Isn’t it time you took confident steps toward digital maturity in your company, without giving the technologists all the power?
Companies across the world are reacting to an increasingly digital market environment by adding roles with a digital focus or altering traditional roles to have a digital orientation. Despite the expansion of digital roles and responsibilities, companies still feel they aren’t prepared for disruptions.
Digital disruptions are happening regularly, and if your business isn’t prepared you could become obsolete. Use these four strategies to ensure the longevity of your business in an ever-changing digital world:
Case Study: CVS Health Corporation’s digital capabilities landed it on the Fast Company magazine list for most innovative organisations in the world. Yet, the business doesn’t emphasise digital skills, or have a digital division or a senior executive presiding over a digital profit-and-loss.
Digital transformation has reached a point where it isn’t limited to separate digital divisions or channels, but is used across companies to support strategies that focus on opportunities. Digital leaders need to inspire, manage complexity, and develop distinct cultures in rapidly changing environments.
1. Do the hard work: Develop an effective digital culture
Digitally-mature companies need to constantly cultivate their culture. 80% of respondents from digitally maturing businesses say their companies are proactively engaged in bolstering risk taking, agility, and collaboration.
2. Focus on your senior-level talent as a priority
By giving your senior vice presidents, vice presidents, and director-level leaders the resources and opportunities to develop their own digital skills, you are more likely to retain their talent. On the other hand, 30% of leaders who don’t have those opportunities are looking to change jobs in less than a year, according to the global survey.
3. Digitally maturing organisations invest in themselves
75% of digitally maturing organisations surveyed provide their employees with resources and opportunities to develop their digital acumen, compared to only 14% of early-stage companies. Success breeds success, and if you want to achieve competitiveness, you need to invest in your people.
4. Know the difference: Soft skills versus technology knowledge
The most important skill for leaders according to the respondents is:
- Transformative vision (22%)
- Forward-thinker (20%)
- Change-orientated mind-set (18%)
- Leadership and collaborative skills (22%).
Only 18% listed technological skills. Revealing that your team isn’t looking for an IT buff, they’re looking for leaders who can take them forward.