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   Building a Change Management Core Competency As the accelerated pace of business mandates complex change, senior leaders often feel the pain of project failures, missed budgets and employee dissatisfaction. In a Standish Group study¹ of 13,522 IT projects, 66% were labeled as failed or challenged. A McKinsey study² reviewed major change programs at 40 organizations and found that 58% of the companies failed to meet their targets and 20% captured only a third or less of the value expected! McKinsey looked at 12 factors for successful change and found "…a strong correlation between 'percent of a project's value captured' and the 'level of change management effectiveness.'" It is no surprise that so many senior leaders are looking to build a change management competency—not just for a single project but as a core competency for their organization. The common questions we at LaMarsh & Associates hear are, "How do we get started?" and, "What should the building process look like?  ¹Standish Group “Chaos Chronicles”² “Helping employees embrace change,” by Jennifer LaClair and Ravi Rao, McKinsey Quarterly, 2002, Number 4 Next article >> Newsletter home page >> |
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