An Investigation into Resistance to Change in an Agile Financial Institution

Abstract

Aim: With the growth of agile management sweeping the financial sector, organisations are undergoing transformational change to become more resilient and undergo agile management. However, notably organisations that implement change often encounter employee resistance. The aim of the research is to critically analyse resistance to change and how this is managed by management in a financial organisation applying an agile strategy. Methodological Design: The study conforms to a qualitative research method in order to gain a deeper understanding of employee perspectives when transitioning through change. The study focuses on a financial institution that is implementing agile management by creating a new streamlined multi-skilled workforce. The original workforce is moving from Edinburgh to Manchester by summer 2019. 8 participants completed the survey, 6 employees and 2 managers, all of which are based in Edinburgh and due to find new roles in different business areas. Findings: The findings from the data analysis provide mixed perceptions of resistance to change indicators. Generational differences transpire through the data, suggesting baby boomers are less likely to resist change. Following this, the main cause of resistance identified was; lack of support, dishonesty in management and little opportunity for feedback or discussion. Management appear to demonstrate some form of leadership ability however, do not capture employees’ values or needs. Therefore, management could invest more time and resources into identifying employee’s motivations to resist the new changes.