Bain analyzed the barriers to successful change management at 184 global companies. The study enabled us to identify predictable patterns of risks in a broad cross-section of change efforts. We found, for example, that about 65 percent of initiatives required significant behavioral change on the part of employees-something that managers often fail to consider and plan for in advance. Nearly 60 percent of the companies we analyzed lacked the right capabilities to deliver on their change plans. The same percentage of companies didn't have the appropriate individuals, structures and decision-making processes to drive the change initiatives. In addition, about 60 percent lacked the right metrics and incentives to make change efforts successful. And more than 63 percent of the companies faced high risks to their change efforts because of significant communications gaps between the leaders of the effort and the employees most affected by it.

These findings reinforce what decades of experience with clients have shown us: companies usually fall prey to three common change management myths, which lead to a superficial approach to change initiatives. Many companies assume they can get it done, for instance, with the right combination of strong incentives for their leaders and overlook the importance of building employee commitment during a change effort. The 30 percent of companies that succeed take a radically different course of action. They know that success requires leaders to learn and apply some counterintuitive strategies to change. Let's take a look at each one in turn.

Editor's Note: the best change management article I have read recently

Leadership becomes more urgent than ever in a downturn, and ensuring an adequate supply of leaders in the roles where they can make the most difference remains a vital priority. Closing leadership gaps and building a talent-rich organization requires careful planning.

Rarely have corporate directors faced such a deep and widespread erosion of public trust. What can directors do to affirm their role, drive board effectiveness and reclaim control over their own agenda? They can start by holding up a mirror to their own board performance, as measured against the "seven habits of an effective board."

Editor's Note: a slightly longer version of this article can be found at
http://www.bain.com/bainweb/publications/written_by_bain_detail.asp?id=18035

Companies that systematically and continuously put the right leaders in the right jobs outperform companies that don't-by a wide margin. In this article, the authors argue that chief executives must recognize and act on the consequences of how they deploy their best managers.

Good Leaders don't grow on trees. All the more reason to nurture them carefully, say partners at Bain & Co.