Businesses can become the pioneers in a bright digital future – to do so they must reinvent their strategies and pay special attention to five key areas
Research by Accenture shows that 78 per cent of business leaders are expecting to have digital organizations within three years, and there is no doubting the appetite for digital transformation at executive level. There is a common perception that employees are holding back that desire for change, either with a fear of artificial intelligence or concerns that they lack the required skills to master the digital landscape.
Disputing that, Accenture’s report finds that employees are, if anything, even more positive about the possible impact of digital than their management. The question for leaders, then, is how to capitalize on that positivity in order to compete, innovate and grow.
There is a recognition among the majority of business leaders that digital is desirable, bringing with it cost efficiencies, innovation and more productive, agile and quality work. Leaders also understand where many of these boons are likely to come from – citing technologies such as 3D interfaces, cognitive assistants, robots and the internet of things. But recognizing a goal is not the same as reaching it, and only one in five leaders identify theirs as a digital business.To move forwards businesses must adopt a “test and learn” approach, innovating and experimenting in parts of the organization. With that innovation-oriented mind-set in place, business leaders should look to build the necessary skills and talent required to see it through. That means building a workforce that is comfortable with sophisticated technology, as well as looking to fill new roles that arise from a move towards digital – digital copywriters or digital product managers, for instance. Currently, just over half of leaders have a strategy for managing and developing skills, and the rest must catch up.
Although almost all leaders identify digital transition as either important or critical, few are acting on that insight and only a third feel ready for the change. Businesses are unprepared both at a structural and a personal level: many practices and processes are inflexible, and less than a third of individual business leaders feel well prepared to make changes to management practices. Taking data from more than 750,000 change journeys, Accenture has identified strong leadership – creating a culture of feedback and innovation across the business – as imperative in driving transformation.
Making change a company-wide process involves tapping into employee positivity. Contrary to conventional wisdom, European employees are not only aware of the improvements offered by digital, but are actively seeking the skills to master it. Employees see digital as a force for good, with around 70 per cent identifying the benefits of improved innovation, agility and productivity. 81 per cent of those employees see digital changing their work in the next three years, and almost two-thirds are preparing already, by learning new technical skills. Far from their image as resistors of change, the major concern of employees is that their leaders are not ready for the digital future.
With business leaders attuned to the benefits of digital, and employees embracing them with even more vigor, there is an opportunity for businesses to reinvent their strategies and truly capitalize on digital. To do so, they should focus on five key areas:
1 Using proven digital technologies – like the internet of things or big data – to create more flexible
and agile business processes
2 Identifying the digital skills that are missing in the organization and recruiting accordingly
3 Developing training programmes to improve the digital competency of the workforce
4 Creating leadership behaviors that fuel a digital culture and collaborating across the organization
to push that culture through
5 Ensuring the workforce approach aligns with the overall digital business strategy
Success in these areas will see businesses become the pioneers in a bright digital future.
MD Abdul Hakim, founder and managing director of Unique Business System Limited (UBSL), the witness of the ICT development of the country since the year of 1993. He is an entrepreneurial spirit emerged when he was a child and launched his first business Unique Business Systems Limited in 1993 which has been ceaselessly dedicated to introduce quality new technologies in Bangladesh specially for the improvement of Education system of the country. Yes, when he thought about the projector to enhance the learning process,... Read More...