How do you know if a digital transformation is working?
According to McKinsey & Company, https://www.mckinsey.com/featured-insights/mckinsey-explainers/what-is-digital-transformationthe first step is to identify what to measure. Digital transformations usually have three key performance indicators (KPIs):
- Value creation: Digital solutions aim to improve operational KPIs that translate into financial benefits.
- Team health: Many digital transformations progress slower than planned due to understaffing, outdated work methods, and lack of critical capabilities. High-performing teams can be five times more productive than low-performing teams.
- Change-management progress: These metrics measure the progress of building new capabilities and the transformation’s health. Are teams mobilizing as planned? Are people engaged? Are we building talent and capabilities? Are people seamlessly using the technology and tools developed?
Managing change requires balance. The perfect is the enemy of good, and progress should be celebrated.
Learn how Loquat Inc. can help you with your transformation: https://loquatinc.io/