Seventy per cent of all changes in organisations fail. Before managers and leaders start leading change in their organisations they should first understand what change is all about and its effects on employees. The significance of change is crucial as the pace of change in the digital age is accelerating and that is why change has become part of the definition of leadership and management, all management is change management.

If sales need to be increased, that is change management. If a merger needs to be implemented, that is change management. If new software is be introduced, that is change management.  Costs reduction? Productivity improvement? That is change management.

We are living in a VUCA world, meaning it is Volatile, Uncertain, Complex and Ambiguous. In today's fast-paced, interconnected world, change and transformation is a constant companion. From technological advancements and shifting societal norms to environmental challenges and economic fluctuations, change is present, often leaving individuals and organisations with little choice but to adapt or face obsolescence. Understanding and effectively leading change is an imperative for success and resilience in the digital age.

Change comes in various forms and from multiple sources, making it a multifaceted challenge. Technology, for instance, is a major driver of change, e.g. digital transformation. It continuously reshapes industries and demands an adaptable workforce. This relentless march of innovation necessitates not just understanding new technologies but also guiding their integration into daily life, businesses and society.

Society itself undergoes transformation through changing demographics, cultural shifts and evolving norms. Being aware of these dynamics and taking a leadership role in ensuring inclusion, diversity and equity has become an essential part of modern leadership.

Environmental changes, including climate issues and resource scarcity, pose an existential threat that must be addressed through sustainable practices. Economically, globalisation and economic crises call for an understanding of international markets and financial strategies.

Understanding change begins with awareness and comprehension. The ability to anticipate and interpret trends and disruptions is crucial. Businesses, for example, must be agile enough to act when market conditions shift. Leaders who grasp these shifts can strategically position their organisations to thrive, even in turbulent times.

Understanding change also entails recognising the emotional and psychological aspects of transformation. People often resist change due to fear, uncertainty or the disruption it brings. A change leader needs empathy and emotional intelligence to help others navigate this turbulent terrain. Stress caused by change may have many physical and mental symptoms that can hurt your employees' overall well-being if they are not able to manage them in a positive way, such as: headaches, trouble sleeping or insomnia, digestive problems and stomach aches.

Leading people through change is important to help ease worries, encourage communication and address uncertainty. Periods of change can be stressful for an organisation, but strong, empathetic leadership can help businesses move through these transitions successfully. Leaders have a choice to spread positivity or negativity during a challenging time, leading employees to display a hopeful view of change or an anxious view.

Change management is a systematic approach that includes dealing with the transition or transformation of organisational goals, core values, processes or technologies. The purpose of every organisational change management initiative is to successfully implement strategies and methods for effecting change. But it does not stop there, it is crucial to support people to accept and adapt to change.

Leading change means taking a proactive role in guiding individuals, organisations and society through transformation. Successful change leaders exhibit a number of key traits:

• Vision: Having a clear and compelling vision of the future is crucial. Leaders need to inspire others with a sense of purpose and direction.
• Communication: Effective communication is of utmost importance in change management. Leaders must articulate the reasons for change, the benefits and the roadmap for implementation.
• Empowerment: Empowering others to contribute to the change process fosters engagement and ownership. This often involves delegating responsibilities and encouraging innovation.
• Adaptability: Flexibility is the key. Change leaders should be willing to adjust their strategies as circumstances evolve.
• Resilience: Change often comes with setbacks. Resilience is vital for leaders to persevere in the face of adversity.
• Inclusivity: Ensuring that all stakeholders are heard and their concerns addressed is essential for building trust and support.

The ability to understand and lead change is not limited to executives and managers. It is a skill set that can empower individuals at all levels. In an era where agility, innovation and adaptability are rewarded, it is not an overstatement to say that the future belongs to those who can embrace and lead change effectively. Failure to do so can result in stagnation, missed opportunities and even obsolescence. Whether it is in the boardroom, the classroom or the community, those who possess these skills will be better equipped to navigate the uncharted waters of an ever-changing world.

Understanding and leading change is not just a management theory or a buzzword; it is a fundamental skill for survival and prosperity in today's dynamic world. The ability to embrace change with a clear vision, empathy and resilience is what will set individuals and organisations apart as they chart their course in an uncertain future.

As Charles Darwin, the famous British naturalist and biologist, once stated after completing his studies of the different species of animals, "It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change". We today apply this powerful statement to organisations and their employees about the importance of adapting to change and transformation.

Konrad Cassar Naudi is an international training and management consultant and a member of the Harvard Business Review Advisory Council. Konrad supported leading global brands such as Volvo Cars Corporation, IKEA and Sonoco as a management consultant. He returned to Malta after over 35 years abroad occupying different management positions in the UK, France, Switzerland, Ireland and Sweden. He was also a lecturer and examiner at two universities in Sweden. He graduated in Digital Leadership from Boston University and Business Management at Glion Institute of Higher Education in Switzerland. His managerial and leadership experience includes initiating and implementing corporate changes and transformation.