Global business agility report: insights and interviews 16 November 2021
This report consists of three sections. Section One focuses on the stages of Agile transformation for financial institutions worldwide and summarizes the results of our Global Business Agility Survey to show the actual state of their Agile transformation journeys. We present and discuss five key observations:
1. Agile organizations work with increasing levels of cross-functional teams as they progress to higher stages of their transformations.
2. Success measures of Agile transformations include both value delivery and Agile productivity.
3. Agile organizations work in quarterly planning and delivery cycles.
4. Organizations that are scaling Agile mostly rely on internal coaching support.
5. Most leaders in organizations at advanced stages of transformation have dedicated Agile Coaching support.
Section Two discussed the benefits and challenges observed by the transformation leaders. While most organizations start the journey with an expectation of increased speed to delivery, only half of them indicated speed as the key benefit achieved. For a majority of organizations, the key benefit to emerge is increased collaboration. Increased employee engagement is among the key longer-term benefits, observed by organizations at more mature stages of their journey. The key barriers indicated are linked to the change management aspects of the journey (such as lack of understanding or belief in the need for change or change fatigue) or insufficient leadership buy-in and commitment which highlights critical role of leaders in the success of transformation.
Section Three discussed common transformation challenges grouped into four key topics:
1. Key Agile roles and cross-functional teams
2. Coaching support – Coaching teams to maturity & Agile Center of Expertise
3. Leadership behaviors
4. Objectives and Key Results (OKRs) and Quarterly Delivery Cycle (QDC)
The importance of these areas is discussed in detail and solutions to common pitfalls are proposed based on ADAPTOVATE case experience.