People are the enablers of transforming organizations
With the new 4.0 economy in sight, there are a couple of obvious questions that organizations need to answer. What defines today’s right of existence of our company, and is it future-proof? How can we stay successful, also during the transformation, and how can we combine ‘old-world’ patterns with the requirements of the new world? What are today’s business models? Do we as Supervisory Board and Board of Directors have the right skills in place for the coming period?
Do we have access to the right skills for the transformation within the organization, and if not, how can we build those skills? How do we manage the impact on the organizational structure, scope, composition, as well as the individual careers of our staff?
The recruitment of the necessary digital (executive) talent is not possible without defining the answers to the aforementioned questions.
Supervisory Boards are responsible for the appointment (and dismissal) of the appropriate people in management positions. More than in the past, this implies that Supervisory Board members must not only have the right expertise, but this also implies in particular that they have relevant and up-to-date experience, for instance with new business models. In many cases, the appointment of so-called Digital Supervisory Board members (also on an international level) is far from self-evident, and not always as successful as hoped.
Recent international studies have shown that digital transformation is a hot item in Board rooms, where themes are discussed such as the Internet of Things, Big Data, Virtual Reality, Cyber Security, and so on. Also, frequent visits are paid to successful pioneering companies in California. However, only a few companies actually make concrete plans.
In many cases, it is still the CIO who is responsible for keeping the company on the right track when it comes to the digital transformation of organizations.
In the annual study “Transformers” published mid- 2017 by the Vlerick Business School and the Financieele Dagblad it becomes evident that many of them are struggling with a lack of support from their senior management, as well as a lack of sufficient digital talent that may be engaged on a flexible basis.
HR plays a pivotal role in the transformation of organizations. However, according to their CIOs, many HR managers have insufficient knowledge of the digital world in which their organization finds itself – or will end up.
Companies will increasingly realize that their success in the coming period will be determined for the most part by the creativity of their human capital and the difference this can make. For the HR position this means that, apart from increasing attention for a more quantitative approach, what will be required most of all is an excellent composition and coaching of the (project) teams in which the staff operate, as well as promotion of an open (innovative) culture. Only with properly qualified and committed staff and continuous investments in human capital can a company cope with competition from other entrepreneurs in the new economy and can it be appealing to top talents from outside the organization.
Schaap & Partners can help organizations answer the question whether they are able to take advantage of and make use of technical (digital) developments with their current talent and governance.