Successful corporate transformations are hard to pull off. For CEOs and senior executives trying to lead and drive change initiatives within their companies, the odds of success appear to be stacked against them.Executive SummaryThe odds are stacked against businesses, including insurance carriers, achieving the goals of their change management programs. Here, consultants from Bain & Company, Boston Consulting Group and Gartner give the statistics and provide tips to increase your chances of success.
In the formative 1996 text “Leading Change,” research by then Harvard Business School Professor John P. Kotter revealed that only 30 percent of change programs succeed. More recent research throws up similarly daunting findings. For example, Bain & Company research has found that only 12 percent of companies that launch major change initiatives fully achieve their goals.