These last few months have been characterized by uninvited change, uncertainty, and unrest. It’s a tough time to be a business leader.
More businesses are shifting to permanent remote operations. There are no guarantees for long-term employment. And rapidly changing technology advancements—including AI-driven automation, BI and data analytics, and cloud-based business models—are disrupting the status quo.
These disruptions are forcing us to shift priorities and cultivate new skills. As leaders, we’re being confronted with our shortcomings and challenged to rethink the way we do business.
The workplace is changing. The workforce is changing. Technology is changing. And to keep up and move our businesses forward, we must:
- Innovate and explore new possibilities.
- Embrace new ways to collaborate and communicate.
- Cultivate greater emotional intelligence.
- Prioritize diversity and inclusion.
- Make technology accessible.
- Transform company culture.
Business growth amid uncertainty
Many past predictions about the future of work have become our current reality. And businesses that failed to digitally transform yesterday are struggling mightily today. Yet some forward-thinking businesses have seen growth even in these uncertain times.
Historically, the strong, willing, resilient, and innovative have found ways to consistently rise to the top. Those who are willing to be uncomfortable—to be agile, creative, and flexible in spite of their discomfort—can once again pull ahead of the pack and grow exponentially.
But this growth isn’t arbitrary, and it’s not based on individual action. To build a scalable business, growth and change must be timely and organizational. We’re living in a time when 85% of the jobs in 2030 may not exist yet. So we must align our growth strategies to the changing workplace, emerging technology, and the demands of an evolving workforce.
Four critical investments
Sure, there’s a lot we don’t know right now, but we do know that the investments we make today will directly impact our businesses tomorrow. Here are four of the most important investments we can make:
1. Invest in people.
Managing a modern team is hard work. But the time and money we spend to onboard, train, equip, and support employees can pay long-term dividends. Oftentimes, this investment pales to the costs required to replace a skilled worker.
2. Invest in culture.
Happy employees are 12% more productive. Disengaged employees can wreak havoc on profits and productivity. And today, more employees seek meaningful work aligned to their core values, and they’re willing to leave jobs that don’t align.
3. Invest in technology.
Businesses that adopt a cloud-centric business model shift liabilities and mitigate risks. Employees can access data and critical assets. And teams can work together from anywhere.
4. Invest in security.
Security threats are ubiquitous. And on average, it takes 197 days to identify a network breach. But with zero-trust security, we can keep data, users, and devices safe.
Leveraging modern technology
As remote work becomes more common and the line between home and work is less defined, we must continue to refine our IT strategies. The modern workplace is no longer location-based, and digital workspaces have enabled us to bring geographically distributed teams together. And cloud-centric business models have granted us easy access to a global talent pool at reduced costs.
Today, the power and possibilities of data and business intelligence to transform modern businesses seem limitless. With AI, we have the potential to exponentially improve productivity and automate repetitive tasks. And with machine learning, information becomes useful; we can glean infinite insights to build better businesses.
With modern technology, you can accelerate business growth and keep your company secure. So rather than resist change or fear the unknown, leverage strategic technology to:
- Make informed, data-driven decisions.
- Free up time to focus on growth.
- Increase productivity and reduce costs.
- Gain access to a global talent pool.
- Secure your investments and mitigate risks.
- Make decisions that not only make fiscal sense, but support the health, well-being, and betterment of your employees.
The future of work is still to be determined. But as forward-thinking business leaders, let’s work together to shape it and to redefine the modern workplace.
For more, downloadThe future of work | Roadmap to a modern workplace.