![]() ![]() How companies engage their employees can be the difference between success and failure.A 78% failure rate, compared with Kotter’s asserted 70%, quantifiably affirms how tough it is to transform an organization. Only 22% of companies in our analysis successfully transformed themselves. Transformation is even harder than we thought.Using a meta-analysis that crunched data on financial performance as well as corporate reputation, we found that: So last fall, our three organizations, Copperfield Advisory (Copperfield), Insider, and Revolution Insights Group ( RIG) came together as a team to determine what puts some companies on the path to success. Is Kotter’s number accurate? And what makes a successful transformation? There have been surprisingly few studies that set out to answer these questions in a quantitative way. More than 25 years ago, John Kotter highlighted the challenge when he made his now-famous assertion that 70% of corporate transformation efforts are doomed to fail. Successful enterprise transformation has long been considered the holy grail of the corporate world - continually sought after, but difficult to grasp. ![]()
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