complete your tasks with excellence, as you always have, so no one has a reason to doubt your performance.
Stephen McLain:
Number four do the analysis and make a well thought out decision on how you face the change. Do you stay or move on? Is the situation so significant that you have to do something else instead of staying in your current role? Do the analysis, do some introspective thinking and evaluation on what matters most to you, then make a decision. Keep in mind that if the change requires layoffs, try to determine what your severance package will be and include that in your decision. And also don't forget that resigning your position may put you at risk for any unemployment benefits. So please check your local laws.
Stephen McLain:
And number five commit to your decision without regret. Whatever you decide to do, make sure you can execute that decision without doubt and without regret. Commit and move in that direction. You can't escape change. One day you will show up or log on to work and an announcement will be made. How will you handle it? What will you do?
Stephen McLain:
I want you to have a deliberate, well thought out, patient process that produces a plan that makes sense for you. I want to cover this topic in a full podcast episode in the future. Please also make sure you keep up with your goals for this year and get ready to start planning for 2024. I have started my planning for next year already. We need to keep focused on our most important long-term goal and the short-term goals that contribute to that long-term goal. What do you want to accomplish? Stay focused, document your progress and assess where you are at. So get ready for 2024. I hope you have a great rest of your week. Thank you for listening to the Finance Leader podcast and please visit financeleaderacademycom for more resources. Thank you, and take care.