Timely production and actioning of relevant benchmarked insights.
A recognition that not all organisations need to be ‘the best’. ‘Good enough’ may be the right answer right now.
A need to maximise value from available investment.
The four key building blocks provide a unique 360 degree perspective of the change landscape and allows us to provide action based insights to maximise available investment.
Improvements in an organisation's change capability can be quantified. Unfortunately 75% of the required change KPIs are typically not measured. The value of addressing these is undoubted. One client alone recorded a £17m benefit as a result of improving the organisation's change capability.
When benchmarking a change function against both its peers and best practice, we found:
Confusion on what the right change function model should be and the services it should provide.
A significant gap in the investment and capability required to deliver the organisation’s change ambition.
Significant savings to be made that could be reinvested in the change function.
A benchmark across different project types showed that product launches in the Financial Services sector take longer than the usual three to six months seen in other markets. The regulatory demands of the industry mean a two-year timescale is common.
Our benchmarking insights revealed a number of quick wins to help improve the effectiveness and efficiency of the Sponsor role. These include:
Aligning the Sponsor’s role and focus to different project complexity levels.
Removing the common barriers to Sponsor effectiveness.
Providing alternative and effective Sponsor support arrangements.