Changing a slug changes the page’s URL, which makes it a migration event, not a cosmetic edit, and even when you do it correctly you should expect some temporary volatility. The old URL stops being the address, so you must put a 301 redirect from the old slug to the new one to pass the page’s accumulated signals forward. After that redirect is in place, the page still has to be re-crawled at the new address, have its signals reconnected, and settle, and during that window rankings can wobble before they recover. A slug edit looks small in the CMS, but to a search engine it is a move.
The mechanism is straightforward once you see the URL as an identity. Search engines have indexed the page under its old URL and attached everything they know about it, its relevance, its links, its history, to that address. Rename the slug and the old address no longer resolves to live content, which means without a redirect the engine hits a dead end and the equity tied to the old URL is stranded. The 301 is what tells the engine the page moved here, follow the value over. Skip it and you can lose rankings outright.
Even with the redirect done right, the change is not instant or free. The engine has to discover the new URL, crawl it, process the redirect, and transfer the signals, and that takes time. While it happens, the page may slip or fluctuate in the results because the engine is mid-reconciliation. This settling period is normal and usually resolves, but it is real, and it is why a slug change carries cost even in the best case.
That cost is the reason to change a slug only when there is a genuine reason, like a slug that is misleading, broken, or actively hurting clarity. Cosmetic improvements rarely justify a migration and its settling window. If the existing slug is merely imperfect, leaving it alone is often the better call.
When you must change a slug, set up a 301 from the old URL to the new one before or as you publish, update internal links to point at the new URL, expect a settling period, and only do it when the improvement is worth the disruption.