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Technology

Digital Transformation 2022

iStock 1272298861 - Global Banking | Finance

By Dave Page, Acutal Experience CEO

The C-Suite still remains unprepared for hybrid working 

Hybrid working is more than just a buzz word, it is a reality and despite the developments of the last 12 months, many businesses are still completely unprepared for this transition.

This is backed up by evidence found in  Reconfigured, a report from People Analytics and consultants, Actual Experience. Reconfigured has shone a light on how organisational concerns and a lack of digital transformation knowledge and awareness, still exists at C-Suite Level

Actual CEO, Dave Page examines the outcomes of this research and outlines how businesses can prepare themselves for one of the most crucial ‘business trends’ of 2022…. Digital Transformation.

The numbers, at a glance 

The reality of what we have uncovered is that many organisations simply are not prepared for the future ways of working. Despite the last 18 months of discourse, they are still worried that new hybrid working models will only introduce more inequality across teams and individuals.

Our findings show that 67% of C-Suite representatives feel this way. This is compounded with the findings that 24% said they were either ‘not very’ or ‘not at all’ effective in understanding the link between digital tools and employee wellbeing.

In fact, less than one in five (18%) say they have a ‘very good’ understanding of the digital requirements of employees, which is no surprise given that less than half collect and analyse data about how their teams work. Although 55% of business leaders consult with other managers about the future of the workplace, just 40% consult with employees.

Utilising real-time data 

What our research has uncovered is that most companies do not know enough about performance. Most businesses are just not utilising the right information to manifest positive change.

Moving forward organisations need to be honest and open and this starts from the top.

By collecting real honest feedback and working data, and reacting swiftly to resolve issues, businesses can begin adapting to hybrid models. It does not matter what your end goal is, this is the first step in the hybrid working journey.

Understanding Individual Needs 

An efficient team can only be so if each of its constituent parts are operating with as much flexibility and fluidity as possible. So, it is fair to say that the needs of the individual must be met to best facilitate the wider team.

This can be approached with a simple and straightforward discussion between leaders and their teams and starts with a quite simple question – ‘what do you need to best perform your duties?’

That could be anything from an improved home internet connection, some new hardware or making office hours more flexible. What is important is that needs are listened to and properly acted upon within an acceptable period.

Breaking down management silos 

There is currently organisational confusion around who is responsible for hybrid working and the data shown in our research makes this point irrefutable.

In our survey, 65% of our respondents say that there is no single executive who owns the future workplace in their organisation, as the topic is simply too big. When no single individual takes control of something so significant then all too often these matters fall by the wayside. There is a new topology in leadership teams, and they must collaborate and connect in different ways from before.

By breaking down management silos, re-addressing roles and responsibilities and establishing new channels of communication, organisations can finally start to prepare themselves for maximum hybrid efficiency.

CIO & CHRO empowerment 

With management silos broken down, the question remains; who is responsible for leading the charge on digital transformation?

The wider C-Suite must devolve aspects of responsibility into CIO and CHRO roles, jointly empowering both to lead on digital transformation.

Moving forward, what is required is a joined up strategic approach, combined with a top-down re-assessment of resource and assets. As well as a complete overhaul of practices and working cultures, with a priority on fast and effective HR problem-solving.

In Summary

To achieve success in digital transformation requires nothing short of a huge, concerted effort from every part of an organisation.

Everyone needs to be aware of the strategy, the policies, and the vision. They also need to be aware of the channels of communication – this part is particularly important for those communicating upwards within an organisation.

Once everyone is aware of the strategy and the tactics for transformation, then it becomes far easier for everyone to pull in that same direction.

Global Banking & Finance Review

 

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