Wednesday, October 6, 2021

g-f(2)545 THE BIG PICTURE OF THE DIGITAL AGE (10/6/2021), HBR, The Secret Behind Successful Corporate Transformations

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"g-f" fishing of golden knowledge (GK) of the fabulous treasure of the digital ageDigital Transformation, Successful Corporate Transformations (10/6/2021)  g-f(2)426 


Companies have a better chance at success if they focus on their people during transformation, HBR

      • Our assessment found that only 28 of the 128 companies we examined (i.e., 22%) successfully transformed from both a financial and reputational perspective.
      • The implications of our findings are clear: Companies have a better chance at success if they focus on their people during transformation.
      • Microsoft: Unifying Employees around an Inclusive Vision  
        • Microsoft is one of the best-known examples of corporate transformation in recent years, moving from a software company to a cloud-services company and gaining $1.5 trillion in market capitalization.
        • A core element of its overall restructuring and strategic shift was an overhaul of the company’s vision, which in turn affected all aspects of the employee experience, from team dynamics to compensation.

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                      How companies engage their employees can be the difference between success and failure, HBR

                        • Using a meta-analysis that crunched data on financial performance as well as corporate reputation, we found that:
                          • Transformation is even harder than we thought. Only 22% of companies in our analysis successfully transformed themselves. A 78% failure rate, compared with Kotter’s asserted 70%, quantifiably affirms how tough it is to transform an organization.
                          • How companies engage their employees can be the difference between success and failure. Our findings revealed that companies that successfully transformed themselves shared a common focus on initiatives that prioritized employees, such as DE&I programs and support for women managers’ careers, in addition to competitive pay and access to health care.

                          Condensed knowledge

                          Lessons learned, HBR

                          • Transformation is perhaps one of the most used and abused buzzwords in business today. Thus, an important first step in our study was defining what constitutes a transformation. In consultation with a panel of 60 executives from global companies, we defined “transformation” as a fundamental shift in the way that an organization conducts business, resulting in economic or social impact.
                          • Using RIG’s database, which includes information on 350 companies, we assembled a list of 128 global companies that had undergone transformation between 2016 and 2020.
                          • When we looked more closely at the 28 most successful transformers, we identified six attributes — most of which are related to employee compensation and DE&I — that set them apart from the rest of the pack:
                            • Employee Pay: These employees were compensated more highly compared to those at companies of a similar size.
                            • Employee Stock Options: Employees at these companies receive more stock options compared to those at companies of a similar size.
                            • Employee Satisfaction: Employees at these companies report higher satisfaction at work.
                            • Diversity and Inclusivity: These companies employ hiring practices with an eye toward equity.
                            • Women Managers: These companies employ more women in managerial positions
                            • Women Employees: Women make up a higher share of employees at these companies.

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                          • Category 2: The Big Picture of the Digital Age
                          • [genioux fact deduced or extracted from geniouxfacts]
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                            • Inherited from sources + Supported by the knowledge of one or more experts.


                          “genioux facts”: The online programme on MASTERING “THE BIG PICTURE OF THE DIGITAL AGE”, g-f(2)545, Fernando Machuca, October 6, 2021, Corporation.

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