Initiatives related to business transformation are not all created equal, however. They must be thoughtfully designed and successfully executed if they are to have an impact, and this requires an integrated and holistic approach that brings the company and the people within that company from vision to action. What is particularly key in this process of transforming a company is the corresponding personal transformation of its leaders.<\/p>\r\n
When we consider how these two processes \u2013 that of business and behavioral change \u2013 are linked, a new paradigm arises, what I regard as holistic transformation that goes after the mind, heart, and body of a company.<\/p>\r\n
Mindset Transformation: Purpose and Vision-Driven <\/strong><\/p>\r\n Of course, any transformation demands a look to the future, and this reflection involves a creative process in which multiple potential future states are imagined for the company. This envisioning of the future can help craft a bold vision for the transformation and serve as a North Star throughout the journey.<\/p>\r\n It is a dynamic state.\u00a0Nowadays, not putting enough focus and energy on defining and articulating a compelling vision for a company may represent the difference between success and failure in a transformation. Visionary leaders are those who reinforce and attend to the definition and execution process. Research from Oxford University and EY<\/a>, finds that nearly half (47%) of respondents in a high-performing transformation said the vision was clear and compelling versus 26% of those in a low-performing transformation.<\/p>\r\n According to Oleg Konovalov, author of The Vision Code<\/em><\/a>, there are certain criteria for a strong vision. All criteria are linked, each indispensable:<\/p>\r\n According to the World Economic Forum, more than 20% of workers were thinking of quitting their jobs in 2022<\/a>. This percentage may be even higher for management and executive positions. Great resignation is not over. Many executives are likely exhausted, always going from one goal to the next, always looking for actions to achieve benchmarks and personal ambitions, faster and faster. Then suddenly, one day, they might start thinking about the purpose of their work, and what really deserves their time, energy, and will. It may be the case for some that there is no alignment between their aspirations, ambitions, and actions.<\/p>\r\n Of course, it is not unusual to experience this lack of alignment at different stages of one\u2019s professional career. Nevertheless, it is certainly not ideal. Marshall Goldsmith, an executive coach and most recently the author of The Earned Life: Lose Regret Choose Fufillment<\/em><\/a>, warns that when our actions are not aligned with our ambitions or our aspirations, we run the risk of wasting time and spinning our wheels in a way that might prevent us from ever arriving at our chosen destination.<\/p>\r\n Technology isn\u2019t the vision in and of itself, but it does bring the vision to life.<\/p>\r\n<\/blockquote>\r\n Purpose and meaning have a payoff for both individuals and companies. Companies need conscious and purpose-oriented leaders to steer the business\u2019s transformation initiatives, leaders with a high level of self-knowledge and whose ambitions align with their actions within the company. Thus, leaders need a long-term perspective when defining their personal vision and the underlying values they care about most, and should periodically fine-tune this vision \u2013 just as they periodically fine-tune the vision of the company or transformation initiative. It is important for leaders to be comfortable with regularly reflecting on how their personal vision aligns with that of the company. The higher the alignment the stronger the outcome.<\/p>\r\n Heartset Transformation: People at the Center <\/strong><\/p>\r\n Business transformations generate profound changes, including in people\u2019s attitudes and mindsets \u2013 and in this way a business transformation has the power to shape how people will behave in the future. This is cultural change and it is a strong differentiating force for companies, complex to imitate, and with the ability to foster a competitive advantage when it is properly aligned with the strategy of a transformation. It is best done at the beginning of the journey.\u00a0<\/p>\r\n Changes are usually uncomfortable and change within an organization will have a direct impact on employees and their emotions. During transformation, people usually express that they feel more stressed, tense, upset, nervous, depressed, and sad. Overall, these negative emotions in the workforce increased by 25% during a successful transformation<\/a>. This is an increase, yes, but compare that to the more than 130% increase that occurs during an underperforming transformation.<\/p>\r\n\r\n
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