Westpac is a financial corporation company in Australia, that having headquartered in Sydney. Westpac is the oldest bank in Australia established in 1817 as bank of New South wales and started acquiring commercial bank of Australia in 1982. It is comes under top five banks in Australia and one of the largest in New Zealand. They gives broadened level of banking and money related relationship in the market that covers purchasers, business and institutional banking and bounty the board affiliations. In light of the digitalisation and progress, bank feasibility certainly decreased in 33 branches as customers changes their banking as more than 85% of trade done on the web. Data showed them from latest 5 years online bank trade is loosened up by 61% and device utilizes for web banking extended 33%, shows the instance of the market. Westpac stifled its laborers with the decision of closing 33 branches with less courses of action opportunity, this will directly affect various trained professionals. Connection ought to follow a down to earth change the board strategy to diminish the impact and think about an outline for everyone.

The report will tell us about the change management and the use of human resource during change management. After reading this report reader will be able to understand how change can be start or executed by using effective human resource policies, action plans, training and strategies. This report will also cover the effectiveness of communication and how it will help company to get stakeholders support.

A method and manner in which company define and execute change in their overall that is internal and external environment is called Change management. Change management needs to be very effective during any change to ensure that the proper process and procedure is followed to handle change process in the company as that will reduce the affect on stakeholders. Efficient human resource and communication medium is a key to success in change management to initiate the change by communicating the change clearly, effectively and consistently to everyone.

Change Management Strategy

Change is must if the organisation undertakes any new projects or initiatives to improve performance, address any issues. Change will be required in processes, profiles, company structure and change in technology. It is necessary to do change in the organisation to compete in the competitive world, but change is quite difficult if its related to the employees as company will face resistant from them. Scarcity is the main reason for this resistant, so it is important for company to provide sufficient amount of time for employees to gel up in their new role and responsibilities. Proper communication and initiative is must to gain stakeholders support before implementing any change otherwise change will upset all process in the organization and it will difficult to achieve target, handle staffs and manage day to day duties. Change Management is the solution of this problem, as it will ensure effective planning, analysis and execution of change will occur that minimize the disruption in the company. Westpac announcement of closing its 33 branches as they are not getting expected revenue from these branches, gave stress to their employees and develop job security issues in their mind.

What is Change Management?. (2021).

Effective Human resource policies, planning and strategies are crucial throughout the change management process. Human resources can initiate and execute the change in the organization by developing a communication channel between top management and employees. Human resources are capable for making efficient strategies such as:

Employees Engagement Strategy

Gaining stakeholder support is difficult as well as necessary steps to do any change in the company. Human resource play significant role here by building a employees engagement environment for Westpac that are planning to do big change in the company by closing 33 branches that create scarcity. Employees engagement is necessary as the more employees understand the necessity of change, more they will get involve in the change process. On the other hand, for company it is important to understand stakeholders requirement and concern to eliminates their job loss concern, as job provides them stability as well as financial security, confidence, and professional development.

Employee Engagement: Strategies, Models and Best Practices. (2021).

Training and Support Program

Human resource department provides various programs to support and train employees for the upcoming change in the organization. In the case of Westpac that is crucial when company is closing 33 branches. This closure will give new challenges to the employees that includes moving from one branch to another as shifting and merger will be there in Westpac. Proper training give them surety that they will have all necessary skills that require to fulfil the future needs of their job and company. Human resources department also ensures that proper communication channel is established between employees and seniors, as employees may need many training, seminars etc. Human resource will make sure that every employee will get appropriate training during this change to eliminate negative feelings or thinking in employees. Positive and inspiring environment in company can be achieve by human resources department by explaining and defining the new role and responsibilities to employees, as clear and transparent communication will develop stakeholder’s confidence on the system.

Skills Development & Training for Support Services - RTM Consulting. (2021).

Resistance Management

There is a situation where all employees related to these branches feeling stress and under pressure, there is a fear feeling inside them due to this closure 33 branches announcement. Human resource can play important role by providing a communication channel and strategies to reduce and eliminate fear from all employees. The closure of 33 branches is not small change in a company like Westpac, so regular communication throughout the process will require. Human resource department will make all employees understand that how this change will beneficial for company as well as employees and make overall change process easy.

Recommend Change Management Strategies

Change is required for Westpac to perform well in the competitive market, announcement of closing 33 braches can we drastically disruptive if not handle efficiently. There must be an define strategy in place to control overall change process positively in the favor of company and employees. Westpac should introduce emphatic change management strategies that covers everyone interest and help top management to feel how employees are feeling and make them able to assume the what will be the employee’s reaction for the change.

In addition to this company must have an ambassador who will help employees during the change process. Ambassador is a person who support change process, help management to drive the same forward, and have good image or influence on their peers. His role and responsibility is to lead the stakeholders towards supporting the change.

Employees satisfaction is important if company want to succeed in long run. Westpac also need to understand the importance of communication, post change engagement programs by introducing them in their strategies.

Communication Strategy (verbal, nonverbal and visual communication strategy)

Before executing any change in the organization Westpac needs to carefully consider its strategies and tools as communication is a key to success and it is most complex things as well as its include sharing of thoughts and feelings through effective and powerful communication channels. Company must select verbal, nonverbal and visual communication strategy to circulate the change information in between all stakeholders. It is crucial for company to communicate the change with their stakeholders on right time with precise information, because they are the one who will highly affected from the change. On the other hand, if they know about change on time, they will react positively and will be well prepared by taking appropriate training and counselling also make the change successful. Verbal communication such as word of mouth strategy can also be use by the Managers, Company top management can use nonverbal communication by sending emails and newsletter on company mail for all 33 branches to circulate the change. Change messages can also be displayed everywhere in the office premises of all 33 branches they can use banners, notes, Boucher’s on notice board etc. as these display messages will make them ready for the upcoming change in the company. Employees will have no fear from the change and will understand the change process, also they will feel safe and involve in the change.

As without stakeholders support it is near to impossible for Westpac to get success in this change. Moreover, company must ensure that everyone in that 33 branches will know the change objectives and behave emphatic and listen their ideas and feelings as well so they will get involve in the overall change process.

4 Types of Communication: Verbal, Non-verbal, Written, Visual. (2021).

On boarding (Organized and Excite strategy)

The process of introducing new or relocated staff to the system where their current role and responsibilities are different from previous one is called On boarding process. Human resource play significant role in on boarding process, as the make employees ready to join and move forward with their new role and responsibilities. In Westpac case human resource will help relocated staff to settle down and involve in change process. In addition to this human resource identify and motivate employees to leave company or take retirement voluntary and pay them good money or incentives.

Relocated employees need motivation and inspiration to cop up with their new role and responsibilities. Westpac must have welcome strategy for relocated employees so they will have feelings that company is excited to have them on board. Human resource will ensure that all employees are equipped with proper training is crucial, as that will help them to perform their job effectively.

5 Strategies for an Effective Emplo yee Onboarding Process. (2021), Effective Employee Onboarding Strategies. (2021).

Post-Change engagement

Post change engagement is also called Refreeze the change management, this is ready to move stage to achieve the stability in the company. Employees engagement is must in Westpac situation, so company needs to make appropriate strategy for employee’s involvement in peer and company learning to make the capable to perform their new jobs and responsibility effectively. Double loop strategy will be fit for Westpac where stakeholders can also think deeply about their assumption and beliefs. Regular appraisal, feedback, incentives and rewards are key to success here in Westpac situation as that strategy will boost employee’s motivation and increase their trust on new change in the company and make the change successful.

Devise Action Plan Implementation

Company must have action plan to elaborate their action plan that they will implement in the company to achieve their mission and vision statement. In the action plan company also tell about the necessary steps involved to get success. Similar way Westpac must have defined action plan for the company, as they already have change management and strategies in place. Company after analysing their policies and roles of everyone in the process can also think about their action to execute and implement the same in company.

Action plan must be effective that covers and target the appropriate stakeholders or targeted audience tailored with the company strategies. Regular monitoring and analysis is required for the action plan and update it whenever any change occur in the company. Westpac also ensure that the action plan they are going to use for the change have all metrics and measurement, it is crucial to evaluate the efficiency and sustainability of the action plan before implementing. Smith, C. (2021).

Action Plan-Communication:

Westpac action plan for communication must be clear and precise, they can use two strategies to communicate with their stakeholders that’s is their employees for the major upcoming change in the company closer of 33 branches that will affect many lives. With their effective action plan company will be able to make them understand the requirement for change and about the seriousness of the change for the company and for its employees. The plan will also covers all fears and insecurities that may arise in between employees after announcement with the solutions, so they will feel relax and stress free and also involve in the change process. Company can use two methods for communication:

1) Formal communication

2) Informal communication

1)Formal Communication

Meetings:

Meetings can be used effectively by change managers of the company as it most common way to communicate the change, as it covers wide range of stakeholders in company. Company managers can utilise and maximise every minutes spent in the meetings. During meeting Westpac can easily communicate the upcoming change or change process, their strategies, procedure, polices. Managers must include the structural changes that will happen in the change and discuss their plan with the stakeholders to overcome any doubts. Company must ensure that the meeting will conduct in a good environment where two way communication will occurs.

Email/Posters/Newsletter

Company Email system is also a way that top management can use for communication. They can circulate email that explain the change and its requirements. They can also use posters and newsletter strategy to communicate the change. This strategy is based on one-way communication as when message is sent there will be no acknowledgement from employees means there is a chance that message was not read by all or also have chance to misunderstood and mislead because of mail. Feedback is a way to do two-way communication and it will also be strengthening the change messages.

Video Conference Calls

Technology can be used to communicate the change as that will save cost for the company and cover wide range of stakeholders. In the case of Westpac change manager and human resource can use this tool effectively to communicate the change with the employees of 33 branches remotely. Communication will be two-way communication as they can see each and listen each other’s.

2. Informal Communication

Meeting at Lunch

Communication will be easier if its informal, so company can arrange lunch meeting or drink meeting after office hours, as this environment will be good to connect, getting feedback from employees, and show company’s empathy for the employees will have impact because of the change and ensure them that company will help them throughout the change process.

Events

Company can also plan or organise events such as sports event to connect with the stakeholders and collect their feedback, their feelings on the change. Also a brainstorming session in the sport event will provide effective idea to perform the change. As employees from all branches will be participate in the event and have interaction that will make relocation of employees during change easier.

ANON (2021).

On boarding Action Plan

On boarding is a human resource term refer to a process of introducing new or relocated employee in the company. On boarding is also known as organisational socialization that will help employees to understand their new role and responsibilities. Westpac must have on boarding action plan in place to feel all relocated employees that they are valuable for company, as effective on boarding action plan enhance employee’s engagement, overall productivity of the employees, and their performance.

Westpac action plan will have these in their On Boarding Strategy:

· Welcome Strategy employees get to gather is important in the company for all relocated employees, human resource department will arrange the same. They will also use company email system for introduction mail in regards to each and every employees on boarding with all information, department of joining, and also a photo prior to the joining of employees. This process or strategy will be helpful as current employees will know more about the relocated employees and new employees will also feel comfortable on their first day itself.

· Mentor Program: Westpac will also provide mentorship for all relocated employees from 33 branches, that will be helpful for them to understand the overall process of their new branches and company expectation from them on their new role and responsibilities.

· Feedback: Managers will be the personal who will take care or arrange face to face meetings where they will understand the concern of relocated employees, moreover they will also collect their feedback on the management policies and planning in the overall relocation process that will help company and also employees to perform better.

The Essential Onboarding Process & Plan | SmartRecruiters. (2021).

Post-Engagement Action Plan

Company must have post engagement plan in place for the relocated employees. Westpac must ensure that their post engagement plan is effective as this will boost the performance of all relocated employees. Company will:

Ensure Proper Training

Westpac will ensure that all relocated employees will get proper rotational training every week to equip them will skills that is crucial to fulfil the requirement of their current role and responsibilities. Human resource will track their training hours and everyone have to finish month training hours.

Ensure Reward and Pay Rise

Westpac will ensure that each employees will feel comfortable whoever affected by this change, a hike in pay rate or rewards will work as an appreciation and they will understand that company have empathy with them and have feelings for their employees. This will create a positive environment in company.

Ensure to give Parental money

Westpac will ensure that all employees will get parental money who decided to leave the company voluntary during the change process and refuse to relocate. Parental money will make sure that they will keep all secret of the Westpac with them.

Ryba, K. (2021).

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CHANGE MANAGEMENT IN WESTPAC : Closes 33 Branches