How do you measure the ROI and the impact of change?

In today’s rapidly evolving business landscape, measuring the return on investment (ROI) and impact of change initiatives has become crucial for organizational success. With studies showing that up to 70% of change efforts fail, understanding how to effectively gauge the outcomes of these initiatives is more important than ever. But how exactly can businesses quantify the often intangible results of change management?

To shed light on this critical question, we’ve turned to industry experts for their insights. Our first contributor, Alan O’Neill, brings a wealth of experience in change management and customer experience strategy. As a renowned keynote speaker and author, Alan has guided numerous organizations through successful transformations.

Join us as we explore Alan’s perspective on measuring the ROI and impact of change, providing valuable insights for business leaders and decision-makers navigating the complex world of organizational transformation.

Alan O’Neill

Alan O’Neill, a renowned change management expert with 30 years of experience helping global brands like Selfridges and Toyota, explains how to measure the ROI and impact of change: “The way to measure the impact on the ROI within a change management program is to do it before and after.” O’Neill recommends establishing a baseline before implementing change by conducting quantitative and qualitative measurements. Quantitative data can include customer feedback and key performance indicators (KPIs), while qualitative data can be gathered through conversations and anecdotal stories from those involved in the change process. After the change program, repeat these measurements to compare results.

To effectively measure ROI:

1. Establish pre-change benchmarks
2. Implement the change initiative
3. Conduct post-change measurements
4. Compare before and after results

O’Neill emphasizes the importance of looking for a positive gap between the before and after scores. This approach allows organizations to quantify the impact of their change initiatives and determine the return on investment. By using both quantitative and qualitative data, companies can gain a comprehensive understanding of how the change has affected various aspects of their business.

As we explore this critical topic further, other industry experts will share their insights on measuring the ROI and impact of change. For now, business leaders and event planners can apply O’Neill’s straightforward method to assess the effectiveness of their change management efforts.