Although a tech-enabled and digitally sound business is ideal, most companies are struggling to deliver them even today. CIOs look forward to overcoming building pressures to improve the user experience, accept more secure and sustainable solutions, and enhance the employee experience. It is time to understand where to invest, how to define your business ambitions, design your approach, and orchestrate sustainable changes.
Businesses must continuously monitor the most recent digital transformation trends in the market. Organizations must strive to implement the technologies that help them run them efficiently if they want to remain agile and achieve a competitive edge. Undoubtedly, the digital transformation journey is challenging; however, with the ideal strategy in place, organizations might benefit from the same through streamlined internal operations and automating labor-intensive tasks. Digital transformation is not about changing how an organization does business; it is about changing how they survive in the market. Therefore, it involves four main areas: data, technology, people, and processes.
"Digital talent" is a trendy way to refer to technical experts, specifically in roles like programming, data, and automation. Any professional, from developers to project managers and even business leaders, has a knack for technology, and helping an organization with hr digital transformation is digital talent. According to a recent report, over half of enterprise companies state that a lack of digital talent prevents them from achieving their goals for digital transformation.
It indicates that there isn’t enough digital talent to meet the organizations' demands. The best thing organization leaders can do to bridge the gap is to invest in a radical talent transformation program. Besides helping your business thrive with digital talent, the program also boosts employee productivity and engagement. When an organization’s workforce, including the employees, practitioners, and leaders, includes all the talent your organization requires for innovation and success, anything is possible. Various organizations offer nanodegree programs that help your employees build their technical skills to become your organization's digital talent.
Unfortunately, many companies are falling behind. Some think it is too late to start, and only 30% of companies can successfully navigate a digital transformation. Undoubtedly, it will get tougher as digital technologies keep evolving, and customers will leave the brands that do not operate online-whether for e-commerce or customer service. Here’s how digital transformation offers ways for your organization to survive and grow efficiently.
Leaders who have run their businesses for years know that executing any operational process is extremely time-consuming. Businesses cannot spend most of their precious time on redundant processes, such as operational ones and others. Adopting digitalization, cutting-edge, and new-age technologies, business operations like communications, data storage, and analytics can become more adaptable and collaborative in turn, which helps maximize results.
Digital transformation offers a strong customer base and boosts customer engagement, efficient processes, and automated workflows. Therefore, there’s no surprise that companies implementing digitalization find it easier to grow and expand. An organization without an online presence probably generates sales through its retail stores and word of mouth. However, businesses will attract more customers with a robust, optimized website. They now have more opportunities to promote their products, generate more sales, and reap profits. Moreover, by tracking their behavioral patterns and the feedback of their existing customers, they can create more products that appeal to their clientele and scale their business accordingly.
Since digitization streamlines your processes, you no longer need to worry about unexpected bottlenecks. Digital processes allow a faster flow of inter-departmental information, eliminate redundant tasks, and improve the overall efficiency of the business. In turn, the entire process helps with cost optimization associated with complex and time-consuming workflows. The digital transformation of an organization prevents the bottlenecking of data and information. Furthermore, streamlined processes and increased efficiency mean that organizations can adjust workflows quickly and easily, depending on the changing priorities and goals of their business.
Since most people fear change, the thought of an organization undergoing a massive digital transformation can be a daunting prospect for its workforce, from organizational leaders to entry-level employees. You must address all processes and strategies to the core structure and company culture. However, it paves the path for an opportunity for unity throughout the workforce. To maximize the chance of a successful switch, your organization must have strong communication from leadership and a focus on employee experience.
As employees experienced burnout and increased workloads during the pandemic, most chose to quit their jobs or change careers. Moreover, with the reduction in talent, especially digital talent, you can see that many transformations might experience hampered progress when organizations want to accelerate. Then, what’s the solution? Organizations must support and guide their staff during the digital transformation journey. Employees must also understand the purpose of the transition and see it as a benefit to customers and the company. With the right training and tools, employees can bridge the gap and social divides to engage in conversations and learn together. Organizations with a solid leadership mindset and clear guidance can efficiently improve the digital intelligence of their workforce and encourage collaboration.
The obsession with the latest technology, social media, and applications revolves around a desire for an easier life. Organizations and leaders are searching for valuable solutions to their problems at a faster rate. Customer experience is at the heart of digital, especially for customer-facing industries like government, healthcare, retail, and manufacturing. Therefore, the primary focus of digital transformation involves using cutting-edge technology to improve the customer experience.
From email communications to user portals, digital products, and even cadence that helps businesses reach new prospects, digital transformation delivers more seamless, intuitive customer experiences. Customers have high expectations for digital experiences. They love receiving endless choices, low prices, and faster delivery. Customer experience emerged as a new battleground for brands. Over two-thirds of companies state that they are competing mostly on customer experience. One way to differentiate your brand from competitors is by valuing your customers' privacy.
With the continued growth of new digital technologies, the demand for talent development increases. A report published by the World Economic Forum found that, on average, companies estimate that approximately 40% of workers require reskilling within six months or less. On the other hand, 94% of employers expect their employees to develop new skills on the job. Experts expect that the future of digital business will be heavily built upon soft skills, such as critical thinking, problem-solving skills, and self-management, such as active learning, resilience, stress tolerance, and flexibility. Digital transformation demands new skill sets among employees at all levels and across departments. Organizations are offering continuous training, which helps staff develop skills for the future and equips their businesses with the in-house knowledge to sustain growth and a competitive edge in the digital age.
Let’s look at the top digital transformation trends that organizations must adopt and that will change how businesses deal with digital operations management.
Process transformation, or business process transformation, is like reengineering the business process. It enables your organization to develop operational efficiency and accelerate the time-to-market for your products and services. It also introduces a complete change of business functions, workforce, and technology per tactical business demands. The transformation's primary aim is to innovate and adopt new capabilities, technology, and concepts. It involves evaluating the steps required to enhance the outcome of business processes by streamlining business functions and workflows.
Organizations planning to implement a major upgrade of existing processes are adopting process transformation methodologies. A successful business transformation means the organization will thrive and grow by implementing innovations. Process transformation working for your organization brings significant and positive changes in operations, culture, and go-to-market strategy.
Cultural transformation helps organizations evolve their culture to achieve their strategic objectives. It is essential to ensure a positive employee experience in the workplace. Cultural transformation begins when an organization recognizes that its current culture is misaligned with its vision, mission, core values, and strategic objectives and realigns the culture.
Although organizational culture seems intangible, it’s crucial to the life and sustainability of your organization. If your organization has a strong culture, it can survive even the toughest competitiveness in the market and boost employee and customer retention and talent acquisition. A successful transformation changes your organization’s culture into one that supports the mission, vision, goals, and employee empowerment.
The emergency decision to shift to a remote working model for several employees during the pandemic today evolved into a widespread and likely permanent model. In this model, employees can divide their time flexibly between home and office. Today, organizations are in a phase where they are working out precisely what type of hybrid model works for them.
Undoubtedly, some businesses might lean closer to traditional working practices than others, depending on their sector and occupancy. The digital transformation of hybrid workplaces focuses on creating and servicing distributed enterprises with a mix of office- and home-based employees. Experts estimate that approximately 75% of organizations that exploit distributed enterprise benefits might experience revenue growth 25% faster than their competitors.
Domain transformation
Through this digital transformation trend, organizations can consider entering new industries. Entering a new market offers businesses numerous growth opportunities while sustaining their primary market sector.
For instance, the famous e-commerce company Amazon developed Amazon Web Services, which emerged as one of the largest cloud computing providers worldwide. The new domain of Amazon generates billions of dollars in sales. The brand-new market developed by the e-commerce company utilizes its pre-existing capabilities.
With the development of technologies, such as artificial intelligence (AI) and the Internet of Things (IoT), domain transformation potential exists in several industries.
Automating various business processes will become the primary focus of digital transformation efforts in 2023 and beyond. It ranges from simple tasks like human to-do lists to creating composable, event-driven IT architectures. Workflows in event-driven IT architectures are sure to leverage low-code or no-code, and AI and ML technologies go down under the banner of hyper-automation. This, the experts describe as a business-driven, disciplined approach that most organizations can rapidly identify.
Some research further states that the top-performing hyper-automation teams focus on three priorities. These include improving work quality, accelerating business processes, and boosting decision-making agility.
Organizations are consistently working to transform their workforce digitally. With the latest predictions, you are set to deliver steady, high-value solutions to your customers and foster happier, more productive teams. Besides, by adopting digital transformation trends, you can improve operational efficiencies at every step.
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HR digital transformation is the conversion in the way HR functions, using data to guide all areas of HR like payroll, benefits, and performance.