Think you’re the kind of company that supports transformation? Research suggests you’re probably wrong.

Nearly 75 percent of all business transformations fail. What’s the biggest roadblock to success? Your company culture. A company unwilling to embrace change is one that fails to pivot and, ultimately, transform. Transformation is an essential part of business success – especially in times of volatility.

The good news is that any enterprise can support transformation with the right mindset. Here’s how.

Start with Your Employees

There’s a saying in business: “hire people, not skills.” Skills can be taught, but personality traits are ingrained. Hire and retain employees who are flexible, enjoy challenges, and don’t shrink from adversity.

Do your part as well by fostering employees who are innovative and adaptable. Employees are more likely to help if they feel valued and engaged with their work. Most importantly, it imbues them with a shared sense of importance. A strong shared vision helps alleviate any obstacles to innovation, including one major hurdle: internal politics. Company infighting is an incredible hindrance to transformation, while shared purpose moves employees in the right direction.

Never Fear Failure

Employees should also have the freedom to experiment. When people are awarded this freedom, they become more adept at prioritizing and begin taking the initiative. It’s easy to fall into a “this is the way we’ve always done it” mindset, but this only hinders progress. Businesses shouldn’t fear failure, as it is an essential step in the innovation process. Consider, for example, the failures of Bill Gates before he championed Microsoft. Companies that support innovation are also ones that support calculated failure. Remember: failure at the early stages of the innovation process is far easier to overcome than failure at rollout.

Value Streamlined Collaboration

Gone are the […]