Despite decades of experience and enormous investments of money, time and resources, the failure rate of technology transformation programs remains stubbornly high.
In 2019, EY teams and the University of Oxford’s Saïd Business School struck up a collaboration to find out why. In 2021, the two organisations published the first research report, which revealed a shocking truth: two-thirds of transformation programs fail. The research found 67% of senior leaders had experienced at least one underperforming transformation in the previous five years.
In 2024, the next instalment of the research was released. This found 96% of transformation programs experience challenges that generate a “turning point” determining their success or failure.
Leaders who can skillfully navigate these turning points by prioritising people-focused solutions can double the likelihood that a transformation will overperform against its key performance indicators (1.9x) and its overall speed (2.1x).
New thinking is needed to navigate these turning points, and the research data reveals that humans are at the centre of this thinking.