How a Major Global Financial Services Firm Boosted Business Performance Through The Change Compass
When organisations embark on a change program, the conversation typically starts with data — data to help understand change, inform decisions, and track progress. But as illustrated by the journey of a major global financial services firm, real business value is achieved when that data becomes the catalyst for a fundamental shift in how change is managed, governed, and embedded into daily business.
Within just one year of using The Change Compass, this firm elevated its change management practice to become a critical driver of strategic decision-making, operational excellence, and business performance improvement.
Let’s explore the four areas where the greatest value was realised — and how your organisation can benefit from a similarly holistic approach.
1. Optimising performance through change portfolio management
Many organisations struggle with visibility: too often, change initiatives happen in silos, leading to undetected risks, duplicative efforts, and suboptimal resource usage. The Change Compass changed that paradigm by allowing leaders to visualise the full spectrum and complexity of ongoing and upcoming changes across the business.
Key outcomes included:
Clear visibility of change complexity: Leaders understood not just the number of initiatives but also their interactions, overlaps, capacity required, and cumulative impacts.
Real-time risk identification: Delivery risks became evident early, enabling proactive mitigation and adjustments.
Strategic prioritisation and sequencing: With improved transparency, change teams could optimise the order of initiatives, manage dependencies, and ensure critical projects were staffed and resourced.
Informed resource planning: Accurate data replaced gut feel, driving more precise allocations of people and budget.
Insight: For many organisations, these benefits translate into fewer unexpected disruptions, smoother implementations, less “change fatigue” for staff, and higher project success rates.
2. Powering change governance with actionable insights
Historically, change teams often struggled to earn a “seat at the table” when major business decisions were made. With The Change Compass, this financial services firm embedded change management as a strategic partner, not an afterthought.
Tangible improvements included:
Change team at decision-making forums: The change team now contributed concrete, data-driven insights alongside the PMO and executive/business leadership.
Integrated insights across functions: Data from The Change Compass connected the dots between initiatives, allowing different teams to align efforts and avoid costly missteps.
Value delivered: This meant better-aligned priorities, more robust business cases for investment, and consistent progress reporting to executives, instilling greater confidence at all levels of the business.
3. Pivoting the Change Practice
True change maturity is not just about delivering projects; it’s about growing the organisation’s ability to manage change as an ongoing capability. Using The Change Compass, the firm shifted from a reactive, project-by-project approach to building a strong, influential change culture.
Results included:
Strategic partnering skills: Change leaders became trusted advisors to the business, not just project facilitators.
Community building: A sense of shared mission and ownership emerged among those involved in change, breaking down silos and fostering peer support.
Influence and credibility: The change function established itself as a go-to resource for insight, guidance, and innovation.
Broader benefit: Over time, this led to more consistent adoption of new ways of working, higher engagement, and accelerated pace of transformation.
4. Developing strategic change capability
Finally, the journey was not just about fixing today’s pain points – it was about future-proofing the organisation. By centring decisions on solid data, The Change Compass helped this firm systematically level up its change maturity.
Major advances included:
Data-driven prioritisation: Clarity on what matters most, reducing wasteful activity and focusing on business-critical shifts.
Partnership between business and PMO: Rather than working in isolation, both functions now collaborated with a common understanding of priorities, impacts, and trade-offs.
Foundation for continuous improvement: Ongoing education, supported by real-world analytics, equipped leaders at every level to steer change strategically.
Enduring value: Through this approach, change management became an integral part of the business’s DNA, enabling smarter, faster responses to both market opportunities and challenges.
Why The Change Compass Delivers Real Results
The experience of this global financial services firm illustrates why The Change Compass is not just a tool – it’s a transformational enabler. Organisations using The Change Compass typically report:
Reduced business performance disruptions
Greater alignment between change, operations, and strategy
Improved staff engagement and reduced change fatigue
Faster realisation of business value from new initiatives
By illuminating the complex web of change, reducing uncertainty, and embedding data-driven insights into everyday business, The Change Compass doesn’t just help organisations “manage change” – it helps them excel through change.
Are you ready to turn change from a headache into a competitive advantage? Discover how The Change Compass can help your business unlock its full potential.
If you’d like to explore these outcomes in detail or get a tailored consultation, contact us today. Let’s accelerate your change journey together.
On Google,, the 2nd most searched term in change management is ‘change management process’. Users are keen to understand a standard formula that they can apply to manage any change. Most users are looking for something simple, and clear, and lay out a step-by-step process that describes what they need to do to manage change.
Managing change is no longer the arena for change practitioners. The field of change management has grown in such leaps and bounds in the past 20 years that most leadership concepts now have a section on change management. Nearly all large 1st and 2nd tier consulting firms have a change management practice, even the likes of McKinsey, BCG,, and Bain.
Around us, we frequently see change management being mentioned. Change is even a visible tagline for the marketing campaign for lots of organizations. Accenture’s marketing tagline in 2021 is “Let there be change”. The Motto for The University of Technology Sydney is “Think. Change. Do”.
What are the common change management processes?
Prosci is one of the most known change processes, especially for those located in the United States. Change First has a ‘PCI’ (People-Centered Implementation) model. Then there is John Kotter’s 8 steps for leading change. What all the models have in common is the initial engagement and planning, followed by change implementation, ending with a transition and sustaining phase.
Companies like having one change process to follow.
Most organizations with a change management practice will have, as part of their offering, one change management process for all practitioners/managers to follow.
Why is that?
A common language to talk about managing change so that different stakeholders can refer to the same language, especially those who are not changing practitioners. Creating terms that are easily understood by stakeholders within the company makes sense.
Ensure new change contractors adhere to “the way of doing things” in managing change within the organization. This is often a big complaint, that a new contractor will bring with him/her new ways of doing things, many of which may not gel well within the particular organization.
Create a minimum level of expected quality in managing change so that at least the ‘minimum’ is carried out and that there isn’t anything obvious that is left out. This is especially important for project teams who may not know what change managers do and what outputs they should be working on.
Prosci’s ADKAR model, a framework focusing on five key elements—Awareness, Desire, Knowledge, Ability, and Reinforcement—that individuals need to successfully navigate change.
John Kotter’s 8 steps model for leading change, providing a roadmap for organizations to effectively manage change, from creating a sense of urgency to anchoring changes in the company culture.
So what is wrong with using a change management process?
Not one change process may be relevant for all cases Change management processes and concepts are good as general references to guide the change practitioner in baselining and learning the key steps that are critical in establishing a good change outcome. No change management process can suit every company and every type of change. This is why it is a good idea to leverage a diverse range of change processes for change managers who are starting out in the industry. Different change processes may cover different areas, therefore provide a synergistic range of references.
For example, John Kotter’s 8 steps of leading change are great for all levels of leaders and team managers as the model is focused on managers leading groups of people through change. On the other hand, Prosci’s ADKAR model is more suitable for a project context where there are a series of activities over several project phases to lead impacted stakeholders through the change.
Also, some change processes may not be applicable for all change scenarios. For example, the famous ‘change curve’ or the Kubler-Ross model of grief and loss. For some reason, this model has been applied so much within a change context that a lot of business people expect that the ‘change curve’ will always occur.
This is absolutely false. In the change curve, there is a prescribed process of shock, denial, frustration, and depression. There are not many change scenarios in which large groups of people go through these emotions. Examples include large-scale restructuring involving retrenchments. However, for standard process changes, technology upgrades, or new product launches, it is very rare that you will see this process being applicable at all.
Blindly following the process One of the biggest dangers and risks of following a change process is not to know when to deviate from the process. This may especially be the case for less experienced change practitioners. The outcome of blindly following the process can mean that the change actually does not happen and the change dial is not moved at the end.
What I often see from change managers who blindly follow the process is a change plan that contains a series of generic activities such as stakeholder engagement, communication, and then launch. Often in these cases, there isn’t a deep understanding of what the change involves from the perspectives of impacted employees. What it means to them may be more than just meeting informational needs. There could be subconscious attachments or preferences/habits that are hard to break.
An analysis of the perceptions and history of changes experienced by those impacted by change is critical. What you may uncover is potential anxieties, expectations, habits, and misunderstanding of what the change involves. This may be ignored by popular change processes.
Change processes may not be linear Experienced change practitioners have seen this. Often what is planned on paper does not actually pan out to be the case. Most change processes follow a scenario where everything goes well. But for complex changes, there are often mishaps or obstacles.
For example:
Key stakeholder groups were not identified upfront and the delay in engaging with them causes overall project delays and stakeholder complications.
Feedback from stakeholders is that the initial messaging was not clear enough and did not reach all groups. Another round of communications and engagement campaign is required to reset expectations.
Learning content was too long and did not sufficiently match employee expectations, thereby resulting in lower completion rates.
After the project rollout, as soon as resources were pulled out of the project team after go-live, adoption rates dived, resulting in little benefits achieved.
In many of these cases described above, the change practitioner needs to repeat certain processes, go back to previous steps, or even split stakeholders with some progressing further in the change process than others.
Following a process may inhibit experimentation One of the core aspects of agile ways of working in implementing change is experimentation. We see teams from development and marketing constantly experiment and learn to evolve into a solution that meets business objectives. In change management, there is little practice in experimentation, even though this is such a core part of agile.
Blindly following the process
One of the reasons could be that change practitioners are used to following a prescribed change process and not used to experimenting with their change approach. Instead, most rely on previous experience or what others have done in other change initiatives. Despite this, there are many good reasons for experimenting change approaches, especially for large/complex change initiatives.
Potential experiments can include:
Communication positioning
Leader storyline for the rationale of the change
Training content
Change measurement
Impact assessment design
Townhall design
Behavior reinforcement and incentives
Not sufficiently emphasizing the importance of measurement Measurement is one of the most important aspects of managing change. Without knowing exactly the outcome of each of the activities we are executing how do we know that we are in the right trajectory? Also, measuring our change intervention ensures that we have the exact gauge on how effective the interventions are, and also where the stakeholders are along the journey. If we’ve not had any complaints or ‘noise’ does not mean that all is well and that the change will take place.
How are you measuring your changes so that you understand where your stakeholders are transitioning to?
Future Trends: Discuss emerging trends and innovations in the field of change management, such as the integration of artificial intelligence, agile methodologies, or digital transformation initiatives. Providing insights into future directions can help readers stay ahead of the curve and adapt their change management strategies accordingly.
In addition to established methodologies, the future of change management is being shaped by cutting-edge technologies and innovative approaches that are revolutionizing how organizations navigate transitions. One of the most exciting developments is the integration of artificial intelligence (AI) into change management processes. AI-powered analytics can provide deep insights into organizational dynamics, predicting potential challenges and offering personalized interventions to drive successful change outcomes.
Furthermore, the rise of agile methodologies is transforming traditional change management practices. Agile principles emphasize adaptability, collaboration, and iterative progress, enabling organizations to respond rapidly to evolving market conditions and stakeholder needs. By embracing agile frameworks, change leaders can foster a culture of continuous improvement and empower teams to embrace change as a catalyst for innovation.
Moreover, digital transformation initiatives are reshaping the landscape of change management. As businesses undergo digital transformations to stay competitive in today’s rapidly evolving digital economy, change management becomes increasingly intertwined with technology adoption and organizational agility. Leaders must navigate complex ecosystems of interconnected systems, processes, and stakeholders, leveraging digital tools and platforms to drive seamless transitions and sustainable change.
Incorporating these emerging trends into their change management strategies, organizations can position themselves at the forefront of innovation, driving successful transformations that propel them toward future growth and success.
Ever since the epidemic began people have started to suffer mental health issues. In fact, according to Harvard Business Review, recent studies have shown that 42% of employees globally have experienced a decline in mental health since the commencement of Covid. This is not a surprise given that governments have routinely locked-down populations to ensure safety and contain the spread of the virus. For change practitioners driving change initiatives within this context, it is hard to ignore these facts.
However, a lot of change practitioners are advised to steer clear of any mental health issues since they are not health practitioners and not qualified to deal with mental health issues. This may be true. However, just because change practitioners cannot advise on dealing with individuals with mental health issues, this does not mean that their approaches cannot take mental health into consideration. In fact, if a significant portion of the employee population have experienced reduced mental health, this needs to be taken into account and not ignored. Ignoring the facts can mean unsuccessful change outcomes.
So how can change practitioners take into account mental health issues affecting employees so that they are still able to drive successful initiatives?
Common mental health issues
Firstly, let’s look closer at common mental health issues impacting employees during the pandemic.
Anxiety and Depression
A recent report found that a quarter of 10-24-year-olds in the United States (Centers for Disease Control and Prevention) said that they had seriously considered suicide. Other surveys consistently show significant increases in anxiety and depressive disorders and correspond with pandemic trends.
Symptoms of anxiety can range from insomnia, panic attacks, feeling of apprehension, or impending doom, and breathlessness. Anxiety symptoms can also be less physically pronounced such as sweating, dry mouth, dizziness, nausea, difficulty concentrating, and irritability. Symptoms of depression can include difficulty finding joy and difficulty in engaging in normal activities, low energy, declined appetite, hopelessness, and that everything seems an effort.
Languishing
For a section of the population, it may be that they are not feeling severe enough to be diagnosed as being depressed or anxious in a clinical sense. However, it does not mean that their mental health states are optimal. The New York Times labelled this ‘feeling blah’ as ‘languishing’ and that it could be the dominant emotion of 2021. Languishing is the in-between level of the optimal level of mental health and suffering from mental health illness.
People were not feeling burnt out of depressed per se. However, there’s less of the usual excitement, hope and joy in their usual daily lives. Recently I visited my medical practitioner and he commented that of his patients most are suffering various medical conditions and that there are definitely a lot more reports of mental health concerns. People who experience this may not even report it nor even notice it. First comes fewer social interactions, then comes increasing solitude and even isolation.
Incorporating mental health concerns in change delivery tactics
Acknowledgement
The first step to take in incorporating people’s mental health concerns in change delivery is to openly acknowledge this. A lot of corporate communications functions would much prefer to not touch anything that is even remotely negative. However, acknowledging what people are going through builds trust and connection. Ignoring the elephant in the room will not help to engage employees. It is not that this needs to be the front-and-centre of the communication messaging. However, mentioning that there may be employees suffering from mental health issues can be the first step in building improved connections and confront the stigma.
This is especially important if you are driving an initiative that will have a significant impact on employees. If you are requiring employees to undergo significant impact whilst they may be battling with mental health issues, then addressing it head-on is critical.
Role model and sharing of experiences
The initiative sponsor and various change champions can be leveraged to share their personal experiences in dealing with mental health concerns. This helps to de-stigmatize mental health in the workplace and open up the discussion of people’s challenges. During forums, town halls, or even in articles or newsletters, the sponsor can share his/her own experiences in dealing with mental health issues. The trick is to be candid and open. This helps to foster trust with the employees.
Picking up on cues when engaging with individual stakeholders
When working with various stakeholders it helps to establish routine of ‘checking-in’ to sense-check the mental status of everyone prior to starting the meeting. This helps to level-set everyone’s mental status prior to diving into work discussions and helps everyone to understand how others are doing, thereby creating connectivity and inclusiveness.
If you pick up particular cues that the stakeholder may be suffering from mental health issues check-in individually with them to see if they are doing ok. Then, connect them to any company resources available such as employee assistance programs.
Map out the initiatives that impact them – prioritise and sequence.
Mapping out the various initiatives that impact the stakeholder group is one of the most strategic tactics in this list. It means taking an end-user perspective and plotting out all the various initiatives and changes that impact them. Taking this end-user, and design thinking approach, we are not just concerned about the particular initiative that we are driving, but all the various initiatives that the person is/will be experiencing.
During times of change fatigue, it may be that proactive intervention may be required to better prioritise and sequence the change rollout to manage the capacity of the impacted stakeholders. To read up on how to do this refer to the following article:
Different employee groups may be experiencing different needs and challenges. Those with children and that are dealing with childcare challenges during the working day may be experiencing different mental health challenges than those who are singles. Singles may be more inclined to feel isolated and disconnected with limited social support.
By creating different segments, you can position communication messages to better target those audience groups. These are some ideas of potential change tactics for different employee groups:
Employees with children and/or dependents – Offering flexibility in selecting time slots for training sessions, or record any town hall sessions in case they were interrupted during the session
Fully remote workers – Scheduling engagement sessions that involve facilitated discussions on personal experiences in the broader sense beyond just the initiative itself
Non-remote workers – Organising virtual sessions for non-remote workers to connect with remote workers to foster greater connection
Managers – Organise engagement sessions with managers that include content on dealing with employees on mental health issues as a part of the overall manager engagement session content
Measure
As a part of the overall change tactic of successfully implementing the initiative, it makes sense to measure and track employee sentiments. A typical change readiness assessment survey may be supplemented by items on employee mental health. This will help to proactively assess the extent of the mental health challenge for employees and how they may impact the extent to which the initiative could be successful. Survey findings may be socialised with leaders to derive subsequent strategies to tackle the issues.
Surveys do not need to be long and exhaustive. A common digital practice for applications is short, and sharp pulse ratings that only have a few items. Having frequent pulse surveys also helps to assess the development of the issues at hand and to what extent employee sentiments are as anticipated.
You know the drill …. having been around the blocks and worked on many projects you’ve seen these many times over. Change managers often go through similar experiences as we progress through each phase of the project.
What has been your experiences across the various project that you’ve worked on? What are some of these typical ‘defining moments’ for change managers?
These are 10 signs that you’ve been around long enough to see as a change manager 🙂
1. The project brings you in after the project approach has already been set and you are supposed to ‘fix’ bad stakeholder engagement
2. Your project team and/or stakeholders give you funny looks when you start talking about change activities other than comms and training
3. You constantly feel like you’re the go-between with the project and the difficult stakeholders
4. You dread having to manually fill in rows and rows of xls data about who’s who in your stakeholder matrix and detailed change impact assessment
5. Corporate comms persistently changes most of the messages you’ve written for project comms and you just want to tear your hair out because the content becomes incorrect
6. You sit in project update meetings where everyone goes through data points such as defects and performance updates, and you feel inadequate not using hard data all the time, or you get skipped entirely in the round-robin
7. You feel that you’re often the ‘dumming down’ translator who needs to constantly translate project messages for 5-year-olds otherwise you get confused responses
8. You find it a struggle to get time with your project sponsor, and he/she ends up delegating meeting attendance most of the time. You wonder why they’re the sponsor in the first place
9. You suddenly find out that there are other project changes that impact your stakeholders very late in the picture and it’s a scramble to ensure your project remains the key focus
10. You have nightmares about dealing with a difficult stakeholder who is showing all the signs of resistance and is blocking everything you’ve planned
What are the different approaches in deriving a single view of change? And what business impact do they have?
A single view of change is often mentioned as the ‘nirvana’ for change practitioners. Having a clear view of all changes impacting people helps to better plan and execute on the changes.
In our experience there are 3 key approaches:
1) ‘Estimate the pulse’ – A quick and easy way of coming up with a simple heatmap or chart where impacts are estimated overall.
2) ”Periodic pulse checking’ – Periodic work, usually monthly, in documenting change impacts. Some governance and reporting operating rhythms setup. Some element of charting tools used.
3) ‘Hand on the pulse’ – An operating system where the data capture and analysis is embedded within regular business process. Data is utilised by various parts of governance and business planning routines. Fully digital in sustaining data maturity and insight generation.
Organisations may start out in the first or second approach in building on their change maturity and ability to generate change-related insights.
However, to reap the required business impact and to support an agile organisation where change is fast and constant, the first approach is best.
