The workplace has always been in constant change, but the widespread proliferation of information technology has brought this transformation to unprecedented heights. Digital technology has dramatically reshaped industry after industry, forever changing how employees connect, collaborate, and communicate. As a result, it promises incredible business opportunities, one driven by increased efficiency, productivity, and lowered costs.
As the workplace demographics continue to shift, an increasing number of companies are finding it challenging to keep up with the trends or reap the benefits that these transformations promise. Worse, companies that are unable to tap into the digital revolution will have a challenging time meeting market expectations and will eventually be left behind in the race.
Unfortunately, digitising an organisation’s operating business models and frameworks is easier said than done. To deploy these technologies for a successful digital transformation, establishing a productive environment for your employees to adopt such digital methodologies is crucial. We dive deep into the various key areas to consider to achieve a successful digital transformation.
Employing Digital-Savvy Leadership
As with most organisational transformations, expect drastic changes to take place at all levels when digitalising your business, especially in terms of talent and capabilities. To ensure that the transformation is kept within predictive parameters, employing capable leaders familiar with digital technologies is imperative. These individuals are tasked with supporting the company’s change efforts, whether on a senior management level or in transformation-specific roles. From cognitive technology in talent acquisition to leveraging people analytics to improve employee engagement and retention, digital-savvy leaders can apply new technologies to make better decisions that align with the company’s business strategy, setting a solid foundation for long-term business success.
Building Capabilities for the Workforce
When it comes to traditional transformations, talent and skill development have always been one of the fundamental actions to take to secure success – and this remains true for digital transformation. In view of the rapid advancement of technology, employees’ capabilities will need to develop in tandem.
To start, businesses will need to redefine individuals’ roles and responsibilities to realign with the new transformation’s goals. This exercise will not only clarify the missing pieces required to move forward, but will also give way to a structural change where job redesign and job retraining can take place. By availing resources and opportunities to existing employees, companies can benefit from a talent pool that boasts a much broader skillset without undergoing multiple time-consuming rounds of talent acquisition.
That said, retraining programmes can incur considerable costs, especially when factoring in the number of employees. As such, many companies may not have the financial capacity to support employees’ skill development. To offset a portion of the costs incurred, you may consider the following retraining schemes in Singapore:
Course Fee and Absentee Payroll Funding (Employers): Employers who wish to sponsor employees for training can enjoy funding of up to 70 per cent of the course fees.
SkillsFuture Singapore (SSG) Funding: Employees sponsoring employees who are Singapore Citizens and Permanent Residents can apply for the Absentee Funding Payroll to leverage subsidised Workforce Skills Qualifications (WSQ) and non-WSQ courses.
Upgrading Everyday Tools
To facilitate digital transformation, companies will need to provide employees with new digital tools and self-serve technologies. However, this is not enough. Businesses will need to follow this up by modifying their existing standard operating procedures to make space for these new technologies. Equipping your employees with accessible resources and clear processes will allow them to quickly adapt to the transformation, effectively increasing the rate of success.
Looking Towards A Digitalised Future
Digitalisation is inevitable. Businesses that embrace digital transformation can enjoy improved business performance and sustain changes that may come with further technological advancements.
The SBF Sustainable Employment (SE) initiative calls on the Singapore business community to take purposeful action to improve their SE practices in anticipation of emergent trends and future developments. Singapore Business Federation launched this initiative with a report that highlights key recommendations and potential opportunities for businesses to take on to achieve long-term business success and foster a vibrant economy and inclusive society.
Make the pledge to join others in this journey.