In this excerpt, Proudfoot CEO, Pam Hackett discusses People and Transformation at Innovation Mining Lunch & Learn.
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McKinsey’s 2018 transformation survey casts a dark shadow on the odds of your transformation success: They quote a 74% failure rate. They ask if yours is ‘doomed to fail?’. We’re embarrassed for our industry when we read these results. With statistics like that, I almost want to ask, ‘why bother at all?’ But I know transformation doesn’t have to fail.
When the Financial Times reported its annual list of consulting firms, it triggered an interesting challenge from Source Global Research, one of the industry’s most respected commentators. In their blog, Source questioned why the Financial Times report had not included more client feedback and opinion on the performance of consulting firms. They went a step further, stating that according to their own research only 38% of clients agreed that consulting firms had added more in value than they charged in fees. An alarming statistic.
