Embracing a digital culture

Employee retention is a big problem. So big, in fact, that recruitment costs waste British businesses a whopping £69 billion per year. Add the average cost of replacing an employee– £30k each – and the numbers get hairy, fast. The answer is to keep your employees engaged and motivated. Do that, and they’ll stay.

Yet this is not a straightforward solution. A new challenge lies in adapting to an evolving generation of employee. Since the majority of your staff will most likely be made up of millennials (that’s 18-35 year olds, for the uninitiated) by 2025, employers must do more to grab the attention of this changing workforce.

So what’s the first, crucial step to engaging millennial employees ? Answer – embrace an innovative digital culture.

Embracing digital means driving your business out of what Telefonica UK’s boss calls “analogue mode”. Here’s why your employees will be the first to benefit :

Digital culture attracts top talent

It’s no coincidence that people are queuing round the block to work for Google. To give you an idea about how long that queue is, Google receive 75,000 applications every week.

Google are oversubscribed because of their reputation as the most innovative company in the world. Few firms come close to matching it. But companies on the hunt for top talent need to demonstrate that they’re up to speed, working with the latest collaborative technologies and constantly pushing the boundaries. Hefty pay packets and attractive perks are sometimes not enough for choosy applicants. If an innovative culture is lacking, talented individuals will simply find it elsewhere.

A digital workplace drives productivity (and employee happiness)

Embracing digital isn’t just crucial for attracting talent, but for raising productivity of your current team. The key word here is collaboration. According to 40% of senior managers, digital technology helps colleagues work better together. We see this in communication tech alone, with Slack and Skype as examples of tech transforming colleague interactions in companies of any size.

To keep things productive, we’ll let the numbers do the talking – digital transformation has the potential to save you 127 working hours per year. In other words, 127 extra interviews for opening positions, or 127 workouts at the gym.

Digital workflows empower workers

Ditch the notebooks and your employees will thank you. Implementing digital workflows and keeping tasks and projects in the cloud empowers team members. But, how ?

Well for one, it gives your team greater transparency. Employees are more motivated when they have greater visibility of what’s going in the company, day-to-day. Second, digital workflows mean your team can operate remotely. A whopping 70% of workers find remote working important, and 30% of teams are more productive working from home. It might be time to replace dressing-down days with more dressing gown days.

Digital organisations make decisions rapidly

Embracing digital culture also means getting to grips with data. Harnessing the power of data is no longer the privilege of tech giants, but of any company with access to innovative software.

Thanks to data-mining tech, we’re able to decide how best to talk to our employees with apps like Crystalknows, or make decisions about who would make the best hire using machine learning from the likes of ERE. Apps such as Moodring even measure your employee’s happiness day-to-day, week-on-week or year-on-year. In each case, digital innovation means leaders can make problem-solving decisions, fast.

The impact of digital transformation on employees is no gimmick. It’s less of a ‘nice-to-have’ and more of a ‘must-have’ for companies who want to attract talent and get the most from their team.
If digital companies mean for happier, more engaged and more effective employees, then embracing an innovative digital culture is a no brainer.

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