TRANSFORMATION SCHRANSFORMATION!! Haven’t got your corporate self-disruption going yet? Why not? Digital Transformation is not an option. It is a NECESSITY for corporate survival. Every industry is included and EVERY company. What progress have your competitors made? This can help you determine just how urgent your situation is.
DISRUPTION DAY. As insightful cultural anthropologist Grant McCracken nicely put it ‘‘There’s a disruption out there with your name on it!’ Acknowledging and advancing the business based on future technology realities is CRITICAL for survival on multiple levels.
Consider accounting and law firms for example where artificial intelligence, machine learning, and automation are affecting:
(A) Revenue Streams: Auditing revenues are being disrupted as drones become able to check inventory and machine learning can analyze patterns in data (ongoing vs snapshot) for inconsistencies and anomalies. Where could technology create new revenue opportunities AND how/when will audit staff be reallocated where human judgment is valuable?
(B) Entry/Lower level jobs: These have historically been valuable training grounds. As technology automates away many of the most tedious and repetitive data input tasks, there may be fewer lower level positions with different responsibilities and learning potential. What are the essential experience/skills for younger cohorts before they can advance/be promoted and how will they attain these?
PROCRASTINATION PROBLEM. Not addressing technology changes doesn’t alter their effect. It doesn’t reduce the need to carve out essential time to strategize new revenue possibilities and ways for younger employees to gain relevant experience. However, it DOES change the potential to hire good talent.
If candidates are tech-savvy (especially Millennials) and or looking closely at the tech impact on industries, they will be aware of the challenges for laggard companies and the likely limited prospects for themselves in the most at-risk positions.
If your company could benefit from deep knowledge about workforce and workplace changes so you can futureproof your business, email sophie.wade@flexcelnetwork.com
How many low level jobs are being partly/wholly-automated away in your company? Org charts are evolving from bottom-heavy triangles to be more column-shaped. How will new hires learn on the job? How are you adapting career progress?