Impact of Digital Transformation on Business
We can no more underestimate the impact of digital channels on consumer behavior. With digital spending growing at the speed of light, the importance of capturing the digital real estate is on every company’s agenda.
From the studies conducted by BCG, we learn that if the organizations are not prepared for the on going change, they are less likely to survive in the digital centric future. Specially in the sectors where digital channel optimization is deemed to be top notch (finance, retail, education and more). On the other hand, the companies that digitally transform themselves now, will have a substantial advantage and will be hard to compete with.
WHY THE SHYNESS?
The major road block is the digital transformation has still not found the adequate leadership and formal guidelines in the organizations. The lack of formal effort by business and stale vision has rendered the organization loose.
In a recent study by McKenzie group, more than 68% employees believed that their CMOs ( Chief Marketing Officers) lack latest digital skills and are not technology oriented. This is because the senior management might not necessarily be very tech savvy, however, they are not exactly deploying funds to source competent marketers.
There is a minority share of companies that are investing in the training of their staff to absorb digital transformation, but, their actions are rendered futile because employees believe the level and quality of training is insufficient. The training methods and materials aren’t up to date or aren’t readily available when needed. This phenomena is called Digital Spending Gap, which further results in lesser time allotted to hone digital skills and fewer initiatives taken
On top of this, only 10% of the employees believe that human resource division has implemented a recruiting or training program specifically targeted to digital skills.
THE GOOD NEWS?
Although a plethora of companies are still sourcing digital skills the old way, I.e. training their employees and implementing policies to digitally transform, we have reason to believe that not only is this option costly and time consuming but it is not well accepted by the employees of the firm as well.
Be Able to Align Yourself to Company Culture
An unbelievably necessary quality in any prospective worker, and one that's typically unmarked, is that the ability to suit in with an organization and its culture. Every organization has its own distinctive culture, associate degreed in an trade where team members work terribly closely along, being an honest work for the company’s culture, temperament, and dealing vogue is unbelievably valuable.