It was a pleasure meeting with Alexandre Raffoul, Head of Business Engagement, Middle East & Africa at World Economic Forum and Joanna Lahham, Business Engagement Lead- Middle East and Africa at World Economic Forum. We discussed different issues…
Although much of the buzz surrounding digital transformation projects focus on technology, the real drivers of these initiatives are people.
And while the overarching concern of digital transformation is to improve workflows and processes, the ultimate beneficiaries are an organisation’s employees and its customers.
Let’s turn our attention in the meantime to how digital transformation can impact talent management, looking at engagement and retention, as well as acquisition.
There have been a lot of published studies in HR best practices showing that businesses that invest in technology for digital transformation initiatives often see a vast improvement in employee engagement, and business performance.
Being digitally mature
According to a global survey done by MIT and Deloitte previously, senior company executives and managers describe a digitally mature organisation – one that has successfully achieved digital transformation – to be a place that is able to provide employees with the resources and opportunities needed to develop their digital knowledge and skills.
What this means is that the fears by some about resistance to digital transformation are mostly unfounded, and that most employees would naturally be more engaged when a company decides to embark on an organisation-wide digital transformation journey.
Businesses that implement a digital strategy to include people, along with processes and technology, are more successful in both attracting and retaining talent.
According to research from MIT’s Center for Information Systems Research, organisations that provide the right employee experience through any digital transformation initiative can achieve twice the customer satisfaction and innovation and generate 25% higher profits than those that fail to do so. Having a strong focus on employee experience, therefore, can significantly impact the bottom line.
Fostering a learning culture
For a digital transformation project to be truly effective, it should foster a learning culture – that is, companies should provide ample opportunities for employees to be immersed in the process and be equipped with skills to participate meaningfully in the desired changes arising from the digital strategy. Some of these include trainings and workshops, as well as knowledge-sharing events. This experience-driven development is proven to be effective in building new skill sets and deeper expertise.
Any effort to achieve digital transformation must be inclusive. It does not matter what the job role is, whether it is a line or managerial function, it is important to have everyone on board in every digital transformation project.
With diversity being a key component of many business organisations nowadays, especially in a culturally diverse environment such as the UAE’s, inclusiveness will be a key factor to success. At DAMAC, diversity is highly valued, as it helps give the company a more rounded and tolerant worldview and corporate culture, while also allowing the organisation to benefit from diverse perspectives and approaches to doing things.
By investing in technologies such as Robotic Process Automation, Virtual Reality, Cloud Data Platforms, Internet of Things, Artificial Intelligence and Mobile Solutions, DAMAC has increasingly been able to improve and streamline customer experience on its digital touch points and communication channels with all departments, freeing up employees to do more smart work. Additionally, the new technologies we have adopted are exciting and attractive for new recruits looking to work in a futuristic company.
DAMAC’s digital transformation initiatives are creating a more conducive work environment that fosters better productivity and well-being, resulting in better employee satisfaction. Interestingly, a study done by the International Data Corporation (IDC) suggested that employees who have positive experiences in their company’s digital transformation initiative are more likely to recommend their company to other professionals.
This will help DAMAC attract new talents that seek to work in a progressive organisation with successful digital strategies in place. This is critical for a growing organisation, with an eye on keeping its competitive edge and maintaining prospects for sustainable growth in the future.
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