deepstash

Beta

Deepstash brings you key ideas from the most inspiring articles like this one:

Read more efficiently

Save what inspires you

Remember anything

Four success factors for workforce automation

https://www.mckinsey.com/business-functions/operations/our-insights/four-success-factors-for-workforce-automation

mckinsey.com

Four success factors for workforce automation
The fear of the future can be a powerful deterrent to change, as shown by a recent McKinsey Global Survey about the spread of automation in the workplace. Almost half of the respondent executives who rated their current automation programs a success nevertheless identified two factors-managing employee resistance to change and attracting talent-as their biggest challenges to adopting automation over the next three years (Exhibit 1).

5

Key Ideas

Save all ideas

Automation Is Here

Automation has a huge potential to change the nature of work, freeing up workers from tedious, repetitive, and precision work. Automation is a transformational change for owners, employees and customers, along with the society at large.

A McKinsey study estimates that around 50 percent of current work could be automated, and companies that support automation and AI end up creating better jobs.

40 SAVES

40 READS

VIEW

Aim High

A thorough reassessment is required of how the company operates and how best to capture the impact of automation.

Companies who have just automated on the surface have had small and limited results that don't last. Companies that have understood and deployed the high-risk, high-reward proposition have completely transformed it's business offerings and have become market leaders. They have also redeployed the freed up workforce and provided additional services, even turning their competitors into customers.

35 SAVES

29 READS

Commit and Communicate

A joint effort of commitment and communication is essential for a thorough approach to automation and has to be led by top management.

Apart from IT, all stakeholder groups like HR, Operations, Business Units have to be engaged, and communicate consistently.

32 SAVES

18 READS

The Right Governance

A company-wide program, lead by the senior leaders, is essential to establish and empower a team to manage the effort.

A central transformation office is important as, without centralized control, each unit or function will misalign if left to itself in isolation.

Many executives think of automation as an annoying IT function when the company-wide program is not lead or communicated properly. This has to be taken care of by prioritizing implementation efforts while ensuring business continuity.

28 SAVES

15 READS

Create Internal Capabilities

It's a good idea to start building internal capabilities to ensure that the resources needed to roll out the new technologies can be sourced in-house.

Reduce dependence on external automation providers by starting early to develop automation and related skills among the existing workforce. Training of employees and providing growth opportunities sends a strong positive signal in the organization.

33 SAVES

25 READS

SIMILAR ARTICLES & IDEAS:

The model of future work

By 2030, up to 30 to 40 percent of all workers in developed countries may need to move into new occupations or upgrade their skill sets. Skilled workers in short supply will become even scar...

Employers should lead the way

The pace and scale that technology disrupts is a social, political and business challenge.
Employers are best placed to make a positive societal impact, for example, by upgrading the abilities of their employees and equipping them with new skills. Employers will also reap the greatest benefit if they can successfully transform the workforce in this way.

Talent is the largest barrier

Talent is the largest barrier to the successful implementation of new strategies.

Many leading businesses realize that it is quicker and more financially prudent to look internally and develop the talent they already have. Yet only a third of global executives report that their organizations have launched any new reskilling programs.

6 more ideas

Talent Spotting

Digital leaders don’t have to do everything themselves, but they must be able to spot the areas of their organization that need improving. Moreover, they need to be able to hire an...

Adaptability

Sudden changes in the industry can disrupt the status quo, potentially derailing the success of your organization. In these situations a leader must remain flexible and adaptable, ready to make the quick decisions that can keep the company on track with minimal negative impact.

Risk-Taking

Putting speed and innovation ahead of tried-and-tested business practices often makes leaders cautious. However, in a fast-changing world, the only strategy that is guaranteed to fail is not taking risks.

For a start-up, the risks can be even greater but innovation is impossible without risk. And if you can’t take risks, you may not be cut out to be a digital leader.

Be always reliable

Totally reliable members are like gold. Delivering work on time every time is priceless.

Not afraid of failure

A good team player is not fearful of failure.

Head hunters are now actively seeking out those employees who can clearly recount what went wrong with a project and what lessons they learned.

Share information

A good team member doesn't regard other team members with suspicion, envy or resentment.

They understand that sharing information is vital to efficient problem solving.