Embracing Digital Transformation

Digital transformation has become critical for organisations seeking to thrive in the rapidly evolving business landscape of the digital age.

byDiffusion, in partnership with Eyzon, brought together three experienced leaders from Digital & Technology and HR/People for a lively panel discussion. The panel explored both the challenges and opportunities that crafting an effective people strategy tailored for the demands of the digital era brings.

Through their collective expertise, the panel members shed light on some key considerations for leaders to work through when they set out on their digital transformation journey.

The aims of the event were to:

1. Develop a comprehensive understanding of how to create a people strategy that aligns harmoniously with the demands of the digital age.
2. Explore strategies to ensure the seamless integration of the people strategy with the overarching digital strategy, promoting organisational synergy.
3. Discuss approaches to foster a culture where individuals thrive, irrespective of their physical location, while united by a shared purpose.

This article pulls together the key points from the discussion and captures practical points that can be used to pave the way for a thriving workforce and sustainable business success.

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Meet the panel

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‍Catherine Boddington
Catherine is a coach and consultant who helps people solve problems, choose their future and be at their best. She’s been doing this for over 25 years and has helped a multitude of people and businesses to thrive. Including some of the Sunday Times Top 100, across the legal, finance, and tech sectors.

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‍Josie Smith
Josie is the Chief Architect for Digital at BT. She has over 27 years’ experience in tech with executive architecture roles at Vodafone, Alere Inc, and Cable & Wireless Worldwide. Josie sponsors BT Group’s TechWomen programme and the Gender and Equality Network which encourage more women into BT creating a more diverse culture.

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‍Karen Tyrell
Karen is the Chief People & Operations Officer for XLMedia with extensive experience in senior leadership roles across the sports betting and gaming sector, including Flutter & Sky Betting & Gaming. She has a 16-year tenure, leading awardwinning workforce programs and assisting businesses with operational reviews, transformations, M&A integrations, and strategy implementation.

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The panel's key take away points:

During the discussions, the panel shed light on the essence of digital transformation.

1. Have a Clear Vision and Strategy: Digital transformation is not just about integrating technology but also about having a well-defined strategy aligned with the overall business objectives. The panel emphasised the importance of starting with a clear "why" and focusing on three to four key areas. They stressed that digital transformation is a journey that may take years, and organisations should adapt their strategies dynamically rather than rigidly sticking to a predefined plan. It is crucial to understand the value being created for customers and work backward from there.
2. Manage the Cultural Shift: Successful digital transformation necessitates a cultural shift within organisations. It goes beyond adopting new technologies; it involves embracing change, encouraging experimentation, and fostering a continuous learning mindset. The panel highlighted the significance of building a culture of innovation that embraces failure and learning. Leaders play a pivotal role in driving this cultural shift by modelling and encouraging change, while employees become open to new ways of working, acquiring new skills, and adapting to evolving technologies
3. Take a Holistic Approach: To maximise the benefits of digital transformation, organisations adopting a holistic approach enjoy greater success. This involves considering the bigger picture and understanding how different technologies processes and organisational culture intersect. The panel stressed the importance of involving all stakeholders, including employees, customers, and partners, in the transformation process. Building horizontal networks of competence and creating self-organising teams were identified as enablers for successful transformation. Collaboration and integration across departments and functions are essential for leveraging the full potential of digital technologies.
4. Consider New Business Models and Revenue Streams: The power of digital transformation lies in its ability to unlock new business models and revenue streams. Leveraging technology, organisations can create innovative products and services, delivering personalised experiences that drive customer satisfaction and loyalty. The panel highlighted the role of data analytics in generating valuable insights for tailored customer experiences. By harnessing data and analytics, businesses can enhance customer engagement, increase revenue, and gain a competitive edge.

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Understanding and Overcoming Challenges

The panel agreed that Digital transformation is not just about integrating technology.

“it's about aligning strategy with business objectives and creating value for customers. It requires a dynamic approach that embraces change and fosters a culture of innovation through its people”

They referenced findings from a recent report that highlighted that only 30% of businesses navigate technical changes effectively. Here are the common challenges businesses can face during the digital transformation journey:

1. Change Resistance: The fear of change can hinder progress. The panel emphasised the importance of unearthing dissatisfaction with the current situation and involving all stakeholders in the transformation process. By emphasising the value created for customers and instilling confidence in the change process, businesses can address resistance and help a smoother transition.
2. Customer-Centricity: Shifting from an internal focus to a customer-centric approach is critical. Organisations who gain a deep understanding of customer needs and align their strategies with delivering exceptional value thrive. The panel discussed the importance in a shift the focus from "what's in it for us" as a company to "what's in it for our customers." This shift in perspective puts customer satisfaction at the core of products and services align to these market needs.
3. Risk Appetite and Agility: Committing to digital transformation requires organisations to embrace risk-taking and exhibit agility. The panel emphasised the importance of building a resilient and adaptable structure that encourages experimentation and iterative learning from failure. By empowering self-organising teams, businesses can foster a culture of innovation and agility, enabling them to respond effectively to rapidly evolving market dynamics.
4. Leadership at Every Level: Cultivating a culture of leadership at all levels within the organisation is at the heart of successful digital transformation. Honest conversations where people are treated as adults and supported through the change instils ownership and confidence to navigate change. By empowering individuals, encouraging collaboration, and fostering an environment that values innovation and initiative, organisations can harness the full potential of their workforce.

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Conclusion

Digital transformation is an ongoing journey that requires a strategic mindset, adaptability, and a people-centric approach.

By embracing technology, fostering a culture of innovation, and aligning the people strategy with digital goals, organisations can navigate the challenges and unlock success in the digital age.

It is essential to address change resistance, focus on customer needs, embrace risk-taking, and foster leadership at all levels. With the right mindset and a commitment to continuous learning, businesses can stay ahead of the curve and thrive in the dynamic digital landscape of today and tomorrow.

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