The biggest reason turns out to be Fatigue, how are you dealing with it?
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To Start, fatigue from continuous change is a top reason why more than 70 percent of Business Transformations fail. According to Everest Grou, a whopping 73 percent of enterprises failed to provide any business value whatsoever from their transformation efforts. Forbes claims the number to be 84%. So no good news there.
Why Transformation Efforts Fail
In today’s day and age, everything is a priority. Every morning there is a new set of ‘must does’ that your boss came up with at 2 am last night. Somehow you’re expected to add these responsibilities into an ever-growing, and frankly unrealistic, list of to-dos.
With COVID-19, comes new customer behaviors, service preferences, virtual everything, staffing reductions, and uncertainty around the future of my job. Will I be next on the chopping block or the hospital bed?
Overburdened People = Change Failure
Here’s a thought experiment, working with leaders today is 50% about getting their organization reset for the ‘new normal’; it is 50% about helping them understand the strain people are under to get the job done; and another 50% about putting in place a ‘new organization’ that will grow and thrive in 2021. 50% + 50% + 50% = Too much work.
This is a massive amount of work for already stressed and overworked people. Add to this the need to support massive changes being thought up by those above you. This is the very definition of disruption!
How To Fix Transformation Failure
Here’s what to do, conduct a review of all underway and planned projects across the organization. This should be a simple and fast exercise involving critical thinking. If you can’t capture all the projects that you are investing in, there is a deeper issue at play. Fix that first.
To be clear, leadership needs to be up to date on ALL projects/investments and their status at any point in time. This ensures they have complete information when making decisions.
For example, say corporate needs to cut $10 million out of the budget because a large customer contract was just lost because you failed to create the degree of differentiation to keep your competition at bay. Should you cut out the computer upgrade or repaving the corporate parking lot? Without information, the computer upgrade will probably be chopped.
With that said, let’s assume you can put your fingers on a complete inventory of all projects. At that point, determine how each project contributes to achieving strategic goals. Those that contribute the most NEED to be put first. Draw a line between the topmost contributing projects and the least most contributing project. Which of the ones in the bottom half are necessary given the ones on the top of your listed priorities.
To summarize, this is not rocket science. Unfortunately, in the vast majority of organizations that I have either worked in or consulted for, there is no ‘complete inventory of all projects. No clear and undisputed definition of how each project contributes to the organization’s strategic success. This is a great place to start. You might be surprised what you learn, this could impact how future decisions are made.
Success principles are like any other discipline, a mindset. A mindset that is taught by experts. People who have walked the path before you and have implemented successful change.
Here’s a tip, success is available to anyone willing to do the research and find out the right way to achieve their goals. We’re here to help you on your road to success. Check out our free courses for more.
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We offer tools and resources to help transform your organization and career on your journey to success. It’s time to take change head-on rather than waiting around, scared or uncertain for your organization and future. You cannot live in fear. Your organization needs your help right now and will greatly reward this kind of thinking.
Please add your thoughts to this blog, or better yet just contact us and we can explore this further to ensure that the investments you are ALREADY making drive your strategy.