For an example of the intrinsic value of a formal, company-wide approach to change, the KPMG researchers looked at a leading distributor of electronic components and technology. Since 2005, a global change management program at this company had achieved more than $100 million in benefits, including:
These are fantastic benefits, and let’s remember this about them: They were not realized in a vacuum. The CIO singled out sponsorship and having a framework for change as helping to ensure success. From the KPMG study:
“…we have a formal and successful change management approach. This focuses not only on communications and training, but also sponsorship, coaching and managing the inevitable resistance that comes with change.”