With market valuations of digital network business leaders such as Amazon, Facebook, Google, Netflix and Airbnb dwarfing those of comparable physical-asset-laden Fortune 500 rivals, today’s greater value has proven to be in the network. How is this so? Look at the time and cost efficiencies associated with moving from sole reliance on physically boxed and transported products to digitally delivered transactions (e.g., disk software to SaaS). Behold the savings that digital on-demand manufacturing can contribute by reducing total warehouse space and unsold or expired products. Look at what happened to some beloved encyclopedia companies and video stores that lacked the foresight to digitalize their assets.
In addition, the physical world permits us to connect with only so much at a time. In the digital Internet of things (IoT), far-reaching connections are virtually limitless and less expensive (in terms of cost and downtime) than driving to the airport then taking a plane across the world to teach, learn or conduct business.
At the 2017 HR Technology World conference in London, top industry speakers highlighted the importance of digital (often virtual) assets, and of the digital networks and communities from which future customers, partners, sought-after talent and business best practices can be sourced.
Many leading Fortune 500 business leaders, along with the consultants they hire, have cited digital business network transformation as an imperative for organizations wishing to maintain a competitive advantage. But research by Gartner, the world’s leading IT research and advisory firm, highlights a multifaceted challenge: “Building and sustaining a successful digital business require(s) transformational change in culture, mindset, leadership, and workforce capabilities.”
Digital Business Transformation and Self-Development Now
The time to plan and act is now, according to Jason Averbook, consultant and keynote speaker in the area of human resources, the future of work and technology’s impact on that future. If you’re serious about digital business transformation, you must start immediately because the world of digital transformation is already upon us.
Your transformational plan will most notably include the inventorying of physical assets and technical skills, identification of digital business drivers and benefits, where digitalization and virtualization make good sense, measured milestones, and what actions are needed to achieve each milestone. It’s a continuous process. It requires HR and IT collaboration, and executive level and finance commitment. But it also requires buy-in from another, often-underutilized, asset in your organization: Your people… your company’s producers, innovators, leaders and thought leaders.
Transformation is not only from the inside-out via your existing skills, but from the outside-in via digital business networks. What better discipline to make this all happen than talent management, including talent sourcing, recruitment, workforce development and fluid performance management?
Imagine what type of IT system (HRIS) you might use to help to engineer this transformation. The system must empower you to find, attract and engage people with a digital and self-starter mindset and the skills you are seeking to drive the transformation. It must provide the interactive environment in which you can quickly ramp up your people through fun, virtual, real-time/anytime training, and then more progressively through intelligent adaptive learning. The system must enable you to identify who in the organization needs development toward providing value in the new digital business model, and where complementary skills must be brought in. Through an intuitive and engaging user interface (UI) and user experience (UX), HR can foster adoption, and encourage and measure engagement and contribution activity.
Across recruitment and employee performance management functions, the talent management system’s open platform allows self-starting users to extend into the third-party application infrastructure to get the apps they need to solve additional digital business transformation challenges, connect with potential new customers and partners, and automate or accelerate time-consuming and repetitive manual processes.
The Self-Developing Organization
Once you have integrated digital tools that cover sourcing, reference checking, recruitment, L&D, performance management and more, the principles of self-development and self-direction become a crucial next step.
- Interface with the most engaged and digitally adept candidates through recruitment applications that invite them to provide direct online references from their supervisors, colleagues, partners and customers.
- Engage and hire digitally adept self-starters and the innovators you need to make your ongoing transformation successful.
- Develop, encourage and measure employee adoption and engagement through digital tools and intelligent apps that complement the human spirit of your organization by learning about every employee and personalizing data, learning, development, and career opportunities.
- Factor and vet employee input and ideation into your strategic plan and career and succession plans.
Get on the road to digital business transformation and the self-developing organization through the processes of fluid performance management within a people-centric talent management system.
Download the co-branded Lumesse and Gartner newsletter on digital business transformation and talent management to get access to:
- The crucial elements of digital business transformation and how you can embrace the concept to drive more efficient processes and competitive advantage
- Why self-development and self-directed learning are so critical to your digital business transformation and subsequent survival or competitive edge
- How to solve HR specific challenges such as identifying the candidates who fit best in with your transforming culture and those who can inspire and accelerate your business plan
- Premium insight from Gartner, with the inclusion of the Gartner Research Note, “Ten Absolute Truths About Talent Management in Digital Business,” by analysts Lily Mok and Diane Berry, which provides recommendations for CIOs and HR leaders.
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