Three Ways To Deal With Change

As we continue our preparations for the new TRID rules, the issue of change management comes to mind. In recent years, change has become the norm for our industry. TRID is just the next regulatory hurdle in a series of never-ending transitions we have to make in our organizations. Change is something we’ll have to continue to deal with going into the future. If it isn’t regulatory, it will be technological or economic. Change, as they say, is the only constant.

So, the question isn’t how to prevent change–it’s going to happen whether we like it or not. As leaders in the mortgage industry, the question we must ask ourselves is, “How can we deal with change?” The inability to deal with change can quickly break an organization. If there’s one small transition that goes awry, the ripple effects can quickly lead to your downfall. On the other hand, properly adapting to change can give you a competitive advantage where others aren’t so nimble. Change management can mean the difference between failure and success. So, how do we deal with change? Here are three ways…

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The first and most powerful way to deal with change is to be prepared for it. Fortune favors the prepared. If you have plan for dealing with change as it occurs, it’s a lot less stressful and a lot more manageable. Being ready for change is partly about being vigilant–paying attention to what’s going on in the industry. The earlier you can catch wind of a change that is likely to occur, the sooner you can start making preparations for it. And, once you have a plan in place, the rest is just following through.

A strategy for dealing with change is to tackle it gradually. Instead of trying to force change in your organization abruptly and all at once, make small changes a little bit at a time. The answer to the question of how to eat an elephant? One bite at a time. If you can break the process of change down into small enough pieces, it doesn’t feel so much like change. Especially if you are trying to get your people to buy into the change, you’ve got to make it slow and give them time to digest it.

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One final strategy you might employee in dealing with change is delegation. Just like change is easier when it’s broken down into small pieces across time, it’s easier when it’s broken down into small pieces across people. Instead of forcing everyone to deal with all the pressure and responsibility of the change (or taking it all on yourself), spread the responsibility for the transition out across your team. Distributing the tasks for managing the change will also keep each department of your organization happier throughout the process, because no single person or department will feel like they’re doing everything themselves. You have an entire team–let each member play a role in getting through the change. If you can get everyone to pull together and pitch in, you’ll be pushing through before you know it.

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