Why Transformations Fail
Standing still is no longer an option. Any organisation seeking to survive, flourish, and lead in today’s globally competitive environment must be committed to continual improvement, transition or transformation.
The drivers for change are numerous and well documented. They range from increasing customer expectations, shareholder activism and shifting regulatory landscapes, to technological advancement and disruption, evolving workforce demographics and societal shifts defining new imperatives and responsibilities for businesses.
Today, it is not surprising that 80% of organisations are either transforming or plan to transform. Whether it is driving efficiency, managing costs, and innovating services through acquisitions, restructures or new ways of working, the one constant we see is the requirement to deliver value in return for the change investment that is being made.
However, recent global studies suggest upwards of 60% of organisational transformations fail, and latest research by FTI shows the costs of failure can be enormous – with around one-third of money invested in transformations wasted.
