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Experts estimate that the success rate of major change efforts in organizations is only between 30% and 54%. When a change effort fails, it not only results in financial losses, but also in decreased employee morale, lost opportunities and wasted resources. Many researchers and experts have pondered why the failure rate is so high. Most believe it is due to the lack of a formal change management program and ultimately a failure of leadership.

Stuart Levine

Credit Union Times

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