Don’t be a Statistic
THE IMPORTANCE OF ORGANIZATIONAL CHANGE MANAGEMENT IS CLEAR:
- More than 80% of CEOs say change management is a priority
- 80% of CEOs cite the ability to adapt to change as a source of competitive advantage
- Almost all CEOs expect that, over the next three years, their organizations’ need for change management will increase
- 25% of CEOs expect that their organization will launch a change management function in the next three years1
- Change literature regularly quotes failure rates of between 60% and 90%2
- McKinsey found that some two-thirds of all change initiatives failed3
- Bain and Co claim the failure rate is 70%4
- The failure rate rises to 90% for culture change initiatives5
CONCLUSION: Most organizational change is not managed well.
Don’t be a statistic!
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1) BearingPoint (2009) Building your internal change capability. Insight White Paper.
2) McKinsey & Company (2008) Creating Organizational Transformations. The McKinsey Quarterly, July, 1 – 7.
3) Burnes, B (2009) Managing Change (5th edition). FT/Prentice Hall: London.
4) Rogers, P; Meehan, P; and Tanner, S (2006) Building a winning culture. Bain & Company: Boston, MA, USA.
5) Senturia, T; Flees, L; and Maceda, M (2008) Leading change management requires sticking to the PLOT. Bain & Company: London.