Change is the only constant in today’s business scenario globally and all stakeholders, private and public sectors alike, are constantly in the lookout for bringing transformational change in what they do and how they do, and successfully implementing it in their respective organizations for adding value and ensuring competitive advantage. However, many of the large scale and complex change initiatives have not been successful and sustainable due to lack of shared vision across the organization and limited stakeholder involvement, as well as limitation in tools, skills, accountability, processes and measures.
Historically various research has shown that 60%-70% of organizational change programs fail. Unsuccessful change initiative not only has a financial impact on the organization owing to the investments made, but can also lead to unhappy stakeholders, confused workforce and distressed leadership. Going forward, there will be increased use of digital adoption platforms and data-driven approach to support and facilitate any change initiative.
Moreover, any change within an organization needs to be associated with building the capacity of the workforce to leverage and adapt to that change successfully in their work. Organizations need to develop and strengthen the skills, abilities, processes and resources to adapt and thrive with the implemented changes in the foreseeable future. But capacity building remains intangible in most cases as it is difficult to provide evidence of its results or measure its impact and accomplishment.