Learn about transformation programmes from leading organisations
We spoke to nine leading employers from a range of industries about the experience they have gained while implementing finance transformation programmes. Although the drivers of change and end goals varied, all agreed that their people were, and are, a key consideration throughout.
Transformation programmes fell into two common themes: skills and talent; and roles, structures and processes. We found that the maturity of the programme had an impact on its focus — those organisations that were focused on the development of employee skills and talent tended to be those that had already implemented a solid technology infrastructure enabling ‘one way of working’.
Employee training and development was a key element of all the programmes. Many of those we spoke with referred to the 70:20:10 learning and development model, in which individuals obtain 70% of their knowledge ‘on the job’ through experience and workplace support, 20% from social interactions with others, and 10% from formal educational events and courses.xxii While actual percentages may vary across organisations, the model reflects the significance of workplace learning (Table 1).
70%
Experiential (‘on-the-job’) learning
• Workplace support • Information sources • Interaction with leaders
20%
Social learning
• Collaborative working • Coaching • Mentoring
10%
Formal learning
• Courses • Conferences • E-learning
Table 2
Growth mindset is seen as crucial to success, and this philosophy is clearly reflected in programme planning. Although all organisations had some form of a roadmap, they unanimously viewed transformation as an ongoing, evolving process rather than a defined project with a beginning, middle and end.
Leading organisations are taking the initiative early, preparing their employees for new, yet undefined, future roles.
Government Oil and Gas Technology
Pharmaceutical