If you think change is expensive, how about failed change?
Instead, how about Focusing Change to Win?
The Cost of Failed Change
Failed change means lost opportunity, competitive vulnerability, poor revenues, lost employees, increased cynicism and fear. Its residue is a hostile and toxic culture, where change resistance becomes the norm.
So, why is this survey important?
Change management’s track record isn’t getting any better and, isn’t likely to, if we don’t do different things. Who says?
- Change failure rates continue above 60%
- Surveyed executives still say people are the main reason for failed change
- World economics are negatively impacting working and commercial relationships
- Technology continues to deliver faster, opportunity-rich and competitively challenging solutions that often impact jobs and working relationships.
Change management was never easy, and now is even more challenging. Unfortunately, any consensus on the causes and solutions of failed change remain elusive. Yet, some organizations do manage successful change. This puzzle is what motivated this study and led to this question and our survey:
What are the meaningful differences between those that thrive on change and those that just survive?
After analyzing over 6000 contributor comments, there are clearly those that understand this condition and those who do not. They realize that working relationships are increasingly stressed in the drive for ever faster responses to competitive threats and opportunities. Unfortunately, this survey confirms other studies. Too many organizations are still trying to do things differently not do different things. In a recent study:
“96% of leaders say their current business models are misaligned with emergent realities, unforeseen challenges and changing priorities. Two-thirds say “extensive changes” are required. Yet they also confess they don’t know how to go about fixing what’s no longer delivering sustainable competitive advantage”