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Many believe that organizations have to continually reinvent themselves in order to keep up with all that is changing around them. They point to the fact that those who cling to the status quo eventually die or are acquired by those who don’t, and they often – quite proudly – point to themselves as the poster child of what effective organizational change looks like.
All is not what it seems, however.
The truth is that whether organizations …

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Home » Change Leadership, Research & Studies, Change Management Tools

Don’t be a Statistic

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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

YET…

  • 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!


References:
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.

 

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Jesse Jacoby
The Editor of Emergent Journal and founder of Emergent, Jesse is a recognized expert in business transformation. He and his team partner with Fortune 500 and mid-market companies to deliver successful people and change strategies. Jesse is the creator of the Accelerating Change & Transformation (ACT) model and developer of Change Accelerator and Savvy Transition. Contact Jesse at 303-883-5941 or jesse@emergentconsultants.com.

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