A survey of 7,500 global leaders by Korn Ferry reveals driving strategic change as the top leadership development priority identified by executives. Not surprising, given that half of respondents cite managing through strategic change as the number one shortcoming of current leadership. In fact, only 17 percent of those surveyed are confident their organizations have the right leadership to execute strategic priorities.
Leading an organization through change is tough, and the fact that most leaders are challenged to do it effectively is a big problem. Rapid change and transformation create natural resistance, and studies consistently show between 50 and 70 percent of critical change efforts fail. The stakes are high, and companies must improve the odds of success to compete long term. Hope is not a strategy but arming leaders with the knowledge and tools to help employees face change head-on, embrace it and come through it successfully is.
Whether merging or acquiring another company, executing a new go-to-market strategy, restructuring, or launching new systems, products or service innovations, leaders must possess the capabilities and courage to deal effectively with both the structural and human aspects of change. They must develop the capacity to articulate a compelling vision and help employees understand why the change is relevant so they become energized by what’s possible and motivated to achieve results.
How confident are you in your team’s ability to lead change? Are the leaders in your organization equipped to execute strategic priorities? How would you rank your company’s leadership development ROI?
We work closely with leaders at all levels to create awareness of change leadership strengths and opportunities for improvement. Click to explore our Leading Change Workshop and how we can help your organization jump-start efforts to build this critical leadership capability internally.
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