Businesses have successfully adapted to new ways of working over the course of the pandemic. Moreover, they have streamlined their supply chains and embraced digitization. Nevertheless, these improvements will not be sufficient. Leaders need to think beyond fine-tuning their daily activities and be willing to rethink how and why their organizations operate. Leadership requires taking a step back and contemplating the bigger picture.
In addition to revealing and intensifying a number of trends, the pandemic has accelerated aspects that will play a significant role in defining the future of the global economy.
To navigate the trends that will shape the future, companies will want to adhere to these four priorities.
- Clouds are the Reality:
Long believed to have value-creating potential, the cloud’s capability is now becoming more tangible. The cloud enables rapid development and scalability, making it a key innovation hub. Early adopters are likely to reap the most benefit from the 1 trillion dollars at stake by 2030.
2. The cultivation of talent:
Leaders in the business world are showing how to develop talent because it is the most valuable organizational resource. Their approach is to coach and empower small teams, to hire and deploy based on their skills, not on their position, and to fill gaps through training and development. Lastly, Employee satisfaction just makes sense: a positive employee experience leads to better outcomes.
3. Sustaining the environment:
Getting sustainability to be more than a buzzword is something businesses can do. It might make sense to invest in technologies that absorb carbon from the atmosphere as maintaining a competitive edge will require a strong commitment to sustainability.
4. Contribute to a better world:
A sense of purpose can make a difference in how employees approach their work – and if they don’t find it, they will leave. An organization’s sense of purpose plays a critical role in fostering long-term value. The public expects companies to do more than just profit their shareholders – although that is vital.