THE SKILLS NEEDED FOR LEADING ORGANISATIONS INTO THE FUTURE IN INDIA

The COVID-19 pandemic has caused businesses to perform a rehaul of structures and practices that they have held on to for decades within a short span of time. In the first quarter of 2020, businesses were forced to make the decision to shift their operations to virtual platforms and let their staff work remotely almost overnight. Most organisations even had to make difficult choices of letting go significant amount of business to trim their workforce and ensure organisational survival. While this was required for a while, after one point, scaling down was not an option. Organisations needed to adapt to change and continue with their business under these novel circumstances. It required meticulously designed strategy and blueprints for organisational change which in turn required robust change management. Although the pandemic acted as a catalyst, organisations were already thinking about implementing change in their business practices with the advent of industry 4.0. Data suggests that on an average, all firms globally have gone through at least five firm wide changes in the last three years. Despite the enthusiasm and resilience displayed by most organisations in the face of uncertainty, research shows that 60-70% of all change initiatives taken by organisations fail, something that can be attributed to organisations not utilising the best industry practices. Within the context of Industry 4.0, change management requires rigorous upskilling of management professionals through dedicated courses by deemed management institutes. Demand for Change Managers Companies are 2.5x more likely to outperform their peers with an effective change management practice in place. Change management can be highly beneficial to an organisation’s growth when it is done right. On the other hand, improper strategy and techniques can not only inhibit an organisation growth objectives but also make it incur additional costs with no returns. Companies with an effective change management programme in place can achieve 143% of the expected returns on investment. This requires skilled talent to plan, design, implement, and monitor organisational change. Traditional management education does not equip one to fulfil the role required for organisational change management as it requires a specialised set of skills, including effective communication, research, strategic thinking, measurement and analysis, resilience, team building, and collaboration. Change managers need to be highly proficient in technical skills but also possess human and interpersonal skills. The COVID-19 pandemic has stretched the limits of organisations which has adversely impacted their personnel. Now, more than ever, change management needs to be people-centric, and this requires professionals trained specially in handling the process of organisational change and its cascading effects on the organisation’s workforce. Considering the shortcomings of conventional management degrees, the way ahead for this is more clearly visible through upskilling courses. Upskilling with IIM Trichy LCM Program IIM Tiruchirappalli is offering a six-month Executive Programme in Leadership and Change Management that aims to equip its participants with the ability to anticipate, strategise, and execute the change within their organisations. The leadership and change management course seeks to abreast one with the competencies to leverage change as a developmental phenomenon within their organisations. The dynamic and industry-oriented leadership and change management programme features a curriculum that covers topics such as human behaviour, emotional intelligence, team building, conflict management, organisational culture, business communication, data analysis, and stakeholder management. Gaining an understanding of these aspects would fully prepare one to create and implement an effective change management strategy for organisations. The programme follows an immersive pedagogy that includes case studies and peer-learning to enable participants to gain complete conceptual understanding in addition to the ability to apply these concepts in real-life situations. Change management professionals go on to occupy important roles in organisations across sectors because regardless of the domain they function in, every organisation in the contemporary and corporate world requires some sort of change. The figure above provides an overview of some of the job roles professionals who are upskilled in change management could occupy. The surging demand for professionals in this field means that they enjoy lucrative salary prospects and exciting opportunities for job growth. Pursuing IIM Trichy Leadership and Change Management Programme is a fruitful investment in one’s future who benefits can accelerate career growth. To know more: https://timestsw.com/course/iim-tiruchirappalli-executive-programme-in-leadership-and-change-management/