Top-performing companies are more likely to have invested in enterprise-wide transformation over multiple years

Our speakers

Totally committed

PwC research shows clear correlation between prioritising and investing in transformation and being in the top 20% of an industry in terms of profit margin and revenue growth.

Transcript

Kenneth Roberts, Partner, Modern Enterprise Leadership, PwC Australia

When combined together, these 11 elements help Australia’s top companies stand out from their peers in revenue and growth. 

Our data shows the top 20% of local companies are 10 times more likely to be totally committed to transformation than the 80% of their remaining peers. But in today’s economic conditions, it’s easy to say, “We should delay decisions. I can’t afford transformation.”

However, can you afford not to transform? 

Top-performing companies are 1.6 times more likely to have recognised transformation as a top priority three or more years ago, and are more than six times more likely to have increased investment in transforming their whole business by more than 30%.

Amy Plowman, Partner, Workforce and Leadership Transformation, PwC Australia

Total commitment to transformation requires alignment on what the organisation wants to be and not be, agreement on the enterprise-wide priorities, recognition of the real opportunities and challenges, commitment to long-term investment, and dedication to really improving the experience for both your people and customers. 

Kenneth Roberts, Partner, Modern Enterprise Leadership, PwC Australia

Companies that do well have a clear view of what they could become of their North Star. Their leadership drives that fitness to change, and builds the ability to deliver and execute. And they learn.

Amy Plowman, Partner, Workforce and Leadership Transformation, PwC Australia

CEOs can make sure everybody’s committed to the long haul when transforming their business, by ensuring that, first of all, there’s a laser focus on the ‘why?’. It’s all about making sure people understand why this transformation journey is so important, that people are seeing and experiencing the benefits over time, and that they can see how the transformation is going to help the organisation really achieve its purpose.

The second thing that’s key is ensuring that we take everybody on the journey. And that’s really about making sure those milestone moments are actually hallmarked, signposted along the way so people can actually experience the benefits, feel what it means to them in practice, and be inspired continuously throughout the journey.

It’s really important to dedicate your A-team to the transformation journey. Whilst tempting to keep those people focused on business as usual, if you’re going to be focusing on designing and transforming for the future, you want your very best performers involved.

Kenneth Roberts, Partner, Modern Enterprise Leadership, PwC Australia

Top-performers have a burning ambition for transformation. They don’t talk about change fatigue. Rather, they see change as business as usual.