As a Foundation member of the Australian Transformation and Turnaround Association (AusTTA) launched earlier this year, we applaud its goals to bring some structure and support to those working in and around this discipline. And I say discipline, because I am delighted that AusTTA is developing a post-MBA advanced course with ANU which will entitle members to be a Fellow of Transformation Management.
For those unfamiliar with the Association, it was launched in July by senior, experienced transformation professionals to assist leaders and organisations better respond to today’s rapid change, including digital disruption, and support growth of the Australian economy.
The Association also seeks to reduce the stress and risk of transformations on employees and social stakeholders during change management. A key objective of the association is to “assist leaders of change”, indicating that it is there as a resource for senior management, not just for its members.
The Association recently conducted its first research study of 900 business, transformation and change leaders who cover industries from banking and finance, manufacturing, technology, consulting, government, academia and health.
The goal was to assess the Australian business community’s appetite for change, and to ascertain challenges ahead. A quarter comprised external transformation advisers, a fifth were C-suite leaders (20%) and in-house transformation leaders (20%).
We’ll be exploring the various aspects of the research in the coming months and adding our industry experience to the debate, but one of the main themes I found interesting, if perplexing, is the acknowledgement that leaders who resist change are effectively on notice.
The research found that 42% – that’s almost half – of those surveyed felt at a loss as to how they should face today’s challenge to transform.
While the myriad reasons for this are well documented, namely technology, business models, resourcing and skills development, the fact is that senior, credentialed, experienced leaders feel unequipped to cope with these challenges.
This means that turning to peers, networks and associations, or organisations like ourselves for counsel, has never been more important – if transformations are to be run successfully and if leaders want to stay at the helm of such exciting times in Australia.
The AusTTA LinkedIn group is growing rapidly as individuals express interest in participation and we encourage you to join.
PM-Partners offers a Transformation Advisory service, if you are currently running a complex transformation or are about to embark on a transformation journey, contact us on 1300 70 13 14 and speak to one of our transformation consultants about how we can help.