Are You Ready to Transform?

To leverage insights from comparable transformations, we turned to our massive database, which allowed us to evaluate the company’s readiness for change against a benchmark for other industrial-goods companies that had implemented cost-reduction efforts. [...]the data showed that the most successful...

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Bibliographic Details
Published inBCG Insights
Main Authors Jahn, Jens, Manuel, Luiz, Messenböck, Reinhard, Werner, Robert
Format Web Resource
LanguageEnglish
Published Boston Boston Consulting Group Boston, MA 06.01.2020
Subjects
Communication
Employees
Empowerment
Executives
Leadership
Success
Teams
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Summary:To leverage insights from comparable transformations, we turned to our massive database, which allowed us to evaluate the company’s readiness for change against a benchmark for other industrial-goods companies that had implemented cost-reduction efforts. [...]the data showed that the most successful industrial-goods companies had a highly valued change manager, effective top-down communication, close coordination between senior management and human resources, and an emphasis on constantly upgrading employee skills. Before conducting the change readiness assessment, they believed that the company’s measurement system for tracking outcomes was suboptimal, but they considered their leadership to be sufficiently prepared for the implementation and thought that their communication plan was clearly defined and ready to go. (Qualitative benchmarking data showed that an overly detailed tracking mechanism can be poison for employee engagement.) In short, no additional action was warranted. * Leadership.