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Digital Transformation: Effective Communication is the Key to Success
Businesses are spending $2 trillion annually on digital transformation projects, according to IDC.
Mark Raskino, distinguished VP analyst at Gartner, said that “in three to five years, every industry will be digitally remastered. Remember in the past IT was a support service? It was not ‘what we do.’ Anywhere and everywhere, tech is becoming part of what we do.”
But the problem is that change is hard. McKinsey reports that 86 percent of digital transformation projects fail.
McKinsey goes on to summarize that “… the painful reality is that most transformations fail. Common pitfalls include a lack of employee engagement, inadequate management support, poor or nonexistent cross-functional collaboration, and a lack of accountability. Furthermore, sustaining a transformation’s impact typically requires a major reset in mind-sets and behaviors—something that few leaders know how to achieve.”
In a piece for CNBC, Keith Kitani, CEO of GuideSpark, points to digital transformation projects that have failed by GE, Ford and Proctor & Gamble. Kitani argues that “people aren’t the problem; it’s the organization’s failure to communicate effectively with its people that sets them up for digital transformation trouble from the start.”
