Is your business ready to transform?

In this article, we will address the critical initial steps of transformation. These steps are designed to establish a comprehensive understanding of the activities and processes performed through-out an organization as well as set the foundation for subsequent transformation steps.

Beyond traditional continuous improvement projects, transformations are undertaken to achieve a step change in organizational performance. But what does this mean? Is there a universal definition that can be applied to the goal of transformations? The answer is both yes and no

The most C-level Executives are saying “we have to build an entirely new company,”?but let’s see the definition of transformation:

Business transformation is all about identifying techniques, new processes, and technologies that aren’t being used to their maximum capacity. It requires understanding how alternate solutions can be applied to further?gain market share, increase revenue and customer satisfaction?or reduce operating costs.

For many organizations,?this is not a simple process, particularly within the organizations that have a mindset that fears change. Therefore, how you deal and?communicate with employees?dictates how successful the transformation will be.

In reality, only a small number of total capabilities play a critical role in helping the organization find new ways to differentiate, gain a competitive advantage and compete. Focusing on those critical capabilities can help deliver greater value and help the organization realize its business transformation ambition.?

We believe in the following dimensions:

·????Mission. The purpose of a capability, how the company will operate, and what value will deliver. The mission is derived directly from—and supports—the company’s strategy.?

·????Insights. The decision flow, information, and analytics drive informed and timely decision-making.?

·????Integration. Clear roles, decision rights, and policies that facilitate integration within and across other capabilities, functions, and partnerships.?

·????Processes. An integrated and efficient set of processes designed to achieve the desired outcomes.?

·????Technology. The software, hardware, and tools required to enable the capability.?

·????Talent. The competencies, skills, talent infrastructure, and workforce planning enable an optimal talent base to execute the capability. This broader viewpoint allows organizations to frame and link execution to the value defined in the transformation ambition.

?

Let’s stay what a successful company did: In 2013, CEO of Netflix, Reed Hastings released an 11-page memo to employees and investors detailing a commitment to move from just distributing content digitally to become a leading producer of original content that could win Emmys and Oscars.

As the memo said, “We don’t and can’t compete on breadth with Comcast, Sky, Amazon, Apple, Microsoft, Sony, or Google. For us to be hugely successful we have to be a focused passion brand. Starbucks, not 7-Eleven. Southwest, not United. HBO, not Dish.” Since unveiling that new purpose, Netflix revenue has roughly tripled, its profits have multiplied 32-fold!

Conclusion

The goal for transformation goes beyond short term cost cutting; they should be designed to drive lasting step-change performance improvements for the organization. When approached as a traditional or smaller-scale improvement project, it is easy to succumb to the demand for immediate cost reductions, leading managers to reduce headcount. This stretches employees too thin and some months down the road, after victory has been declared, headcount requests will start to flow in to undo all the work that had been done.

These past few months have made it clear that the future of work is hybrid. There is a greater need for companies now to be agile and innovative, and this holds true for talent attraction and hiring as well.

In order to meet this growing need, companies need to redefine their talent acquisition strategies to ensure a better candidate experience, whether this involves refining your employer branding or adopting technologies to innovate and simplify the hiring process or use executive search processes. For the latter I will get back in transformation in recruitment!