Michelle Hammersley: The 5 Elements of Transformation
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Executive Leaders Network: Finance, Procurement & HR Transformation Summit - May 2022
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Michelle Hammersley: The 5 Elements of Transformation
- 1. THE FIVE ELEMENTS OF TRANSFORMATI ON Michelle Hammersley
- 2. INTRODUCTION • Practice Lead Finance Transformation at Synfiny • 20+ years’ experience in post-acquisition integration, crisis management, change management and transformation • CIMA accountant with manufacturing/ FMCG background
- 3. Transformation Journey WHAT IS TRANSFORMATION? Curren t state Future state People Tools Process
- 4. A NOTE ON STARTING AND STOPPING • STARTING • Great business case • Exec sponsorship • Stakeholder buy in • Governance … but what about stopping?
- 5. VISION • Foresight is strategy • Insight is culture
- 6. PASSION • You can’t fake commitment! • If you don’t care, why should anyone else?
- 7. EMPATHY The people who have to live with the results, ultimately deliver the change
- 8. FOCUS • What problem are we trying to solve ultimately? • What problem are we trying to solve today?
- 9. PRAGMATISM • You absolutely have to know what you’re doing • Be realistic about the tools & resources available • Let’s just get this fixed!
Editor's Notes
- Transformation can mean many things to many people - it could be a change to the organization, to ways of working, to systems and tools. It could be driven by a crisis, or a change in ownership, or by a compelling business case. Whichever of these it is, it's a much-quoted statistic that 70% of transformations fail. In this webinar Michelle will share her 5-ingredient "secret sauce" to what makes transformation sustainable and successful.
- Put simply transformation is a journey starting from one point, changing people, process, and tools, to get to an end point. That future and current state might be expressed in terms of a business case, or “what good looks like”. Normally before you start there’s a burning platform in the current state which means you have to change it, which is the “why” we start on the journey. But the talk today isn’t about building the business case, or about any specifics of people, process or tools – it’s about the 5 elements that are vital to make the journey successful and sustainable. This is a deceptively simple diagram and you’ve no doubt seen some version of it many times before. But if it’s so simple, why do 70% of transformations fail – either fail to make their business case, or fail to be sustainable? And the proportion for digital transformations is even higher. What’s the secret sauce for the 30%? Experts disagree, so you’re getting my version based on my experience over many years of making this happen
- This is not so much the vision for the transformation, but the vision for the organization as a whole. Transformation doesn’t take place in a vacuum – it’s part of a bigger picture, and you need to be able to draw the line between the overall org vision and the transformation vision. What’s more, it’s not just about looking forwards to a future state; it’s also about understanding what makes you, you, because that’s what will spell success on the journey – i.e. having some insight into your culture and how you want to use it/ shape it just as much as you have about your goal WHY IS IT IMPORTANT. The one thing I can guarantee is that things won’t go according to plan, and you’ll have to rechart your course at short notice. Knowing where you’re going, and what key strengths are going to take you there, enables you to take those decisions faster and smarter. But vision only tells you where you are going. The next 4 elements are really about implementation – how you’re going to get there
- You actually need to care. Change fatigue is a huge issue, and the leaders who are actually passionate about what they’re changing are far more likely to succeed than those for whom it’s a chore. There’s a world of difference between seeing opportunity in change, and doing it to meet a business case. People care about their jobs and their colleagues and organization – and so should you. This is one of the reasons you might need third parties for their expertise, but you need local leaders for their passion. Passion is about igniting a fire for something new and exciting, that speaks people. Passion unlocks shared action. We always talk here about the importance of senior leadership buy in, and that’s absolutely true – it’s not just a leader’s ability to unlock time, resources, and focus that help here, but also the visible excitement for change. Passion from the top unlocks passion at the tactical level.
- That’s a little it more than “what’s in it for me”, although there’s an element of that. It’s also about understanding where people are coming from, what goals and agendas they have, and what good would look like from their perspective. After all they are the people who need to live with the change and deliver on the grand vision You see the need for empathy very strongly in organizational transformation. Some years ago I was asked to look at the finance business partnering for our engineering, technology and quality organization. On the face of it, this was about new reports, new information systems, new cost control mechanisms. But what made it ultimately successful was actually the understanding of individuals’ goals and how these could be aligned to organizational goals – about listening to their pain points and understanding where there was some common ground. Understanding what’s important to people will also help you to talk to them to unlock their ideas. Again in the AP scenario, pulling together the site leads to talk about their pain points and what good looks like for them, was a lot more powerful in designing the to-be solution and what it had to deliver, than a top-down approach, plus it had the huge benefit of creating a “pull” for the end product This starts to get into the topic of why the 5 elements are a secret sauce and not a checklist. Without a clear vision and some passion for change, empathy just delivers a “talking shop” – everyone is happy but they’re no further forward. And without empathy, vision and passion will leave people behind – it won’t resonate
- Vision is about knowing where you’re going and what strengths you have to take you there. Passion and empathy are about how you bring people along with you. But without a dose of focus it’s hard to get started. Focus is both on the very long term – eyes on the prize – and also about what has to be done today/tomorrow to get there, i.e whether each step you take gets you closer. It’s about managing scope creep, about constantly refocusing on “what are we trying to achieve here?” “Is what I am doing right now helping to achieve it?” and also about creating a pipeline of activities, so that you can see some wins and milestones along the way.
- Focus tells you what you need to do. Pragmatism tells you how to do it, with the resources you’ve got. Pragmatism is the secret sauce that turns vision and passion into action, empathy into concrete steps to help people. Pragmatism is also about pitching your expectations and actions at the right level. It’s too easy to think that you need to implement a new ERP, or have a totally global standard, in order to transform. But actually the reverse is true; you can create a great pipeline of ideas with a few pragmatic small scale solutions and those quick wins are important to sustain people’s enthusiasm and commitment
- The secret is in getting them all – and getting them all in balance That’s going to take a great team Focussing on the results and not the journey is a key reason the results aren’t sustainable