Digital tenacity is coming of age for CEOs. Traditional stalwart industries like manufacturing, banking, retail and automotive have already become significantly, or indeed completely, transformed by digital, with many sectors increasingly likely to follow suit.
According to Gartner’s latest survey results, 42% of CEOs are now actively pursuing digital transformation efforts in one form or another. Of the 388 CEOs surveyed, 47 per cent said they faced pressure from their board of directors to make progress in this area.
The key statistic from the study however was that 56% of CEOs said that digital improvements have already increased their profits, proving that the approach is paying dividends.
These widespread technological advancements are nothing short of a rallying cry to business leaders to embrace and accelerate digital transformation, and find relevant and innovative ways to continue growing their business, or else risk being swept aside by the relentless digital storm.
As companies shift towards a greater dependence on digital strategies for commercial success, CEOs have to demonstrate responsible and responsive leadership during this period of seismic digital disruption, thus enabling human talent to continue to thrive. When planning and incorporating digital change however, employers must also understand how it is likely to be perceived by the wider workforce.
Reassuring employees and implementing a structural framework that lends itself to skilling them up accordingly with the tools they need to shoulder these new digital developments is priority number one for CEOs.
Emphasis needs to be placed on establishing transformation programmes offering workers the appropriate training opportunities and engaging digital experiences to benefit both the employee and the organisation in the long term.
Interestingly, BMC’s own research conducted with Opinion Life found that many UK workers do not believe they are capable of keeping pace with the speed of technological change consuming their industries.
Almost half of respondents we surveyed (40%) said their lack of the necessary digital skills was a contributing factor to the concern surrounding workplace of the future. Fortifying the digital abilities of workforces is crucial to help employees acknowledge the necessity for deep digital business transformation and embrace the innovative opportunities it has to offer.
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In order to stimulate greater employee focus and strengthen productivity, an enhanced digital workplace culture that fosters collaboration, versatility and entrepreneurial spirit is crucial.
Team collaboration platforms are a great example of this combination in action: simply by distilling down the process of communication and digital processes into contemporary chat-based tools, technology becomes the enabler that forms the nucleus of cultivating greater workplace productivity.
The role of the CIO is integral to this transformation. Just as businesses’ broad approach to digital is changing, so too have CIOs been compelled to adapt to the shifting parameters of the commercial landscape and lead digital transformation endeavours.
Deloitte’s 2016-2017 global CIO survey highlighted that CIOs can have the most positive impact internally by aligning business strategy to wider performance and measurement goals. Maximising success across business rests therefore on CEOs and CIOs working in conjunction to scale up digital goals.
Those CEOs that zone in on using technology to provide their employees with the economic and social benefits already established by the digital economy will be able to handle the rapid evolution of our global business environment head on.
The digital revolution has the potential to improve productivity and overall success across the business community. For this to pay off however, business leaders must make it their responsibility to encourage and enable digital change.
Sourced by Paul Cant, VP of EMEA at BMC Software