Change management is an essential part of any organization’s success. However, statistics show that many change initiatives fail to achieve their goals due to employee resistance and lack of management support. According to McKinsey & Company, 70% of change management programs fail in this regard. The global Project Management Institute (PMI) 2020 Pulse of the Profession report also found that only 34% of change initiatives are successful worldwide.
Prosci’s 2016 survey revealed three main factors for successful change management: effective executive sponsorship, dedicated resources and funding, as well as employee involvement. Additionally, StrategyEx reported that 73% organizations expect the need for more efficient Change Management practices from 2020-2024; Forbes stated that companies with effective Change Management practices are 3.5 times more likely to outperform industry peers; while PMI’s 2018 annual survey showed 27% respondents citing inadequate sponsor support caused projects failure – all highlighting how important it is for businesses today to have a strong Change Management strategy in place if they want long term success and growth within their respective industries or markets..
Change Management Statistics Overview
73% of organizations expect the need for change management to increase from 2020 to 2024.
This statistic is a telling indication of the importance of change management in the modern business world. It suggests that organizations are recognizing the need for change management to become an integral part of their operations, and are preparing to invest more resources into it in the coming years. This statistic is a valuable insight for readers of the blog post, as it provides a glimpse into the future of change management and the direction in which the industry is heading.
Organizations with effective change management practices are 3.5 times more likely to outperform industry peers.
This statistic is a powerful reminder of the importance of effective change management practices. It highlights the potential for organizations to significantly outperform their industry peers by investing in change management. It is a compelling argument for organizations to prioritize change management and make it a cornerstone of their strategy.
39% of organizations completed all of their strategic initiatives successfully in 2020.
This statistic is a testament to the power of effective change management. It shows that when organizations prioritize change management, they are more likely to achieve their strategic initiatives. This is a powerful reminder that change management is an essential part of any successful organization.
Only 29% of change initiatives were rated as “mostly” or “completely” successful in a 2017 report by The Economist Intelligence Unit.
This statistic serves as a stark reminder of the difficulty of successfully implementing change initiatives. It highlights the need for organizations to be mindful of the challenges associated with change management and to take the necessary steps to ensure that their initiatives are successful.
Approximately 70% of IT projects suffer from scope creep, a major contributor to change management failure.
This statistic is a stark reminder of the importance of effective change management. It highlights the fact that scope creep is a major factor in the failure of IT projects, and that without proper management, the chances of success are drastically reduced. This statistic serves as a warning to those involved in IT projects, and emphasizes the need for effective change management strategies to ensure the success of the project.
More than half of senior executives feel their companies aren’t equipped for digital change, as per a 2018 Wipro Digital report.
This statistic is a stark reminder that many companies are not prepared for the digital transformation that is taking place in the world today. It highlights the need for organizations to take proactive steps to ensure they are equipped to handle the changes that come with digitalization. It also serves as a warning that those who do not take the necessary steps to prepare for digital change may find themselves at a disadvantage in the future.
In a 2018 McKinsey survey, companies with high digital maturity had a change success rate of 88 percent.
This statistic is a powerful testament to the effectiveness of digital maturity in achieving successful change. It shows that companies that have invested in digital maturity have a much higher chance of success when it comes to change management. This is an important statistic to consider when discussing change management, as it highlights the importance of investing in digital maturity in order to ensure successful change.
40% of organizations in a 2020 survey by Gartner reported that change fatigue is their most significant barrier to change.
This statistic is a telling indication of the current state of change management in organizations. It highlights the fact that many organizations are struggling to keep up with the pace of change, and that change fatigue is a major obstacle to successful change initiatives. This statistic is a reminder that change management is an ongoing process that requires careful planning and execution in order to be successful.
Only 10.7% of companies report having mature digital transformation efforts that are enterprise-wide.
This statistic serves as a stark reminder of how much work still needs to be done in the realm of digital transformation. It highlights the fact that the majority of companies are still in the early stages of their digital transformation journey, and that there is a long way to go before they can truly reap the benefits of a mature, enterprise-wide digital transformation effort.
According to a Forbes article, 62% of employees primarily fear workplace change due to the uncertainty it brings.
This statistic is a stark reminder of the trepidation that many employees feel when faced with workplace change. It highlights the importance of effective change management strategies to ensure that employees feel supported and informed throughout the process.
A 2020 survey by Apptio found that 80% of CIOs see their roles evolving from “delivering” to “advise” roles, a shift impacting change management.
This statistic is a powerful indicator of the changing landscape of change management. It shows that CIOs are recognizing the need to move away from a traditional ‘delivering’ role and towards a more consultative approach. This shift in focus is essential for successful change management, as it allows CIOs to provide valuable advice and guidance to their teams. As such, this statistic is an important reminder of the importance of change management in today’s business environment.
The statistics presented in this blog post demonstrate the importance of effective change management. From McKinsey’s research that 70% of change management programs fail to achieve their goals, to PMI’s 2020 Pulse report which found only 34% of initiatives are successful, it is clear that organizations must invest time and resources into developing a comprehensive strategy for managing changes. This includes having an executive sponsor, dedicated resources and funding, employee involvement and engagement as well as mature digital transformation efforts across the enterprise. Without these elements in place, companies risk wasting money due to poor project performance or facing resistance from employees who fear uncertainty brought by workplace changes. It is essential for businesses today to prioritize implementing strong change management practices if they want to outperform industry peers and reach their strategic objectives successfully.
0. – https://www.prosci.com
1. – https://www.gartner.com
2. – https://www.innotas.com
3. – https://www.wiprodigital.com
4. – https://www.home.kpmg
5. – https://www.apptio.com
6. – https://www.forbes.com
7. – https://www.brightline.org
8. – https://www.mckinsey.com
9. – https://www.strategyex.com
ZipDo, cited June 2023: Change Management Statistics