August 4, 2020
2 min read
How do you make sure that your change initiatives gain grip throughout your organization and meet the expectations of shareholders, customers, employees, and partners?
While change is on the lips of more and more leaders every day, the effective success rate of change initiatives is not only low. Asking Bain & Company, it’s only 12% of companies that launch major change initiatives that fully achieve their goals. There is no doubt that there are big opportunities in capitalizing on transformational growth in times of change. But how do you make sure that your change initiatives gain grip throughout your organization and meet the expectations of shareholders, customers, employees, and partners?
“Only 12% of companies that launch major change initiatives fully achieve their goals.”
A while back, Bain & Company released the report; Busting Three Common Myths of Change Management. The report dives into some of the main pitfalls of change management – but more interestingly, some of the factors that helped successful companies outperform the rest.
To avoid some of the many pitfalls a transformational process has to offer; it’s crucial to get the commitment from all of a company’s stakeholders. To do so, your transformation should be built like a movement – you have to inspire your people to join you on your transformational journey and build commitment throughout and around your organization.
“If you want to build a ship, don’t drum up the men to gather wood, divide the work, and give orders. Instead, teach them to yearn for the vast and endless sea”
Change is hard – the numbers speak for themselves – but it’s easier if all stakeholders affected by the change know why and where you are heading with your change initiative. A tool to guide a transformational process and secure a broad commitment is using your brand as a tool to visualize the future scenario you are aiming towards. Not only will it help navigate the process, but it will also enable you to mature the market with concrete scenarios and ideas and help you reach a faster vision/market fit.
Cecilie Lund Madsen
Cecilie is responsible for strategic direction and client relationships at Plateau. Cecilie has a unique ability to see the big picture in everything she does...