Change: Researched and Resourced

Kay BeneshChange: researched and resourced

“Hope is not a strategy for change.”

These words come from Kay (Jarzyna) Benesh, B.B.A.’81, senior audit partner at Deloitte & Touche LLP. Leading the global audit succession and deployment area for Deloitte and managing several large clients in the energy and utilities sector, Benesh has long been a member of the change leadership team at the firm.

“Though we can feel emotions regarding change, and we need emotional intelligence to do many parts of our jobs effectively, change requires an analytical approach using data and facts to build a new model,” says Benesh. “It can be emotionally hard to change, but that’s not a valid reason not to change. The best decision making takes place when we look at the business case for a given change.”

Here are some best practices in change management that Benesh and Deloitte employ to ensure that the process is fully vetted, rigorous and based in fact.

• Start with data and analysis that shows, rather than tells, why the change is a sound move.

• Properly research and resource change. Not having the requisite human and financial resources is one of the key reasons that change initiatives fail.

• Provide learning opportunities and training that allows employees to practice the change they will be leading. If you are able to involve leaders in a hands-on way such as being involved in the governance of new initiatives, do so.

• Minimize the unknown; in fact, aim for no surprises. Having a plan that all parties articulate and execute helps lessen the emotional hurdles that some may feel with change.

• Realize advantages of a change may need to be communicated differently to various stakeholders to achieve the greatest buy-in. For executive-level leadership, a competitive advantage for key clients, greater profit margins or the ability to save time might be compelling messages. For younger employees, it might be engaging with a valuable new technology and building new capabilities.

• Test your change and tweak it. Piloting change is extremely valuable and allows for smooth transitions later.

Benesh’s guiding principle is to keep her focus on what is fundamental to Deloitte’s business: clients. “They are why we do what we do, so serving them with any change and testing in light of what will be best for them is vital.”

One of Benesh’s current change projects involves looking at what the audit of the future will look like, projecting out five to eight years. “We are looking at questions such as how employees will work in the future, where they will work, how working remotely will factor in, what tools will be available to them, and what skills and capabilities will be required. We are working very diligently to embrace innovation and analytics. Being futurist in our thinking will allow us to continue to serve clients well and be at the forefront.”

The thing that has been the greatest opportunity for the accounting profession is also the greatest challenge: technology. “Our clients’ businesses are changing so rapidly that our business changes continually to anticipate their needs,” says Benesh. “For example, in terms of audits today, we are able to get many data flows automatically from our clients, or we are able to profile certain areas of their business and risk-assess what we need to see in terms of documentation.”

Benesh notes that technology is something to consider longer term as well. “Could we look at a future where some traditional firm functions are completely automated at some point? Yes. Could the government prepare tax returns in the future based on the data available? Possibly. That’s why it is important for us to look unflinchingly at the future and analyze the landscape and how it keeps reframing itself.”