If your board or c-suite are failing to work collaboratively, whether this is due to the increasing rate of change within business, shortages in the talent pools or an advancement within technologies, failure to work as a team can be detrimental to the overall operational effectiveness of the business.
A failure to integrate and adopt technology could be the downfall of any c-suite. An inability to implement the latest technical developments can leave any business left in the dust of their competitors. Following the deployment of AI, robotics, automation and recruitment analytics, the requirements of human resources are now evolving too.
Many businesses are still feeling unable to address the development of technology, failing to educate the wider company and effectively implement automation is a problem which could cost a huge sum. Automation allows technology to take the reins on monotonous and repetitive tasks, leaving human resources to focus on roles that require more emotional intelligence.
Complex problem solving is quickly increasing in demand, therefore c-suite executives should anticipate the growth and plan accordingly, in order to align their recruitment effort. Moreover, recent studies have revealed that employees who are able to display cognitive abilities and social skills are now more sought after than ever, with the potential of more collaborative working environments looking to becoming more apparent.
Furthermore, technology can support in managing tasks, supporting recruitment efforts and streamlining processes in order to encourage productivity and ensure the workplace is prepared to meet the challenges of the future.
A holistic approach to careers
With the implementation of technology, more specifically automation, comes an impact on recruitment and jobs. A recent report from Deloitte noted that 4 in 10 companies believe that automation will result in a major impact on jobs, with a multitude of jobs now subject to redesign due to the implementation of AI systems.
The survey further revealed the necessity for employees and c-suite executives alike to develop and build new skills, in order to future-proof their business and their workforce. Few companies currently provide satisfactory opportunities for employees to develop their skills to the level that is required to compete in the market of the future. In order to remain competitive, businesses should aim to implement effective training plans alongside methods to motivate talent, improve retention and obtain the bottom-line results with relative ease.
If the c-suite is not operating in a collaborative manner, which encourages knowledge sharing and development, then the rest of the company will often fail to implement effective strategies. Directors and senior managers should actively encourage their workforces to develop through expanding their reward offering and ensuring that their business is appealing in order to attract and retain the right types of employees.
The c-suite is now more visible than ever to the outside world due to heightened political awareness and the widespread attention that has recently been drawn to the role of businesses in societal change. Companies now face increased pressure to make real-world changes and ensure that they’re benefiting stakeholders and communities alike, internally and externally. Pushing for societal change across all stakeholders can support in developing positive reputations across the world as well as relevancy.
C-suite executives should lead these initiatives by ensuring that their practices are aligned and through implementing strong and company-wide corporate social responsibility strategies to ensure that societal awareness occurs at every customer touch-point and level of the business.
If your c-suite are failing to collaborate, get in touch with Goodall Brazier today and speak to one of our talent management and recruitment experts.