It’s so exciting to see how we are all becoming more and more digitally connected in our private and business lives. There’s no stopping being digitised! In 2015, digital accounted for 22% of the world’s economy, based on research from Accenture. But this rapid growth is only set to grow, so much so that Accenture is predicting that by 2020, it will increase to 25%, up from 15% in 2005. How digitally engaged are you, your staff and the entire company?
Cap Gemini describes companies who have really embraced the digital revolution as “Digerati”. Apparently, Digirati have significantly higher financial performance than their less digitally-mature competitors. I’m not in the least surprised by this figure or by those in the Accenture report, so I do think it’s now more important than ever for companies to have a clear understanding and clear goal for how they want their digital organisation to look and the benefits they can look to deliver from being digital. But to do this ultimately means having buy-in and understanding from the top down.
Digital transformation for any company, whether it’s the multinational or the SME, impacts every role within the business in one way or other, so it’s essential that everyone understands and is engaged in the process. Business leaders and senior management in particular need to understand the digital landscape as by doing so they can prepare their staff accordingly, whilst at the same time still continue to share their experience by collaborating with the digitally-fluent millennials.
Prepare your staff for the digital future
Digital businesses are never static. The flexible and agile processes and procedures are the key hallmarks of successful digital companies.
Bottom line, I think if companies and leaders keep their eye on the final goal, the adaptations they can and need to make to all parts of their business, will help to deliver greater flexibility, lower costs and greater customer and staff satisfaction.
I think companies need to decide just how far they want to move away from the traditional business model and established approaches they use for different parts of their business and services they offer. They don’t want to lose all the things that currently make – and first made – them successful in the first place. But equally, they shouldn’t take too much time to think about it; otherwise they risk being out-run by their digital competitors.
