4 Tips to Successfully Lead in the Age of Digital Transformation
As we hurtle towards an even deeper, broader, more sophisticated and increasingly opportune age of digital transformation, it’s essential that someone is able to steer the ship towards long term success. And if that’s you, there’s little doubt that you have an colossal task on your hands.
According to IDC, by the end of 2017, two-thirds of the CEOs of Global 2000 companies will have digital transformation at the core of their corporate strategy. What’s more, 55% of companies without an existing digital transformation program say the timeframe to adopt one is a year or less.
It's clear that there is a particular urgency to transform digitally in the modern age, and for the modern business leader, there are a number of elements to consider to ensure its a success.Without further ado, here are our five tips to successfully lead in the age of digital transformation:
Without a solid process in place, digital transformation is just a notion. Get key members of the executive team together to discuss a plan for moving forward with your digital transformation strategy, considering how these changes will affect both the business and the end user.
By taking a collaborative approach to your plan, identifying organisational weaknesses, team structures, data acquisition, company culture and emerging technologies, you’ll be able to put a process in place that is not only effective, but is sustainable too. Digital transformation is an enterprise-wide venture, so make sure you remain open and collaborative at all times.
Digital transformation, by its very nature, means an incredible amount of change, which in turn, means an incredible amount of learning.
Understanding how to utilise disruptive technologies and adopt new methodologies is essential to a successful transformation, and as such, it's critical that you give your staff the skills to evolve with the changes. According to a recent report, 65% of CIOs confirm that a skills shortage is holding them back and more than 50% feel that developing or acquiring new skills is a high priority. That’s quite an alarming number.
By holding regular forums or skills workshops where your team can voice any concerns, opinions or share new skills or knowledge, as well as fostering a culture of continual learning, allowing your team to upskill on a permanent basis, you’ll create one inspired, engaged and cohesive team to drive the business towards prosperous digital enlightenment.
At present, millennials make up almost 20% of executive positions. And this tech-savvy, forward-thinking generation of digital natives are reshaping the workplace as we know it.
By developing the experience and confidence of your most talented millennial team members and focusing on giving them the tools to accelerate to executive level, you will form a solid base for the ongoing success of your digital transformation.
Having millennial executives will not only serve to diversify your company culture, but it will also empower them to bestow new knowledge and fresh innovations to more traditionally-minded senior staff members. This, in turn, will help your business thrive in the digital age.
78% of digital winners state that they make decisions that are data-driven, compared to 55% of all companies.
With a wealth of data available at our fingertips, it’s possible to gain deeper insights in a host of areas than ever before. To lead successfully in the age of digital transformation, it’s imperative you use both consumer and company data as well as analytics to make informed decisions on the future of the company and its migration into the digital world.
"As leaders, we must create an environment where people thrive by enabling them to make data-driven decisions quickly, reducing complexity and bureaucracy, and embracing diversity and inclusion," Ettling said in the press release. "Digital is not just about adopting technology—it's about creating a culture of innovation, where exponential outcomes are not just possible but demanded." - Mike Ettling
Digital transformation is happening right now and to avoid getting left behind, it’s imperative that you act now, steering your ship to a bright and prosperous digital future.
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