Management Perspectives

The fast pace at which we live and work today is driving both incremental and radical change in business and is becoming the new normal. Some organisations are keeping up, but many getting left behind. It is no longer a question of when or whether it is a good idea to transform organisations in preparation for the future; it is now an urgent question of how to transform.

In the current workplaces and beyond, we will experience dramatic shifts as we encounter a perfect storm of forces that will challenge our companies, leaders, managers and teams on a worldwide scale. These three forces—the Triple Now©—will serve to either propel or block the success of T businesses in this transformational era.

The journey to digital relevance

The first of the three forces is digital relevance. A digital transformation is needed to harness the power of the digital revolution. To facilitate this change, a mentality shift is essential, at the leadership level and throughout the organisation. The most successful organisations are making strides and undergoing fundamental change, whereas others who are unwilling to change are already falling behind, or failing.

AI and robotics are pivotal and will soon be everywhere. In 2023, with the launch of open AI systems like Chat GPT-4, many businesses were, for the first time, beginning to understand the potential of AI in the workplace. It is important, though, to consider the risks of not having a structured regulatory framework in place to act as a fail-safe where required. It is a fact that AI will be used by everyone and be in everything that we use, from a lifestyle as well as a business perspective. AI will become more intelligent and efficient because the technology that drives it is rapidly developing (for example, hyper-fast bandwidth technology,

Web 3 and 6G-9G mobile networks). Furthermore, as blockchains, cryptocurrencies and NFTs (non-fungible tokens) give power back to users in the form of ownership, we will be witness to a new game-changing digital combination that will drive innovation and a surge in new products, services and solutions. This will unlock the power of digital transformation, to the benefit of customers, companies and employees.

These technologies will help realise the potential of concepts such as smart cities, immersive gaming, autonomous vehicles, personal AI and robotic assistants, the Internet of Things (IoT) and more. They will be applied to solve problems and find solutions to our current challenges, such as climate change, availability of resources, commodity scarcity, fossil fuel reliance, population growth, mass migration, war, economic models and much more. All this will have the military-grade security of blockchain and the ease of use of your favourite app. That said, as with any new progress leap or technology, we have to be aware of the risks and narratives associated with innovations.

For example, we are in the infancy of AI’s development and there will be things to watch out for and unknowns to navigate. To avoid being too starry-eyed, we should all take time to read about, learn about, experiment with and then apply new digital technologies and tools in ways that benefit the organisation, its customers and its employees. The current era is bringing together the digital with the human touch. Some call it the phygital age— the coming together of the physical, biological and digital. Leaders at all levels must have the ability to select and apply the appropriate technology to fit the purpose and use it to enable a high-touch way forward, enabling those accompanying them on the journey to collaborate, share and communicate effectively and efficiently.

How we operate in the digital era is critical. Technology and the human touch are inseparable—one will not work without the other. Cooperation and communication are required to build small, empowered, self-owned teams that manage themselves and are supported by technology, not overwhelmed by it.

Unleashing people potential

This second force is relevant to any transformation, business model evolution, bricks-and-mortar policies, appropriate human capital frameworks and the embedding of new ways of working like hybrid and distributed. It represents almost as big of a workforce transformation as the digital component. What’s more, it is one that not all senior executives and board members know enough about. More worryingly, in my experience, many HR professionals are also not as aware or skilled in how to unleash people potential as they should be – so how can they credibly advise and help the executive leadership group in this area?

This is both urgent and important. The human shift, not unlike the digital shift, is challenging businesses everywhere and is a highly involved process. One of the biggest transformations is the rise of the blended workforce. This is not about simply hybrid working; it relates to the increasing mix of permanent employees and independent workers, alongside the many other ways in which people now identify themselves in the world of work. There are digital natives and non-natives, remote workers, transnational digital nomads, virtual assistants and contingent workers.

As leaders, we need to consider whether we will continue to hire a predominantly permanent human resource. Will we move to a ‘flexible worker first’ recruitment model? Or will we utilise an equitable recruitment policy for both permanent and independent workers, as part of our modern employee ecosystem? Our people—regardless of who they are, where they are and how they are engaged—must be encouraged to embrace the digital tools and new ways of working, to take ownership of what they’re doing and collaborate with their peers, seniors, subordinates, customers and partners to an extent they never have before.

Organisations need a strong commitment to enhanced learning and development journeys to build digital-era priority competences, regardless of role or level, and in turn, raise the capability bench and provide a gateway for the broader organisation to get involved in strategic and operational plays. This will truly unleash the potential of the many, and further reinforce the case for a bold new age of empowerment across the organisation.

The Leadershift

The third and final component of the Triple Now is all about how boards and senior executive leaders are readying themselves to navigate the future while steering short-term success. For many, this has been, in part, an acknowledgment of the need to embrace a steep learning curve regarding many other aspects across the Triple Now.

For others, this will simply be a matter of survival or failure. The scope and scale of the transformational space are overwhelming and are affecting mental health and physical well-being. This raises the fundamental question of how to cope in these fast-moving, unpredictable and unnerving times. It can take an equal dose of vulnerability and courage. The vulnerability to acknowledge what leaders do and don’t know.

The courage to embark on a new learning journey; to ask for help; and to unleash the power of the many in the organisation, as digital-era skill sets narrow the capability gap between the very top and every other level in the business. Leaders may not be the smartest people in the room anymore (if they were ever), and that requires a mindset shift for some legacy leaders who favour more traditional, hierarchical leadership expectations and practices.

A leader’s role is to navigate the journey to long-term success, and at the same time as protecting the short-term opportunities, risks, challenges and unpredictability that are increasingly a part of modern business. It is a lot to take on, particularly when considering the digital and human transformations of the Triple Now. The sheer scope, scale and speed of transformation can be overwhelming. It demands thinking through new business models, new ways of working, less traditional management structures and a new relationship with employees at all levels.

Greater autonomy and distributed leadership – allowing the workforce to make more decisions in their role, as part of the team and more strategically - can ease the burden on senior executives. In turn, they can focus on navigating the complex future many anticipate, while short-term operational execution and success are driven and owned across the business, without traditional levels.

There is still a need for a hierarchy, but it can be repurposed to act as a performance support, rather than a performance management function. We are all in it together, and those businesses and leaders who understand that; who balance purpose, people and profit; who transform digitally and understand the importance of the human component, are those who are most successful.