Presented By:

Shilpa Taneja

Rucha Pundle

Anaswara K.R.

Ranjani Ramanujam

Ambili Prabhakaran

Changes by a Change Maestro

Retired IAS and former Chairman, SEBI, IDBI and UTI.

Served as Joint Secretary in the banking division of the Ministry of Finance.

 Chairman of SEBI from 2005-2008.Assignments with the RBI where he

earned the reputation of scripting the turnaround of three banks – Union Bank of India, Indian Bank and UCO Bank.

Re-energized the future of two giant companies – UTI and IDBI.

Currently, Chairman of IIM Trichy.

M. Damodaran - a Change Maestro

Eleven dominant themes that emerged in the way he transformed both UTI and IDBI are:

Seamless CommunicationScripting the VisionOpennessEmpowermentTalent ManagementRecognitionEthical GovernancePromoting InnovationSpeedy Decision-MakingPerformance OrientationRestructuring and Role Clarification

Strategies for Communicating Change

Factors determining change communication process

>STYLE- commanding, logical ,inspirational and supportive

>CONVERAGE-How much to communicate? Confidentiality Vs. Openness

>SOURCE-Who should communicate the change?

>CHANNEL- Through which channel do we communicate the style- In-person or static medium or somewhere in between

>TIMING- When should I communicate the change? Proactively before the change process or After I see disturbance among employees?

What type of CHANGE

>Task focused transition- short term task

>Developmental transition- Involvement of all of the employees

>Charismatic transition-emotional appeal

>Turn Around transition- Organizational crisis

The Spray and Pray StrategyThe Tell and Sell StrategyThe Underscore and Explore StrategyThe Identify and reply StrategyThe withhold and uphold strategy Mr. Damodaran has used the supportive and

inspirational style during the turn-around organizational transition, and the Underscore and Explore Strategy by not only showing openness in the change process but also letting employees create the organization mission and make de-centralized decisions.

Strategies for Communicating Change

•Transparency

•Management of stakeholders.

Relationship to Communication

Skill as Director/CEO

•Deal with people

•Issue Selling

Communication skills for

engaging others in change process

•Seamless Communication

Change Conversational

Skills

Skills for Communicating Change

•Restructuring and Role Clarification

Redesign Roles

•Recognition•Performance Orientation

Redesign Reward System

•Talent ManagementLink Selection Decisions to

Change Objectives

Encourage “Voluntary Acts of

Initiative”

Consolidating Change For a change to “stick”, it must become the new normality or “baked into the organization

• Empowerment• Promoting Innovation

Thank you!