Organizational Change Management and Performance in Insurance Industry in Nigeria
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Date
2016
Journal Title
Journal ISSN
Volume Title
Publisher
Faculty of Business and Social Sciences, Crawford University Igbesa, Ogun State
Abstract
Change has become a very important phenomenon in our day-to-day business
activities, people tend to resist change in order to maintain the statoscope, hence
the need to critically look into it and how it affects business performance. The study
is to determine the effects of organizational change on organizational performance
before and after the change process, and to assess the attitude of employees
towards change and lastly, identify ways to manage resistance to change in order to
achieve the desired organizational results. Primary and secondary data were used
for the survey. Primary data was collected using structured questionnaire, while
secondary data were collected from the archives of the company. The population for
the study was 343 employees of Staco Insurance Plc., and a sample of I17
employees was selected using the Slovin's formula. Analysis was done using
descriptive and inferential statistics. The result revealed that changes generally have
positive effects on performance judging from the three indices (finance F= 6.04. P<
0.026 df= 2, customer measures F=14.81, P< 0.07 df = 2. process measure F=4.34,p
<0.014 df=2. The result further revealed that workers attitude to change was
negative. It was also found out that how change idea is conceived and implemented
and cushion resistance will automatically have impact on the rate of success.
Results also showed that sources of resistance differ according to the scope of
change. The study therefore concluded that nothing stand still in the world of
business, as change is the only thing that is constant and managing a change
process is as important as change itself. It was recommended that organizations
should put in place a change transition committee saddled with the responsibilities
of carefully drawing out change plans and effectively implementing the change.
Change managers should also carefully manage the human side of change in order
to avoid resistance using the appropriate change strategies, thus, enhancing overall
performance of the organization.
Description
Keywords
Change Management, Performance, Insurance Industry
Citation
Akindele, I.T., Akindele, R.I. & Bello, E.A. (2016): Organizational change management and performance in insurance industries in Nigeria. Crawford Journal of Business and Social and Social Sciences. 6(2); 64-76, Published by Faculty of Business and Social Sciences, Crawford University Igbesa, Ogun State.