Digital transformation is a critical goal for your organization, but are you set up for success?
Deloitte found that 74% of organizations said that they had a digital strategy—but they were lacking in execution. Only 15% of companies believed that they were equipped with the right people and skills to succeed in a digital environment.
That likely accounts for the low rates of success in digital transformation: McKinsey found that less than 30 percent succeed in meeting their goals.
However, those that were successful in their transformation efforts had a few elements in common, which McKinsey breaks down into five categories:
Having the right, digital-savvy leaders in place
It’s important to include a committed leader who has past experience in digital technologies and understands how to align different teams’ priorities together.
Building capabilities for the workforce of the future
Companies that have committed to develop their employees’ talents and skill sets in line with emerging technologies are well-primed for digital innovation.
Empowering people to work in new ways
McKinsey’s research found that teams were 1.4 times more likely to report success when they were given the chance to determine where digitization could be adopted within the company. They also saw more success in continuous learning or open work environments.
Giving day-to-day tools a digital upgrade
McKinsey found that one of the leading contributors to success was adopting digital tools that made information more accessible across the entire organization—this more than doubled the chances of successful transformation.
Communicating frequently via traditional and digital methods
Finally, clear communication is key. Employees benefit from a “change story” that successfully articulates what the organization is planning, why it’s changing, and why the changes are important. It’s also important that all stakeholders conduct a sense of urgency to their teams and are able to clearly explain why things are being done as they are.
In order to streamline the digital transformation process once your strategy and team are in place, consider using a knowledge-sharing platform, which can serve a critical function by enhancing internal communication and collaboration. By using a knowledge-sharing tool, stakeholders in your digital transformation process can energize and share insights with their teams and with the organization at large, giving everyone a clear picture of the goals and how to deliver the best results. By ensuring that everyone within the company is engaged throughout the process and has access to the information they need, you can make sure your digital transformation project goes according to plan.