New technological advances in the workplace are transforming organizations in terms of their systems, processes, and people. The digital age has arrived and organizations are now working to develop strategies to keep pace with the evolution of their industry. Success in the digital landscape will require a combination of many factors including innovative processes, engaged talent, and new business models. Unfortunately, while 90% of business leaders expect their industries to be disrupted by digital trends, only 44% think their businesses are adequately prepared for the changes ahead.
In order for organizations to initiate and maintain an organization-wide drive towards digital, they will need to have the right people, in the right roles, with the right tools to make a difference.
The Right People
Recruiting top talent is no easy feat in today’s job market. The talent shortage is a significant factor, especially in the technology sector. Many organizations are struggling to find qualified candidates that can help drive future innovation. These candidates must be, not only tech-savvy, but also adaptable, collaborative, and forward-thinking. This combination is difficult to find in many industries. However, 71% of organizations that are already “digitally mature” find that they are able to attract new talent as a direct result of their use of digital technologies. If companies are able to plan their digital initiatives ahead of time, they will be able to proactively identify talent needs and begin recruiting new employees or developing their current employees.
The Right Roles
As processes and systems for organizations evolve, so do the roles that are responsible for managing them. New positions centered around digital functions have emerged, including: Chief Digital Officers, Digital Engagement Managers, Digital Finance Managers, and more. Even if a positions title remains the same, the requirements of the position are likely to be vastly different than they were 10 years ago. Virtually every position must now have some degree of tech literacy that enables them to use the modern tools available for increased efficiency. For example, an HR Manager’s job description in today’s market would include mention of HRIS management, Online Benefits Enrollment experience, and Workforce Analytics.
The Right Tools
Data from MIT and Deloitte’s recent study suggests that organizations that arm their leaders with the digital tools and training they need to succeed will be more likely to retain their talent. On the other hand, 30% of leaders that were not offered the same tools and training were planning to find new jobs in less than one year. Organizations that do not see the value in investing in their talent may experience retention issues and will often turn to contractors to accomplish their more technical initiatives. This can create a disjointed digital infrastructure with disengaged employees. Heavy investment in technological tools and talent development is the key to succeeding in the digital business environment.
The digital transformation can result in process improvement, talent acquisition and retention, as well as the overall strategic differentiation of an organization. However, the evolution into a digitally mature business is no easy feat. In order to truly advance and keep pace with digital technologies, organizations will need to align digital goals with overall organizational goals. Aligning goals will enable leaders to proactively map out priorities and establish a roadmap for the drive towards digital. With a solid plan in place, organizations can overcome the challenges of a constantly changing digital landscape by developing talent, restructuring positions, and investing in technological tools that redefine their business.
Is your organization ready for “the digital future”?