Organizational Transformation Is an Emotional Journey
The road is littered with failed transformation programs that were set up in the traditional way: Leaders define objectives, design a project plan, agree on KPIs, and recruit the right people. As many executives, academics, and consultants can relate to, the rate of failure in transformations is still far too high, and one that organizations can ill afford in these disruptive times. To understand the skills, mindsets, and capabilities behind successful transformations in today’s dynamic environment, EY and Oxford University formed a research collaboration to investigate what it takes to lead a successful transformation. We surveyed 935 CXOs and 1,127 members of the workforce. Approximately 50% of them represented a successful transformation project and 50% an unsuccessful one. The respondents came from 23 countries, seven industries, and 16 sub-industry sectors. We also conducted 25 in-depth interviews with CXOs from multiple global companies. Before their interviews, each leader was