For organizations today, success is measured by more than the expense-to-income ratio. Executives and leaders aim to reduce costs while improving efficiency. Of course, they want to grow, but they also aspire to increase customer satisfaction in parallel. These terms represent the story of change – the story of quality and performance excellence. To accomplish these goals, to create a culture of quality and performance excellence, it’s important to consider three key elements.
1. The Catalyst for Quality and Performance Excellence
To create a culture of quality and performance excellence, it’s essential to understand the important role that digital business transformation plays in driving business forward. Digital business transformation means disrupting businesses in every industry by breaking down barriers among people, businesses and things to create new products and services and find more efficient ways of doing business.
Here’s an example: When Dundee Precious Metals connected equipment across its mining operations to collect real-time and historical data, insights from the data allowed the organization to quadruple production of precious metals annually, save $2.5 million over two years and improve safety conditions for miners using location tracking. This is just one example of how digital business transformation has driven quality and performance excellence; other examples abound. In order for digital business transformation to occur, it’s crucial that talent, technology and teamwork are aligned.
2. Aligning Talent, Technology and Teamwork
There’s a popular belief that digital transformation is driven by technology alone, and it’s certainly true that technology plays a role in the digital transformation equation. But what’s below the surface, driving digital business transformation goals? It’s essential that technology, talent and teams are aligned, working in lockstep to move the organization forward.
What’s the holdup? According to Forrester’s 2015-2020 “State of Digital Business” report, only 16 percent of organizations feel they have the right talent in place, 21 percent feel they have the right technology in place, and 14 percent feel they have the right processes or teams in place to succeed in digital.
Yet, in the same study, executives predict that 47 percent of revenue will be influenced by digital. It’s a conundrum that speaks to the need for investment in developing, training and retaining talent. It’s an ongoing process to drive continuous change while keeping the workforce engaged.
3. Continuous Learning for Engagement and Change
To keep the workforce engaged in the midst of change, it’s important to use continuous learning as a key strategy. According to a recent report from LinkedIn and Capgemini, 55 percent of “digitally talented” employees are willing to change organizations “if they feel their digital skills are stagnating.” The modern workforce, millennials especially, crave professional growth opportunities in their jobs. In fact, 87 percent of millennials rate professional growth and development opportunities as important to them, according to a report from Gallup.
Since learning is no longer a point-in-time undertaking, it’s crucial that employers provide access to continuing education through learning, training and certification programs. It’s one of the best ways to keep employees engaged and up to speed on the latest digital skills so that they can help initiate digital business transformation and achieve business goals.
How can you create a culture of quality and performance excellence in your organization? How can you help accelerate your company’s story of change, of growth, of customer satisfaction, of efficiency? Digital business transformation is a key strategy to help you get there, and talent is the crux to driving successful business outcomes. By equipping talent with continuous learning, training and certification opportunities, your organization will be positioned to meet your workforce’s aspirational goals and realize the benefits of digitization.
Tejas will be presenting a session on “Talent: The Best Kept Secret in Business Transformation” at the 2018 Training Industry Conference & Expo. Learn more.