A new Oracle study of "adaptable business" identifies seven critical factors for technology to bring real change. These factors include flexibility, a shared digital vision and the use of data to make decisions.
These seven factors are:
To conduct this new survey, 850 HRDs and 5,600 employees were asked about how organizations can adapt to gain a competitive advantage in the digital age. The study shows that operational efficiency is essential to becoming an agile organization able to keep pace with change. 42% of companies report having improved their performance after achieving this operational efficiency.
"For businesses, the pace of change has never been as strong as in the current period," says Wilhelm Frost, Department of Industrial Organizations and Microeconomics WHU - Otto Beisheim School of Management. "Adaptability and agility are extremely important for organizations that want to stay ahead of the competition and offer the best proposals in the marketplace. Adaptability translates into better support for customers, it is essential if we want to meet their needs. But it is also a decisive asset in attracting and retaining employees by providing them with the skills they need to progress. Companies that are not prepared to keep up with this fast pace of change will simply not be able to compete in the competition for the best talent in the digital market."
The study shows that one-third of business leaders around the world do not believe that their current operations are likely to attract talent or to compete in this area. And this rate reaches more than half of leaders in markets such as India, Brazil or Chile. But it must also be noted that a quarter of employees surveyed around the world are afraid of being replaced by machines.
Joachim Skura, Strategy Director of HCM Applications at Oracle, commented:
"The study also reveals that HR has the opportunity to play a leading role in the transformation of staff, helping to realize the potential benefits of technology. Too many companies implement technologies without properly integrating them into their operations. Employees still see machines as their enemies when in reality the growth of the organization can only be achieved when the two work together. Whatever technology is implemented, it is essential to change the culture and skills of the teams that will work with machinery and technology. It is precisely these digital skills that are the seven essential factors for fully realizing all the potential benefits of any technology, and making the business an adaptable organization."
Entitled "The adaptable company", this survey was conducted in August 2018 among organizations with at least 250 full-time equivalents, in 23 countries - including France - covering all continents.
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