Change management is no longer a quirky concept little understood by senior executives; it has now become a mainstream part of most transformation programmes. And transformation programmes are fast becoming success stories, having been notorious for their failure rates in the past.
A global survey by Booz & Company of senior executives who led major transformation programmes in large organisations (with more than 5000 employees) has found that change management work streams are now implemented in 82% of cases, with the same proportion declaring the programmes as having had a positive impact on business performance (82%).
However, most companies say that, with hindsight, they could have done better. Respondents wished they had implemented all of their people initiatives more fully and earlier on in the programme.