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

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!

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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.