Why technology and talent should go hand in hand

In business, the name of today’s game is transformation. No longer just a buzz phrase, business transformation now has the power to make or break a company. Keep in mind that 50% of the companies on the 2006 Fortune 500 list have already ceased to exist. This pace of change will only accelerate, and companies now must proactively meet new imperatives just to survive. Growing pains are inevitable as leaders face questions that will transform many parts of their organizations, one of which is how technology impacts the talent agenda. Below, I detail technology’s implications for the modern workplace and recommend areas of focus for leaders who want to make sure their companies don’t fall behind.

There’s no doubt that the Internet of Things, voice recognition software, smartphones, chatbots and other technologies have transformed the way we complete tasks and communicate in our everyday lives. However, in general, little seems to have changed in the workplace and employee experience. Many companies have yet to ingrain such technologies into their workplaces even if they can improve the way business is conducted. According to Forrester, only 15% of North American and European information workers say they are satisfied with their technology management department’s understanding of what they need to be successful. In one study, three out of four respondents said that they don’t have access to efficiency-boosting technology in their workplaces.

Facing the future

It’s not too late for organizations to address technology gaps, but they need to act quickly if they want to meet their future workforce’s needs. In just six years, millennials — highly tech-dependent consumers — are expected to make up as much as 75% of the global workforce.

This makes it even more important for employers to provide a technologically rich working experience, one that reflects the lifestyle of such a large part of their labor force. Apps, “anytime, anywhere” access to email and photos, video chats, self-service capabilities and other technologies have made workers’ off-the-clock time run seamlessly. Employees crave these kinds of experiences at their companies, many of which have not deeply integrated advanced email, chat, voice, video and collaboration tools.

Jerry (Yoram) Wind, a Marketing professor at the Wharton School, says that having an “artificial separation” between user experiences at home and at work is “absurd.” He notes that if major technology companies set “the standard for ease of use, that is what [people] expect everywhere.”

The business case

Not only can incorporating technology help create the optimal employee experience, it can also make financial and operational sense. Automation is one technological advance that many companies have yet to adopt even though the opportunities abound and routine tasks currently demand a significant amount of employees’ time. Companies that are looking to incorporate mobility options or four-day workweeks could especially benefit from the time savings due to automation.

The use of automation and advanced collaboration technologies also leads to higher productivity and efficiency, while leveraging AI can boost labor productivity. Such technologies free up time for workers to perform higher-value, more mentally stimulating activities that boost employee satisfaction. In addition, advanced technology allows for more data-driven decision-making, meaning that employees are better able to measure, analyze, predict and collaborate.

The benefits that come with connecting workforces to cutting-edge technology are undeniable, but it’s important to remember that challenges often accompany transformations. For some companies, the costs associated with implementing new systems can be a cause for concern. For others, change-averse team members may pose the obstacle.

The keys to managing these challenges are digital-savvy leaders with clearly defined and articulated visions for the modern workplace, as well as thoughtful change management. And, to help prevent unnecessary impacts on business as usual, organizations should:

• Fail fast and learn faster
•  Continually demonstrate progress
• Iterate rapidly to develop small, reasonable approaches for engagement
• Focus on responsiveness and continuous communication

The big picture

When evaluating whether your company has made technology a high-enough priority, consider the following questions:

• Do your employees have a seamless shift from their personal technology experiences to their work technology experiences?
• What are you doing as a leader to impact your employees’ experience, productivity and job satisfaction through the use of digital and emerging technology capabilities?
• What are your employees saying about their satisfaction with the current workplace technology capabilities and services? Do these services meet the employees’ needs and expectations and help them be productive and effective in their job roles?
• Are you getting the right return on your workplace investments? Are there opportunities to further optimize your workplace spends through digital technologies?

Learn more and share

Technology helps us to do more, better. Keeping that in mind, the EY organization is dedicated to helping companies realize their full potential through digital transformations. We offer modern workplace services powered by our alliance with Microsoft.

If you’re interested in our offerings or have insights into technology and the workplace that you’d like to share, we’d love to hear from you. Feel free to leave a comment or message me directly.

This article was co-written by my colleague Sunil Rajan, Senior Manager, Digital Technology Consulting, with Ernst & Young LLP.