Change is a difficult process, and statistics show that only 19% of transformations are completely successful. To ensure success, it is essential to have a select group of respected, influential and visible employees who become advocates and role models for the desired changes. Additionally, it is important to reinforce behaviors with meaningful rewards, continuous feedback, and appropriate consequences if you back down. Developing and communicating a well-defined strategy is also key, as it explains the approaches taken to change and the objectives that are being set.
Setting an overall financial goal for transformation is one of the most important measures, since it sets the tone for the entire program and what is possible. In addition to defining specific functions and identifying how employees can contribute most to the transformation, companies also need to move people from one place in the organization to another and even to remove them, albeit in moderation. ThoughtExchange incorporates anti-bias technology and multilingual features, so the most popular answers come first, regardless of who shared them. This can maximize the results of individual change initiatives and encourage long-term agility to manage ongoing changes in the future. We have identified some tactics that help to successfully drive transformative change and any large-scale change, such as moving from good to excellent performance, reducing costs or ending a crisis. Respondents from successful companies are more likely than others to say that CEOs and senior managers are visibly committed to transformation.
However, if the people responsible for executing the strategy are not aligned, change management will not be carried out uniformly across the organization. At the same time, the results suggest that even successful organizational transformations offer less than their full potential. After years of research and working with customers, we have found that John Kotter's statement that 70% of business transformation efforts are doomed to failure still holds true today. To ensure success in your transformational change efforts, it is important to have a select group of influential employees who become advocates for the desired changes. Additionally, you should develop a well-defined strategy, set an overall financial goal for transformation, move people from one place in the organization to another as needed, incorporate anti-bias technology into your initiatives, and ensure that those responsible for executing the strategy are aligned. It is also important to provide meaningful rewards for desired behaviors and continuous feedback throughout the process. Finally, it is essential to remember that even successful transformations may not reach their full potential.
Therefore, it is important to be aware of potential pitfalls and take steps to avoid them. By following these steps and taking a proactive approach to managing change, you can increase your chances of achieving your goals.