I received a call from the chief transformation officer of a midsize financial services company. Their company-wide change effort to shift from a product company to a services company was in shambles after being underway for nearly two years. “We thought we’d done everything we needed to do to keep this transformation from derailing,” he told me. “We communicated relentlessly, held virtual town halls to engage people, and resourced dozens of initiatives to support the vision for change. But we’ve ended up with nothing but hamsters running on wheels. We’ve made no measurable progress, cynicism is setting in as people are mired in activities that feel futile, and we’ve long lost sight of the vision for why we started this journey in the first place.”
Our in-depth diagnostic revealed derailers I’ve seen ensnare change efforts for decades, no matter how well intended the efforts were. Leaders frequently underestimate the amount of work required for the change, overestimate the organization’s capacity to make the change, and misjudge how the organization views their connection to the change.
Source: HBR 30 Apr, 21
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