HRM Five: Accelerating digital transformation
In a time of rapid technological advancement, organisations need to accelerate their digital transformation journey to reap the full benefits from their initiatives, and to address the invisible revolution brought by the mass adoption of AI.
“For organisations to gain the benefits of digital transformation, they need to develop a data-driven culture and build up a strong digital ecosystem – from employees, to customers, to partners,” said Ralph Haupter, President, Microsoft Asia during a recent event centred around the digital economy.
“This will grow a value chain by gaining new insights through new data sources, expanding their digital products and services, and ultimately building their data as a capital asset,” he added.
Here’s how HR can help their respective organisations become digital transformation leaders.
- Create a digital culture
HR needs to build a culture of collaboration where the business is connected across functions. HR should have a data strategy in place and begin with the end in mind, having a plan with clear outcomes. Data capitalisation will be key for HR to help organisations succeed in the digital economy.
- Build a digital ecosystem
HR needs to enable data sharing and collaboration internally and externally in an open yet trusted manner. As Keppel Urban Solutions Managing Director Cindy Lim said during a Microsoft – IDC research launch last week, the key lies in leveraging digital platforms from providers that “are scalable, adaptable and allow our people to share data”.
- Embrace micro-revolutions
In most cases, digital transformation efforts do not start with widespread change, but a series of micro-revolutions. These are small, quick projects that deliver positive business outcomes and accrue to bigger and bolder digital transformation initiatives.
- Bet big on AI
HR needs to integrate AI into the business, and identify areas where it can be used to augment higher-value activities.
- Develop future ready skills
HR today must relook at training and reskilling the workforce so that employees are equipped with future ready skill sets such as complex problem solving, critical thinking and creativity for the digital economy.
More importantly, they need to rebalance the workforce to attain and attract key digital talents, as well as be open in creating a flexible work source model where they tap into skills-based marketplace. Artificial intelligence, big data and cloud computing are some of the digital competencies that will be in demand in the future.
Yamini Chinnuswamy offers five important points on everything you wanted to know about HR practices today, but were too afraid to ask. Check out previous editions of HRM Five here.