85% of surveyed business leaders believe they have two years to launch digital strategies before falling behind their competitors.
Yet, digital transformation can do more than increase your revenue. It can give you a big boost in workforce productivity.
The stats are eye-opening: 67% of office workers spend less than 60% of their time doing critical work, while 18% spend less than 30% of their time on key duties.
These numbers indicate that up to 70% of the working day may be time wasted.
Digital transformation will tackle this issue through automation, increased automation, and targeted process optimization.
It can help you engage the employees you have more effectively – and increase your talent pools to make your business more competitive.
Today, just 39% of employers think their workers are fully engaged in their work.
And many aren’t even sure whether their employees are engaged or not. As most businesses continue to search for ways to improve performance.
Keep reading to learn more about how global digital transformation is impacting productivity.
The Case for Digital Transformation
As a freelancer or entrepreneur, it’s essential to understand digital business trends.
One trend is that workers like to have tech tools. They empower workers to be more productive and successful.
However, many white-collar workers and executive leaders believe their companies focus too much on the bottom line.
They often overlook empowering their staff for this reason. Still, most of these individuals believe employee empowerment through IT investment is beneficial.
Employee productivity suffers when they don’t have the right tools.
Even worse, their morale diminishes.
And, when morale wanes, so does performance.
A Gallup poll found that 70% of employees surveyed believe technology makes them more productive.
Whether for a one-person business, international corporation, or nonprofit, you can build stronger teams focused on productivity and growth through digital transformation.
Technology and Worker Sentiment
A considerable segment of employees thinks they can do better work.
All they need is the right technology.
Today’s employees believe technology can help speed up boring tasks.
However, the right technology can also boost morale.
Today’s workers want a focus on employee empowerment using IT tools.
Moreover, these tools can help companies embrace digital transformation quickly.
Weighing the Costs of Innovation
Often, companies are overly concerned with cost when it comes to digital transformation. They worry about the price tag of investing in tech.
Many professionals share this sentiment.
An equal number of professionals say their companies take a wait-and-see approach when it comes to innovation.
This is an error on the part of many companies.
New technology can help firms generate more revenue. In the retail industry, for instance, tech innovation is a necessity.
What’s more, tech innovation can further boost productivity and employee morale.
Looking Beyond Upfront Costs
It’s unfortunate so many companies are slow on the uptake of digital transformation. Professionals are more productive and happier when they have access to technology.
Today’s employees want to feel connected to their companies and their peers. This is important in a market with a skilled labor shortage. Many companies are now scrambling to find and keep the best talent.
A considerable percentage of staff only feel connected to people on their teams. Some employees only feel connected to those with whom they work in close proximity.
With technology, you can bridge this gap.
Investment in Tech + Employee Satisfaction = Soaring Productivity
Natalie
Unfortunately, some companies aren’t investing in the right tech tools.
They may invest in new tech without considering the impact on workers. These firms aren’t taking employee sentiment into account.
Sourcing and picking the right tech tools is crucial, especially for a corporation that manages hundreds of employees.
On contrary, things will get easier with a professional freelancer or digital nomad that lives abroad.
Professionals can invest in the latest tech tools for themselves. And if it’s not working for them, they can just move on.
Looking Ahead to Digital Innovations
Many companies are adopting new technologies as well as training their workers to embrace digital innovations.
However, the pace of adoption varies considerably across industries.
Take the retail industry, for instance. In 2016, Amazon found the high turnover rate for retail associates and cashiers unacceptable. So, Amazon introduced a new checkout technology to their stores.
The new checkout technology literally takes no effort to complete. It can offer consumers better service together with faster checkout times.
Now Is the Time for Digital Transformation
The recent pandemic has put many projects on hold—including digital transformation.
Some leaders may think it’s a good idea to put off technology changes until we’ve adjusted to the new normal.
Conversely, technological transformation is more important than ever before.
Many companies have held off on new technology while they deal with the disruption of COVID-19. However, they can save hundreds of hours per year simply by digitizing data collection.
Technology can create efficiencies that can spell the difference between prosperity and shuttering your doors.
Let’s look at a few ways your company can begin its digital transformation.
1. Automating Business Processes
For many firms, automation is a must. It’s a digital transformation tool that can help them remain competitive.
Automation makes daily tasks easier and more efficient. It empowers businesses to do more with less effort.
For example, automation is especially beneficial for project managers. It enables PMs to use project time tracking software to manage the bulk of their work.
Automation also enables PMs to manage real-time data. It also makes it easier and faster for them to recommend possible choices based on that information.
2. Improving Communications
Employers must create a collaborative environment for staff. Employees need the right processes and tools for this transformation.
Digital transformation helps to break down silos. It benefits everyone. Often, teams in the same company compete against each other rather than working together.
Technology increases employee engagement and cooperation. Collaboration is the best route for digital transformation.
Many firms want to enhance their staff’s ability to communicate. The place to start here is with an assessment of your existing tools.
You should ask the people who use these tools every day where you can improve. This information will lead you on the right path to improving company communication. Moreover, it will ensure you spend your investment in innovation wisely.
3. Empowering Management
Over the last couple of years, many companies have deployed remote teams and policies. Digital transformation enables real-time visibility of a newly emerging remote workforce.
Digital nomad companies and other firms with digital working arrangements empower workers in new ways. They can hire staff from any location, maintain flexible schedules, and embrace the perks of working from home.
Digital transformation empowers remote workers with new tools. Data tracking is one of the major benefits of remote work.
With the right data tracking software, managers can easily see the status of their team’s work at any time from any location.
However, this transition hasn’t proven easy. A physically segmented staff results in delayed decision-making.
Managers must also now cope with managing global resource pools. There’s a lack of accountability and weakened productivity.
However, digital transformation can remedy these issues. All your firm needs are the right tools.
These tools might include:
Analytics
Workflows
Collaboration
Governance
Tracking
Begin Your Digital Transformation Today
You now know more about how digital transformation is impacting productivity.
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