Transformations that put humans at the centre are 2.6 times more likely to succeed
- Underperforming transformations can increase the emotional strain on the workforce by 136%
- 67% of respondents have experienced at least one underperforming transformation in the last five years
- Research identifies six key drivers for transformation success
The complex factors that influence the success or failure of a business transformation are rooted in human emotions, according to joint research with EY, based on a survey of 935 senior leaders and direct reports, as well as 1,127 workforce members from 23 countries and 16 industry sectors.
Leaders who prioritise workforce emotions in their transformations are 2.6 times more likely to be successful than those who don't, according to the research. In addition, more than half of respondents (52%) in high-performing transformations said that their organisation provided them with the emotional support they needed during the process. Conversely, the emotional strain on the workforce increases by 136% during an underperforming transformation.
Successful transformation is critical for organisations to thrive, and the research finds that the drive for change is accelerating, with 85% of respondents having been involved in two or more major transformations in the past five years. At the same time, the rate of failure for transformation projects remains stubbornly high, with 67% of respondents having experienced at least one underperforming transformation during the same time.