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25 Mar 2023
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Corporate culture in the digital age

Digital transformation is the key to business competitiveness in a changing and increasingly demanding market. However, for this technological reform to be completed successfully, a corporate culture that promotes innovation and creativity within companies is needed.

Digitization is not an option for companies, it is an obligation. And as such they are taking it according to the data extracted from the  IT Transformation Maturity Curve  survey carried out in 2018 by the consulting firm ESG (Enterprise Strategy Group) to managers from all over the world. 96% of companies are currently immersed in some process of digital transformation.  Likewise,  81% of those consulted consider that companies that do not digitize will cease to be competitive.

In terms of investment, the consulting firm International Data Corporation (IDC) predicted at the end of 2018 that  in 2019 the world will spend 1.25 trillion dollars on technologies and services necessary to undertake corporate digital transformation.  More than half of this amount, according to this prediction, will be destined for the markets of China and the United States. The global spending forecast for 2022 amounts to almost 2 trillion dollars, which represents a compound annual growth rate of 16.7% compared to 2017. IDC also points out that  30% of the most important companies on the international scene, those that make up the Forbes Global 2000 list, will dedicate at least 10% of their income to driving their digital strategies in 2020.

A FAVORABLE ENVIRONMENT FOR DIGITIZATION AND NEW TECHNOLOGIES

At the same time that technological investment increases, the corporate digital transformation raises other basic needs to be completed successfully. For example, changing the company culture. The reform of the set of beliefs, values, habits and experiences that define a company through its workers  is one of the greatest challenges in the digital age. In 2017, the consulting firm Capgemini evaluated the weight of business culture in digital transformation with a survey of managers and employees around the world. 62% of those interviewed highlighted corporate culture as the main difficulty that companies face in digitizing themselves.

This is because the corporate culture reflects the spirit of the company, its way of thinking and acting, its values, its ethics, its corporate purpose. Hence, a profound change such as digital transformation needs an environment favorable to technological innovation to settle and develop. Otherwise,  any attempt at technological reform has very little chance of succeeding  or being implemented correctly. Digitization must be a progressive, constant process driven by the development of technology and the demands of consumers and employees, who demand more agility and personalization from companies.

HOW TO ADAPT CORPORATE CULTURE TO THE DIGITAL AGE?

The first change goes through the individuals that make up the company. It is essential that managers and employees acquire  digital skills  to face the digital transformation.  In addition, creating spaces where innovation and the exchange of ideas are encouraged will allow team managers to quickly identify shortcomings in the company or requests among their employees. And this implementation must be done at different levels:

  –  Address

Managers must believe in digitization and transmit it to the rest of the workforce. Afterwards,  the area managers have to support the strategy and set an example: they  will be the first to add new tools, promote and control the implementation of new technologies in the company, be aware of new developments and measure the results in order to progressively move towards a full digital transformation.

 – Equipment

Digitization must adapt to the needs of the teams and provide them with tools that speed up their work. Each department can have very different problems and needs,  so individual analysis and communication between them helps to decipher the essential points of the business and digital transformation.

 –  Environment

Companies must pay attention to the environment to identify the pitfalls that prevent teams from being more productive. By locating these obstacles, more dynamic spaces can be created for the benefit of your well-being and performance.  The enabling of collaborative areas or rooms for video conferences, for example, can improve the work of the departments if they are used properly.

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