A fast pace organization is going through a transformation phase. Share the first 5 initiatives you will take while being part of HR team & Why?

1.
Hold regular Management-Employee meetings to discuss the current goals of the organization and required action to be taken.2.
Review existing systems/processes and redesign them based on the organizational goals with inputs from employees across the organization.3.
Review team structures and job profiles to ensure that all employees are unitedly and efficiently working towards the organizational goals.4.
Review Hr policies and succession plans to ensure better working environments, more engagement activities and career paths for employees.5.
Maintain transparent communication and keep employees involved in all activities

Amal's answer is right on target :) Well answered! Keeping employees involved and informed is critical for any kind of change in the organization, regardless of the industry.
The only thing I would add is creating a "Change Management Team" to ensure that all initiatives/ changes are as planned, progress is monitored and that all involved parties are kept in the loop.

I agree with Amal's & Shonha's inputs, but I would like to add another point that is very essential requirement to steer any change; "Get the management support".
You need to get the top management support for your changing plan as most probably you will meet those who resist the change; their support will help you and will strengthen your position as leader of the change.

Communicating not only the coming changes but also the reasons to make it easier to understandeven though change resistance exists.
The disengaged workforse is bad, because changes usually will make the situation worse.
The most important thing right after the change is inplemented is to start working on building comprehensive wellbeing at work to be the basis for the business.
People who are taken care starting from the strategy and values perform better, become engaged, will stay longer at ther work.
If you need help, im a consultant in that field.

Hello Farhan,  When an organization is going through a TRANSFORMATION PHASE, HR will play a key role in SMOOTH FACILITATING the process. 
The top5 initiative may be: (1)Communication, to all the concerned, through official channels (2)Invite feed-back, to study the impact of such transformation, w.r.t.
short-term vis-a-vis long-term duration (3)Brace oneself for any UNEXPECTED EVENTUALITY, favourable or unfavourable (4)Project contingency plans for teaming, re-teaming, training, seminars, etc (5)Conduct mind-reading MEETINGS of the relevant members, and, submit STRONG MIS to the management

Amal's answer almost covers everything. Just want to add that in a transformation stage, often the top management ( I mean the owners level) often assume that they know everything and know the solutions that the business needs, and sometimes goes on a directive mode.

HR needs to communicate transparently. Frequent open-house kind of sessions are necessary where the top management openly field questions. If the employees feel that the management has an agenda that they aren't communicating, it will be disastrous. Frequent updates on what the company is upto needs to be sent.

Those who spread negativity must be tackled one-on-one, and firmly. If they align then fine, or they will need to be removed from the picture. Such people will spread the wrong messages that can vitiate the atmosphere.

It's an opportunity to restructure the business and strengthen the processes. Non-value adding procedures and processes need to be done away with.