“Only a third of excellent companies remain excellent for decades, and when organizations try to transform themselves, even fewer succeed” Scott Keller and Colin Price, authors of Beyond Performance.
That’s a tough hurdle. It’s as if companies are designed to self destruct…. unless they can successfully change. And, you, Mr./Ms. Leader, should you accept this assignment, is to set up a framework for successfully managing change.
Keller and Price, directors at McKinsey, have a decade of research and experience with clients facing change. They outline five questions in the Harvard Business Review, that organizations and leaders should constantly ask to create and make change stick:
1) Where do we want to go? What capabilities does your company and employees have and what is it that you’re passionate about achieving. Change isn’t easy and as the saying goes, “If you don’t know where you want to go, any road will take you there.”
2) How ready are we to get started? Do your employees have the skills and the mindset to make the change happen. What do they need to get there?
3) What practical steps do we need to take? What will your organization no longer do? What won’t be tolerated that can slow you down or divert change from happening. Deletion provides focus and creates energy to put toward the projects needed to make change.
4) How do we manage the journey?
- Leaders need to constantly communicate
- Give ownership to employees in making change. Author Daniel Pink, who wrote a book, Drive, says autonomy is a big internal motivator in boosting employee engagement. Your employees will drive themselves harder than you can ever imagine.
- Constantly evaluate goals and that you’re making progress.
5) How do we keep moving forward? It’s not over when you reach your goal. You need to plan continuous improvement after the goal is reached or the company won’t be able to sustain the change.
After the formal end of a transformation program at ANZ Bank, for example, the company trained more than 6,000 leaders in areas such as self-awareness, resilience, and the ability to energize oneself and others. With these leaders, ANZ has enjoyed an era of continued high performance for more than a decade.
Taking these steps, hopefully your organization will successfully manage change and achieve excellence.