“By 2025, the average worker will need to learn 7 new digital skills.” (Source)
In terms of the way we work, the rate of change has undeniably sped up thanks to COVID. Where digital disruption was likely, it is now inevitable for most businesses. If 2020 gave us all a massive push toward digital transformation, 2021 is about continuing the forward momentum.
The backdrop for learning and development has never been more dramatic. To capture the full potential of digital technologies, businesses are going to need to invest in the training and development of their people.
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Preparedness = people + tech
Most companies are now opting for a ‘digital-first’ mindset as they acknowledge the central role technology now plays to their success. What is a digital-first mindset? Simply put, it means recognising any new opportunity or problem is going to need to be solved as digitally as possible. When done right, it helps to increase efficiency, scale and find new ways to appeal to customers. However, these benefits fall flat when they are not paired with the right learning and development. As Forbes concisely stated, “digital-first business demands a people-first mindset”. Fostering a sustainable digital workforce trumps the implementation of any single technology.
A study from MIT concluded that businesses that invest in digital skills training for their people tend to outperform their competitors. They showed an average of 19% more growth and were 15% more profitable.
As core technologies become increasingly available, differentiation won’t come in the form of the technology itself. Instead, the key factor for success will be around the success of adoption. How well can your people adapt to take advantage of the new opportunities the technology affords. Unsurprisingly, this is all about upskilling for the individual within the broader context of learning and development for the organisation.
Taking your people on the Digital Transformation journey
As a leader, when you are planning for digital transformation, it is crucial to consider the people that are going to bring it to life. People make technology useful. If you have broad-scale, organisation-wide transformation in your plans, giving your people the right tools and mindsets to provide them with the confidence to enable its successful realisation.
The benefits for those businesses that execute their digital transformation strategies are going to be profound. Namely, capture the potential of digital technologies and ensure their people are along for the journey. But to do this, continued interest and investment in training and development is required. To capitalize on the opportunity of digital, companies need to adopt a people-first approach to business.
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Need more proof that investing in your people is a strong strategy at any point along your digital transformation journey? Check out our latest blog “5 Reasons To Invest in Upskilling”.