Many organizations embark on large-scale transformations, only to end with frustrated leaders and worse-than-expected long-term results. These efforts typically start with high aspirations and significant energy then lose an average of 42 percent of their expected value in the later phases of the transformation program, where the focus shifts to executing and sustaining change.1
While many programs lead to disappointment, our latest McKinsey Global Survey on the topic2 shows that success is attainable and that organizations that excel at implementation tend to outperform their peers financially. The research also indicates that the top-performing organizations—that is, the ones that achieved their transformation goals and sustained performance gains for at least three years—have several attributes in common. Specifically, these organizations are more likely than others to install a comprehensive, rigorous slate of implementation practices over the program’s life span. They also achieve most of their people-oriented transformation goals and commit enough resources to the effort.