Digital transformations frequently begin strongly at the top but lose steam as they cascade to the frontlines. Leaders must transform business cases into an inspiring vision that resonates throughout the organization – and then model it.
Fremont, CA: Digital transformation is most likely the most significant investment that modern organizations are making. Several sources estimate that global investments will reach several trillion dollars in the coming years and that this figure will continue to rise. When only 17 countries in the world have GDPs in excess of a trillion dollars, that's a massive investment that's not paying off.
Only 17 percent of workers in the United States strongly agree that their company readily implements new technologies that help them be more productive, according to a recent study, and only 22.5 percent of employees in Spain, Germany, France, and the UK strongly agree that their company upskills them to make effective utilization of new digital technologies.
Without employee support, the digital battle is lost from the start. However, leaders can improve the chances of a successful digital transformation by implementing the following strategic steps:
After assessing the existing gaps, leaders must prioritize the most critical opportunities to digitize their business model as well as focus on one or two initiatives. Aiming for multiple initiatives at the same time causes confusion and rarely yields positive results. The most digitally prepared organizations have a committed C-suite that transforms abstract opportunities into a few specific and measurable business cases with concrete timelines, meaningful KPIs, and adequate resources.
Digital transformations frequently begin strongly at the top but lose steam as they cascade to the frontlines. Leaders must transform business cases into an inspiring vision that resonates throughout the organization – and then model it. Most leaders struggle to inspire; in fact, only 29 percent of employees worldwide strongly agree that their leaders inspire them to be optimistic about the future. New digital initiatives will sputter if leaders fail to pique people's interests.