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Proudfoot CEO Weighs in on McKinsey's Transformation Failure Rates

McKinsey’s 2018 transformation survey casts a dark shadow on the odds of your transformation success: They quote a 74% failure rate. They ask if yours is ‘doomed to fail?’.  We’re embarrassed for our industry when we read these results. With statistics like that, I almost want to ask, ‘why bother at all?’ But I know transformation doesn’t have to fail.

When John Kovalchick, a forty year veteran of Proudfoot, analysed our track record and together with our Analytics team, developed the Proudfoot Transformation Scorecard, we discovered statistics that made us proud.  Read here to see what John had to say about our results. From this scorecard, it’s easy to see how our 72 year history of implementing, not just strategizing, transformation, helps us continue to achieve remarkable results for our clients.

So how do we beat the odds and avoid you being part of McKinsey’s 74% failure? We know how to do transformation, and it all starts with People.  Elon Musk was right; People are Under Rated.  We’ve known for a long time that people drive businesses forward, after all, people power up the technology, the processes, the systems and other people, to achieve.

Because of the abysmal McKinsey survey results, we felt we needed to start sharing our *t-Lab secrets with you and offer the benefit of our experience to the industries we serve. *t-Lab is the Proudfoot Transformation Masterclass; the culmination of 72 years of leading successful transformations with our clients. Here are a few tools to kick start that sharing:

  1. We’ve captured the transformation taking place in transformation programs; How successful ones have modernized to suit todays organizations. Download the t-Tip Page: Transforming Transformation from our t-Lab* Masterclass
  2. If you chose to partner with a consulting firm, pick the right one to fit with your needs. To help you, we’re providing The Consulting Buyers Guide. A downloadable eBook with a checklist for you and your procurement team to leverage what our clients tell us they require when selecting a transformation consulting partner.
  3. And finally, we encourage you to take a more passionate look at how you are viewing transformation – not as a stoic, corporate initiative but as the dynamic, lifeblood of your Organization’s DNA that engages and challenges your people and create grassroots transformation. It’s transformation with a little ‘t’ and a big ‘P’ – people are the killer app.

By bringing transformation into the 21st Century. Whether it’s digital or operational transformation, it requires your people to be driving behind it and out in front. We say, having one foot in the present and one foot in the future’.

We think there are solid lessons to learn, to prevent the bleak results McKinsey highlights.

Pam

Article by Pamela Hackett, CEO, Proudfoot

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