Leaders are encouraging their employees to keep the digital transformation a priority. Two years ago, leaders emphasized competencies during workflow resiliency, crisis management, and innovation. But today, leaders have different opinions in this regard.
According to the Institute for Business Value research, leaders and managers prioritize every business element and employee’s capabilities. However, things will completely change in a few years. Experts anticipate that we’ll notice a significant change in prioritization. This will scale cost management, security, and workforce safety in an organization.
1. A Boost towards Digital Transformation
Things are slowly heading back to normal. Businesses are returning to their offices, and only a few are still following the remote work environment. These companies identify workforce resilience and competitiveness. Since these leaders expect more from transformation initiatives, they are permanently adopting digital transformation. But, soon, more companies will transform their business work environment.
2. Transformation is More than a Precaution
For many businesses, digital transformation during COVID-19 was a safety protocol to maintain social distancing. But, things are poles apart from what these business leaders think. This shift was the game-changer, and businesses realized that it would sustain in the market. Therefore, leaders should focus on agility and adaptability to lead the industry. For instance, they can shift from production to in-demand personal protective equipment. Organizations should rethink and modify the supply chain industry. This is possible only with an accelerating pace to change.
A survey suggests that 59 percent of businesses digitally transformed their work environment due to COVID-19. Among those, 66 percent claim that the remote work environment was a success for them. That’s why many companies are adopting a hybrid work environment rather than a traditional in-person world place. The cultural shift is powerful as it reduces costs, improves productivity, and balances employees’ work and life.
3. Many Businesses Are Thriving Despite COVID-19
The pandemic had diverse impacts on different business industries. Experts refer to this type of customer environment as “K-Shaped.” This indicates that customer behavior is shifting towards some businesses than others. If you were following the stock market, you might have noticed a rapid increase in the value of some platforms. Meanwhile, others experienced a significant drop.
For instance, Amazon’s growth this month is 78 percent. The rise in the Amazon market helped numerous suppliers as they noticed more sales than ever. This example suggests that solo organizations can improve their sales in any condition. But the leaders should search for an optimal solution backed by digital transformation.
We are at a point where business acceleration is possible if you follow the right strategies. But, for many companies, change is not good enough. These companies realize that digital transformation and cloud adoption is important to thrive in the new era. Admittedly, COVID-19 has been a great help for digital transformation. If businesses follow the same road map and consistently evolve their approach, they can become the new leaders in the industry.