Millennials are the last generation experiencing the change from analog to digital.
The business landscape is witnessing an era of digital transformation. Initially driven by compliance requirements, digitization and process automation have now moved to center stage. To successfully steer the organization through disruptive times, organizations need leaders who are comfortable with the disrupting world and who effectively manage disruptions.
On day two of People Matters Talent Tech Evolve- a three day virtual conference on HR technology, eminent leaders like Bhawna Agarwal, CEO, NDTV Gadgets, Ketan Kapoor, Co-Founder & CEO, Mettl, Sanjeev Prasad, Global CIO, Sutherlands and Prashant Bhatnagar, Director Human Resources, Credit Suisse shared how the digital transformation is impacting organizations and how leaders can lead this change.
Impact of change:
The leaders in the panel agreed to the fact that the speed of change is extremely rapid and organizations cannot take this ongoing disruption caused by the advent of technology for granted. The businesses have been witnessing the transformation in the business landscape since thirty years. The only difference is the speed of change is extremely rapid, and individuals have less time to adjust to these changes.
Sanjeev Prasad shared, “With the digital transformation, a lot of new roles will be created, and many jobs will get dissolved. And the challenge for the organizations will be to handle unemployment since the new roles require people to get skilled on new age competencies like Artificial Intelligence, Analytics, etc. which will require a high level of education and knowledge.”
Bhawna Agarwal shared, “Digital is the new novel and to embrace this transformation, thinking creatively will not do enough. Businesses need to reinvent themselves to integrate technology into their system.”
The Digital Leaders:
“As leaders how do we solve the problem without having the first-hand experience?” is a challenge faced by many leaders to sail their business through the ongoing disruptions.
The experts suggested the following practices from their experiences to lead the organization through this change:
- Challenge the status –quo and not protect the status quo
- Be at the top of things- Invest in learning and know about things that matter to the business. Be the subject matter expert
- Collaborate- While tracking individual performance is important, the leaders need to motivate people to collaborate and measure the team performance
- Adopt humility and humbleness in your leadership style- Give enough flexibility to your employees to innovate. Trust your people and let them the custodians of their work.
- Integrate technology in the culture- Make technology the part of people’s lives. Embrace technology and don’t see it as a challenge.
“When the external eco-system is changing faster than the internal eco-system of the organization, the leader should know it is a dangerous situation to be in.”