Conversations on Change: A Case Study of a Swiss Private Bank on Employees’ Sensemaking and Engagement in Light of its Rebranding

Abstract: The rebranding of an organization can be a beneficial strategy to reposition itself in the market to maintain its relevance. At the same time however, it can have disrupting effects on its members' daily work life, creating a novel situation in which perplexity and even resistance may arise, and which they need to make sense of. The aim of this qualitative study is to provide insights into sensemaking processes and its potential implications on employee engagement during the organizational change of a rebranding in the sector of private banking. Through semi-structured interviews with employees of a Swiss private bank, this study explores employees' sensemaking processes upon a rebranding, as well as dominant narratives during that period. Those narratives take part in building the bank’s culture and are identified as potential drivers of employee engagement. This study adds to the current research body by proposing a four-step circular model of organizational sensemaking, and its insights that informal conversations with external stakeholders are not only a central part of sensemaking, but are also identified as a potential driver of employee engagement: Such conversations create a sense of pride of representing an organization, and enhance motivation. Lastly, the findings suggest that actively engaging in storytelling rather than being a passive receiver is fruitful for sensemaking. Scholars are encouraged to continue exploring the implications of conversations between employees and external stakeholders during organizational change.