Despite the millions, sometimes billions, of dollars spent on change management programmes, most fail.
The success rate of major change initiatives is just 54 percent according to a 2013 Strategy&/Katzenbach Centre survey of global senior executives on culture and change management.
Wrongly executed change efforts are costly in financial, wasted resource, diminished morale and heightened cynicism terms. But there are, according to two US-based Strategy& researchers, 10 principles that change managers can adopt to enhance their chances of success.
The principles are designed to overcome the three main hurdles change management programmes must overcome. The three hurdles are “change fatigue”, the shortage of skills needed to sustain change over time, and, perhaps most important, the fact that most transformational efforts are planned and implemented in the C-suite with little input from lower levels of the enterprise. This third practice effectively filters out critically important information.
To pick up the 10 change principles go to: www.strategyandbusiness.com