COVID-19: Are You Ready to Transform?
When a company launches a large-scale transformation, leaders can feel as though they’re flying blind. Are their teams ready for a transformation? Are the right elements for success in place? How should they define change readiness, and what specific actions will deliver the greatest business value?
Understanding an organization’s readiness for change is the fundamental building block for all successful transformations. companies must systematically assess the preparedness of leaders, employees, and the transformation program. Complicating things further, the definition of readiness will vary for each phase of the transformation: the preparation necessary for the goals and commitment phase is different than that for implementation, for example.
With so many moving parts, it’s no wonder that a business transformation is a complex and often chaotic endeavor. Companies need to understand the areas where they are fully prepared, partially prepared, or flat-out unprepared. For that, it’s essential to conduct a systematic assessment of change readiness backed by strong analytics.
And it is worth the effort. The transformation success rate for companies that effectively manage the leader, employee, and program journeys is nearly twice that of their peers. Given that 75% of transformations fail to deliver envisioned results, companies have much to gain by flipping the odds in their favor.
Prepare for change at three levels: How will we prepare leaders to drive change? How will we engage and empower employees? How will we manage the program to maximize impact?
To read the full BCG article, please click here.