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We see digitization as the driving strategy for many global businesses; GE’s
strategy is to become the first digital industrial company and is moving its
headquarters to Boston to be closer to MIT (Massachusetts Institute of
Technology). Deutsche Bank wants to transform into a digital bank, and
Sephora is digitizing the world of beauty. The transformation is not just how
these companies manage clients and deliver services through the web and
smart phone apps, but back office processes, enhancing organizational agility,
speeding up supply chains and recreating whole service offerings to make life
easier or better for clients.
In reality, the evolution of technology and the consumer and business
related trends is creating a world of digital disruption which has far reaching
impacts for traditional business models for every company in every sector.
Many companies are now trying to understand how they can become digital
businesses. If the Chief Executive Officer is not personally driving the agenda,
we are seeing Chief Digital Officers being appointed at banks and financial
services companies, legal and professional services firms, life sciences and
FMCG companies. They all want to develop digital processes, cultures and
workplaces. Around 50% of financial services employees are now engaged in
IT and technology related roles, and so these companies are competing with
the likes of Google and Microsoft for the top talent as employees are switching
between sectors for the best opportunities.* Without developing digital
cultures to meet the expectations and workstyles of these key individuals,
these traditional organizations risk being left behind.
* “Future Financial Workplace”
Report, Cushman & Wakefield
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