The times they are a changin’. Although released in 1964, Bob Dylan’s iconic song still points to a universal truth: change is a fact of life. Even the world’s leading companies change. A 2018 study on corporate longevity found that “the 33-year average tenure of companies on the S&P 500 in 1964 narrowed to 24 years by 2016 and is forecast to shrink to just 12 years by 2027.” The bottom line? “About half of S&P 500 companies will be replaced over the next ten years.” With so much disruption and so much change, how do you stay competitive? You and your company must get good at changing…and fast. How one changes effectively in today’s digital age depends on several factors including the type of change needed, your business model, and most importantly, your employees. Research shows your employees’ experience with the change will determine the success or failure of your company’s change efforts.
Employees should be at the center of your organization’s digital transformation goals. In the healthcare industry, a patient-centered approach to providing care became a household term about a decade ago. The practice centers around the patient, addressing each of their needs. It is time businesses started using a holistic, employee-centered approach to their business models and especially transformation models. Picture your goals as a wheel and spoke, with your employees at the center and each spoke is an aspect of the change that helps you reach your goals. Spokes like:
- Worker Ecosystem
- Human Element
- Workforce Optimization
- Digital Dexterity
- Innovation and Growth
The Worker Ecosystem is changing to include bots and AI. How you incorporate this technology into your worker ecosystem will determine your ability to adapt. Analyzing your tasks appropriately will reveal ways to integrate technology to help you transform. In healthcare, this would be similar to providing patient portals to encourage direct dialogue between the patient and the doctor without scheduling an appointment. Even though AI is becoming the norm, the Human Element can never be left behind. Humans, and doctors, provide critical thinking, nuance, and empathy that technology will never replicate. Organizations must now train people to scrutinize, question, and explain the decisions of the machine.
To achieve Workforce Optimization, you must align talent and passion throughout your workforce. Using people predictive analytics, you’ll uncover factors that make for an engaged and productive employee. These insights help define an optimal organization model and culture required to digitally transform the organization. In patient-centered care, doctors, payers, and providers work closely with a patient and caregiver throughout the stages of an interaction to help identify the most effective treatment plan. To identify that plan, the healthcare community uses patient journey analytics to drive optimal communication and collaboration to foster a better connection with patients for increased engagement.
Fostering Digital Dexterity within your workforce will turn your organization into a learning organization. This is a long-term solution to invest in your employees’ technological fluency the same way you invest in your technology, increasing their ability to adapt and adopt new technologies when they come. Providers are using insights to better connect with patients – using common vocabulary to meet patients where they are at in their healthcare journey. When doctors learn and adapt to their patients – they begin to remove barriers and meet unmet needs to see improved outcomes and care for their patients.
Innovation and Growth comes through innovative design thinking. It focuses creative thought on the products and the humans interacting with those products. If you adopt an iterative approach to design, your employees will learn how to more effectively meet your users’ custom needs. Similarly, patients and providers reported better physical and emotional outcomes when engaging in patient-centered care, paving the way for continued growth of this practice.
In healthcare – just like in the workforce – the onus is on the doctor to figure out how to increase the patient engagement and collaboration for optimal outcomes. A holistic, employee-centered transformation approach is one that considers employees and their goals at every step in the process. From hiring to training. From relationships with leaders to organizational design and communication paths. When employees are at the center, it shines a new light on what the company could be afterwards. Just like in patient-centered care, it’s a lasting change that affects the entire model. As we saw with the predicted changes to the S&P 500, to stay on top means to be constantly innovating or be left behind. The times are indeed changing.
In our guide for organizational change management in the digital age, we look at five key areas for success. To learn more, download our eBook, Seeing 2020: How to Focus on Digital Transformation Without Losing Sight of Your People, or give us a call. We’re happy to help you navigate change successfully and transform for the digital era.