L&D Best Practices

Skills Development for Successful Digital Transformation

Duration 3 minutes Modified on
Digital Transformation strategy

Technological change is inevitable, and for any business of significant size, making the digital transformation isn’t a matter of if but when. Many businesses were already engaged in their digital transformation before the COVID-19 pandemic. Work-from-home and hybrid work was the impetus for many others to rapidly start or accelerate their own initiatives. Even many companies that were reluctant to go digital have been surprised by the positive impact on ROI that their digital transformation has yielded. Embracing digital transformation now can give you a competitive advantage and reveal profitable new opportunities.

For instance, one of the most successful digital transformations of all time is perhaps the most obvious. Netflix switched its entire business model from physical products shipped by mail to digital products available on-demand. In the process, it revolutionized how people watch television. But for every Netflix, there’s a Nike or a GE, two companies whose digital transformations failed famously. This article offers key insights on how you can make sure your transformation succeeds.

Key Facts:

There’s no stopping this shift; digital transformation is inevitable and a major key to business success moving forward. However, the top two barriers to digital transformation are employee pushback and the lack of needed skills among individuals. While traditional strategies can get you through individual reluctance, upskilling is more complicated. That’s why it’s vital to have a strategy for digital skills development.

The Impact of Digital Transformation

A successful digital transformation can bring many benefits to your business. From streamlining work processes to improving customer service to discovering new revenue streams, digital transformation should positively impact your entire organization. It can lower costs, increase ROI, and provide behavioral data that will help you understand your customers. But you can only take advantage of new technologies and capabilities if your digital transformation is done right. How do you make sure your transformation is successful and delivers maximum payoff to your organization?

The first key to a successful digital transformation is having a solid and proven strategy. The same way you wouldn’t build a house without a blueprint or fix a car without an owner’s manual, you shouldn’t start your transformation without a well-thought out strategy. Without a strategy and partner to help guide you, you risk failure of the project, the loss of confidence of stakeholders, and a lack of investment from top executives. Failure is a waste of time, energy, and money that most organizations simply can’t afford.

The second key to a successful digital transformation is making sure you develop the skills your people need to support the transformation and ensure its long-term success. Here are the most important skills your teams will need:

In conclusion

These are only some of the skills that contribute to a successful digital transformation and as technology changes, so might the skills required. The most important thing you can do to support your digital transformation strategy is to develop a robust skills development strategy that is forward-thinking. In addition to supporting your digital transformation, a targeted skills development strategy is likely to lead to additional long-term benefits for your business, like mitigating skills gaps, increasing worker productivity and engagement, helping to attracting and retaining top talent, and making your business more competitive.

Our new e-Book outlines Nathan Furr’s proven methodology to develop your strategy for a winning digital transformation.