Leading Through Uncertainty

Adapting change management strategies during times of economic or political uncertainty

In the dynamic economic landscape of the Channel Islands, businesses often face periods of financial hardship and market volatility. For these small, open economies, reliance on specific sectors, external market shocks, and a limited internal market can amplify uncertainty. The constant pace and complexity of regulatory change, particularly in the financial and government sectors, further adds to this challenge.  

Successfully navigating these turbulent times isn't just about cutting costs; it's about strategically embracing organisational change, with a keen focus on digital transformation, to build robust resilience and promote long-term growth.  

As part of the BDO global network, BDO Jersey specialises in guiding sectors such as government, financial and professional services sectors, and more, through these critical transitions. We offer practical strategies for navigating change during times of economic or political uncertainty. 

By proactively applying proven models, businesses across the Channel Islands can systematically guide their teams through operational change. This approach transforms resistance into adoption and uncertainty into stability, providing essential change management strategies to thrive when markets experience volatility. 

Rebecca leading a consultation

As a Project Manager and Change Practitioner within BDO Jersey’s Advisory team, I deeply believe that embracing structured change management is critical for leading through uncertainty

Rebecca MarshManager, BDO Advisory

The People Aspect:  Fostering Behavioural Change and Organisational Resilience 

At the heart of any successful transformation, especially during challenging times, are people. Financial hardship can amplify anxiety and resistance to change. Therefore, a profound understanding of human behaviour and resilience is paramount. It’s not enough to simply introduce new digital tools; employees must be empowered and supported to adopt them. 

We often leverage Prosci's ‘ADKAR’ Model – a powerful framework for individual change – to guide people through these transitions:  

Awareness

Clearly explaining why change is necessary. For a Channel Islands firm, this means demonstrating how a new digital workflow platform addresses operational costs and competitiveness in volatile markets. 

Desire

Engaging employees by showing how the change will benefit them as individuals. For a utility company for example, this could involve showing how smart meter data leads to more efficient resource allocation and reduced pressure on staff. 

Knowledge

Providing targeted training on new systems. This means practical workshops on using new AI-driven CRMs or consolidated data dashboards.

Ability

Ensuring employees can actually do the new tasks. This includes coaching and hands-on practice, building confidence in using digital tools for complex tasks like regulatory reporting. 

Reinforcement

Celebrating successes and sustaining the new behaviours. Recognising teams adopting a new digital compliance tool, or sharing how AI improved customer service, helps embed the change and maintains momentum.  

By addressing each element of ‘ADKAR’, we help individuals move from understanding the need for change to actively participating in and sustaining it, directly contributing to organisational resilience, which is particularly important during periods of political and economic uncertainty

Change Models for Adoption:  A Strategic Roadmap to Stability

To drive collective behavioural shifts, we apply broader, proven change management models, adapting them as strategies for navigating change during times of economic or political uncertainty: 

Kotter's ‘8-Step Change’ Model provides a powerful framework for large-scale transformations. During periods of financial strain, the "Create Urgency" step is often inherent, but leaders must channel this constructively, perhaps by focusing on immediate efficiency gains from digitising processes. Building a "Powerful Coalition" unites key stakeholders to drive the digital agenda against volatile markets. "Creating Short-Term Wins," like a successful pilot of automated reconciliation, offers vital morale boosts and tangible proof of progress when every saving counts



Lewin's Change Model (‘Unfreeze-Change-Refreeze') offers a simplified, yet effective structure.  

"Unfreezing"

Prepares the organisation for change by highlighting current inefficiencies and showing how new digital solutions can offer a lifeline during economic uncertainty.  

"Changing"

Involves implementing new digital processes and behaviours with support.  

"Refreezing"

Ensures these new, more efficient digital ways of working become the norm, solidifying resilience for future challenges, such as integrating new data governance frameworks.


These models are powerful tools, but their successful application requires experienced expertise. Our BDO Jersey Transformation & Change consultants bring the expertise in applying these models to real-world scenarios. By proactively and expertly applying them, businesses across the Channel Islands can systematically guide their teams through significant operational shifts, transforming resistance into widespread adoption and uncertainty into demonstrable stability.  

Our team helps businesses across a range of sectors including financial and professional services, utilities and the public sector, build their own internal capacity for change, ensuring long-term partnership and sustained capability.  

These are not merely theoretical concepts; they are essential change management strategies for organisations aiming to not just survive but thrive, in volatile markets. Ultimately, these efforts build an organisation's inherent capability for continuous adaptation, futureproofing them against subsequent disruptions. 

My Perspective:  Driving Change with Effective Leadership 

As a Project Manager and Change Practitioner within BDO Jersey’s Advisory team, I deeply believe that embracing structured change management is critical for leading through uncertainty.  

This work directly aligns with BDO Jersey's core values, particularly our commitment to building trust and relationships through transparent communication, delivering exceptional client service by ensuring successful project adoption, and cultivating a people-first culture through effective behavioural change strategies.  

Our collective ability to nurture, adapt and be resilient through effective change leadership is critical for businesses to thrive, even during challenging times.


Rebecca and Ian collaborating

My experience has taught me that having strong collaborative instincts, compassion, and the ability to reach consensus are essential for championing change and navigating complex, people-driven transformations.  

Rebecca Marsh

Rebecca Marsh is a Project Manager and Change Practitioner within BDO Jersey’s Advisory team. With over 10-years of experience, Rebecca is an accredited APMG change management practitioner. She has previously worked with organisations across a range of sectors including financial services, public, third sector, and utilities  

Ready to Lead Your Organisation Through Uncertainty?

If your business is facing economic or political challenges and you’re looking for expert guidance on change management, digital transformation, or building organisational resilience, our team is here to help.

Get in touch today for a confidential discussion with our Transformation & Change specialists. Complete the form below and start your journey towards stability, adaptability, and growth.