Inside Eliminate Downtime

How is your organization eliminating downtime? One of the largest challenges we face is effective communication across the industry. The Eliminate Downtime Benchmark is your chance to initiate in conversation that drives change. Take 5-10 minutes out of your schedule to answer the survey, by clicking on the image below, and you’ll receive a customized report which gives you and your teams inspiration to ignite a conversation about improved productivity. If you find the Eliminate Downtime Benchmark relevant and interesting, share it with your network. Let’s continue to collaborate and drive change in the industry.

Organizational culture should and will be the driving force of change. It will impact people within your organization and your customers. Therefore, we should take some time to highlight how to create a culture that embraces data, how we can ensure that we won’t experience a shortage of skilled people and what we should focus on when trying to transform your organization. Therefore, I wanted to ask you:

What tools and techniques can you use in your organization to develop skills of already existing employees?
What aspects of the WealthACT (Accelerate Change through Technology) can you apply to your own organization to develop a culture that embraces data and AI?
How are you balancing customer experience and employee experiences in your digital transformation?

ACQUIRING AND DEVELOPING TALENT

McKinsey: "The future of work: Rethinking skills to tackle the UK's looming talent shortage"

Talent shortages will continue to increase and will reach critical stages by 2030. The introduction of new technology has had a profound impact on talent shortages, but also the type of necessary workforce. Although this article highlights talent shortages in the UK and how they plan to tackle this problem. The article outlines some interesting ways in which companies can acquire and develop talent:

Building new skills among existing employees
“Renting” talent from other organizations
Look for unconventional sources of talent

Organizations will need to think outside the box and be proactive in the retainment and search for talent in the future.

EVERYONE NEEDS TO EXPERIENCE DATA AND AI

Harvard Business Review: "Building a Culture That Embraces Data and AI"

The WealthACT (Accelerate Change through Technology) was an initiative driven by TD Wealth from Canada. It was an initiative that sought for leaders to become more aware and experienced with new technologies. The skills discussed in the article are crucial in the successful adoption of new technologies within a company. The development of the program has led to the inclusion of all people within an organization. To build a culture that embraces new technology, everyone within an organization must be exposed to it. They need to have the opportunities to work with it, and they need the right guidance to truly embrace it.

STAYING ON TRACK WITH YOUR DIGITAL TRANSFORMATION

Digitalisation World: "Businesses suffering from 'digital transformation fatigue' "

A recent study from the UK found that 50% of businesses felt that the success of their digital transformation was at risk due to “digital transformation fatigue”. It is important that we acknowledge this, it gives us a better understanding of the important components of a digital transformation. The major points mentioned in the article were talent shortages, struggles with systems and processes and balancing the customer and employee experiences. To mitigate these challenges, organizations should ask themselves:

Why are we adopting new technologies?
What value will this bring to our organization?
What value will this bring our customers?

If companies have answered those three questions, they will be better prepared to handle the transformation as they will see and experience the changes in real time.

The Eliminate Downtime movement has also garnered some more media exposure in the form of news articles from KHL and the Dutch site Hoogwerker Nieuws. These articles highlight key points from the event. It’s great to see that the movement is gaining more media coverage so others can see how they can contribute to the journey.

Through collaboration and partnerships we can get closer to our goal of eliminating downtime by 2025.

If you have any great reads, please share them with me at: sbj@trackunit.com

- Søren Brogaard Jensen, CCO Trackunit

Gasværksvej 24 • Aalborg, Nordjylland 9000 • Denmark • Click here to unsubscribe.