78% of business leaders 'aren't ready' for expected post-election changes
- ExecOnline, executive content provider, found that 78% of business leaders polled in its Trump Leadership Survey anticipate changes under the new administration, but aren’t ready for new ways of operating. The survey polled 1,300 business leaders in 54 U.S.-based companies across 17 industries.
- While business leaders claimed they aren’t ready for change, they feel they need to position their companies for success, says ExecOnline. The top changes they think they should make are to financial projections (39%), company strategy (30%) and capital investments (30%).
- The study also found employee buy-in for change a problem for business leaders. A clear majority (83%) said they see resistance to change among their workers. And only slightly less than half (46%) said peer leaders are effectively creating employee buy-in for change.
Changes under the Trump administration already have occurred, although few have focused on commerce. The most notable are attempts to repeal the Affordable Care Act. Employers can expect roll backs in regulations businesses find burdensome; likely targets include the Labor Department’s fiduciary and overtime rules.
Organizations whose employees are not sufficiently buying into change should look to HR for its expertise in planning and helping workers adjust to unfamiliar practices and procedures. Communication tools will be key, as communication will need to be thorough and across multiple platforms.