So we took a closer look at the different stages of a transformation’s life cycle to understand where value is lost and what companies can do to preserve it.
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Less than one-third of respondents-all of whom had been part of a transformation in the past five years-say their companies’ transformations have been successful at both improving organizational performance and sustaining those improvements over time.īut even companies with successful transformations don’t always capture the full financial benefits of these efforts. While we’ve known for years that a comprehensive approach to organizational transformation is more conducive to lasting change, the average success rate has remained persistently low. Yet success remains the exception, not the rule. Kotter, A Sense of Urgency, Boston, MA: Harvard Business Press, 2008). Kotter, Leading Change, Boston, MA: Harvard Business Review Press, 1996) and “the same appalling 70 percent figure” for change failure (John P. Kotter has reported on similar odds for success: “More than 70 percent of needed change either fails to be launched … to be completed” (John P. To adjust for differences in response rates, the data are weighted by the contribution of each respondent’s nation to global GDP. All participants have been part of a transformation in the past five years, at either their current organization or a previous one. The online survey was in the field from May 18 to June 29, 2021, and garnered responses from 1,034 participants representing the full range of regions, industries, company sizes, functional specialties, and tenures. The results from our latest McKinsey Global Survey confirm an enduring truth: the more transformation actions a company takes, the greater its chances for success. After 15 years of original McKinsey research on organizational transformations, 1įor our most recently published research on transformations, see “The people power of transformations,” Febru“How to beat the transformation odds,” Apand “What successful transformations share,” March 1, 2010.
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