7 Shocking Facts About Change Management Illustrated By An ExpertMarch 14, 2019
While the change management initiatives can be extremely beneficial for any organization or company, fully implementing in the real world is quite a challenging endeavor. The scope of the problem can range from anywhere between internal staff management problems to gigantic ones, which were often responsible for a sea change in the market affecting the business in the process. Learning about such a complex subject can be hard enough, but learning to apply the theories and the lessons in the context of the world around us can be an altogether different affair.
It has been observed that the position for the management of changes and design often fall upon the shoulders of a business analyst. Whilst a business analyst’s job is related to keep an open eye, and constantly studying the market on a near constant basis. As it is wont to happen, sometimes an effort to withstand change might ultimately prove to be victorious, but there are some instances when the experts were just too late to save the day.
In the section given below, we shall be elaborating upon some shocking facts related to change management certification course itself; the subject is filled with such conjecture and predictive abilities through deduction are bound to provide some shocking truths nonetheless.
- McKinsey and Company reported that almost 70% of all changes failed when measured by the success rates standard set upon by each of them. The research was conducted by records spanning over two decades, and the indication that the condition is truly grim. This translates to either of the two things-one, that the current state of the change management is insufficient in handling the tides and turns of the human society, and two, that people find the theories hard to apply in the context of a real-world scenario. Overall, both change and strategic management are in dire need of some revolution in this field.
- Another shocking discovery realized to the world by Peak Performance PM, companies tend to lose over $109 million in every $1 billion investment that went design and change management efforts. That roughly translates to over 11% loss of revenue on the investment. This fact is not a surprising fact at all because as it has been said, the success rate is not showing results for one reason or the other.
- Experts who actively pursue change management as their chosen path in their professional lives mostly use the MS Excel spreadsheet software to formally formulate the industrywide management plans. Additionally, it has been also said that the spreadsheets of such management plans are a legitimate nightmare to create and realize.
- The two major reasons attributed to such inflated numbers of loss as mentioned above is mostly due to a lack of great leadership and insufficient, untimely and unclear communication. As such, one should realize this is a wake-up call to the leaders in all around the world to be better at their job, creating a healthy and enriching atmosphere and also promote great relationship ties between the customers in question.
- The change management iceberg is a thing, and this phenomenon has been observed plenty of times by the people responsible for implementing correct management techniques generally leave behind an underwater iceberg bulk of the problem or change that are left handily unresolved without any concern or awareness of it as such.
- It has also been shockingly found that in the entire scope of all the industries running over the world about 39% of the employees are straight up resistant to change, while about 33% management teams do not encourage change in behavior or style at all.
- Social media is becoming a great medium through the help of which change management efforts can be applied effectively. The vast connectivity and the culture of video and imagery based culture also lends a significant advantage of implementing change unto the world.
The points that have been listed above correctly and poignantly illustrates how complex and confusing this field happens to be; full of pitfalls with the stakes being at an all-time high.