Dear Members:

As you read this, I have just wrapped up strategic planning for next year with our executive leadership team and board of directors. Strategic planning and looking to the future oftentimes mean embracing change as we consider how we can keep growing in the rapidly evolving fintech environment, remain competitive, and serve our members better than ever. Though the idea of change can be disruptive or uncomfortable for some, it can also be positive. Especially when it leads to better solutions that produce better results. That’s why a recent podcast about change management resonated so strongly with me. 

“WorkLife with Adam Grant” is a podcast series about how to improve one’s experiences at work. The episode “How to change your workplace” reinforced for me the importance of what is needed to propel successful change, which includes breaking down the old ways/habits of working and considering new ideas that may not yet seem like they fit into the bigger picture. Adam outlined a practical, step-by step “formula” to motivate people to try new things, which was particularly useful for me as I have been thinking about how to help make change happen: 

1. Paint a vivid picture of why change is needed. It’s important for everyone to see the future so that they are all inspired by the same image. Most people think change happens in three steps: analyze, think, change. But the way change actually works is this: see + feel = change. When people see something that then makes them feel something, whether that be motivation, surprise, or dismay, it’s that combination (seeing plus feeling) that sparks the change. 
2. Appeal to people’s values and identity. This step can be summarized with a question: How can you convince people that making the change will help them live their values or express their identities? For example, a campaign to cleanup roadside litter in Texas focused not on berating people for leaving trash on the road but instead focused on the theme that residents would want to keep their state clean because they’re good Texans and they love living there. Instead of just demanding that people change or adopt new behaviors, you can effect change by appealing to values they already hold. 
3. If the problem feels too big, shrink the change. In other words, break a meaningful goal into manageable pieces and make it easy for people to find small wins. The podcast mentions that management researchers have a term called “appreciative inquiry,” which means designing a change effort based on what is already working. When you build on what is already working, you give people a sense of stability and possibility. Leaders should ask themselves, “where are the pockets of excellence in my organization where people are living the change I want to see?” Sometimes we can uncover the secrets to improvement by studying our best moments. 

If all this still seems daunting, adopt the “bicycle theory,” which was one of my favorite parts of the podcast. Basically, your bicycle isn’t going to go anywhere unless you start riding it. As soon as you get on the it and start moving, you can course-correct along the way; it doesn’t matter if you’re moving in exactly the right direction from the start because adjustments can happen while you maintain forward motion. The business application here is that the plan doesn't need to be perfect from the start; it just needed to be good enough so that we can get going. 

To sum up, instead of forcing change while strategizing and planning for the future, let’s try unleashing it. There are so many people around us that have great ideas and all they are lacking is the encouragement to try them. As Adam said when he wrapped up the episode, “Change doesn’t have to be about walking away from something good; it can be about growing and expanding into something better.” 

Best,