Business productivity has taken a hit over the past few years with the pandemic and the radical shift in working around the world. While return-to-office mandates continue to fail, companies must discover new ways to keep employees engaged and productive. This has given rise to many trends from essential and often costly workplace incentives to high-value mentoring. The latter of these is decidedly for the better and in fact, plays a huge role in determining business success.
As an example, 96% of the top 100 Fortune companies conduct extensive mentoring programs as per this Forbes article. This goes to showcase how important this is along with leaning forward with digital transformations. However, neither by themselves nor together truly work without the right digital transformation ecosystems from which to launch. If you do not know how digital transformation ecosystems help boost business productivity through employee engagement and feedback, this blog is for you. Let’s check out the reasons why every company needs them and should also optimize them to achieve success:
3 Business Ecosystems Enhancements that Drive Business Transformations and Boost Employee Productivity
Networking and Mentorship Frameworks
Key Takeaways:
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Gen Z workers want to have both career growth options and strong internal and external networking opportunities to opt for job placements.
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“Removing unnecessary barriers to the free flow of data between organizations and across countries, unifying regulation, and addressing climate change.”
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Companies that invest in creating strong networking process that break down silos and create cross-team collaboration options tend to get more from each business transformation process.
Business networking has long been the gold standard for creating career business productivity growth and value. The digital age and the growing need for creating dynamic opportunities have transformed the way professionals work and network. Now, Gen Z workers want to have both career growth options and strong internal and external networking opportunities to opt for job placements. Not surprisingly, when it comes to business ecosystems, companies that create a strong work culture tend to also generate more value from business transformations. For example, SAP CEO Christian Klein mentions in this Fortune article that one of the biggest challenges companies face is,
“Removing unnecessary barriers to the free flow of data between organizations and across countries, unifying regulation, and addressing climate change.”
Studies show that one of the biggest factors for creating job satisfaction and employee retention comes when companies get climate-conscious. Naturally, SAP gets to attract and retain top talent because it has a robust employee networking and career growth process. This is why companies that invest in creating strong networking processes that break down silos and create cross-team collaboration options tend to get more from each business transformation process.
In fact, when teams learn to operate inter-dependently as well as independently, companies can segment their business transformation process and mitigate failure risk. This benefits managers as well since they carry a lesser failure burden while also getting the chance to promote individuals through mentorships who may prove valuable assets in the future.
3 Business Ecosystems Enhancements that Drive Business Transformations and Boost Employee Productivity
Collaboration Hacks for Increased Productivity
Key Takeaways:
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When business transformations are underway, creating on-the-spot solutions for emerging problems is what makes businesses successful.
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Teams working together collaboratively tend to perform better and cut down on the time needed to address productivity bottlenecks.
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As a result, continuous transformations become easier as businesses develop microteams with process-specific proficiency and this adds immensely to business transformation values.
Almost all businesses now use digital collaboration tools like MS Teams or Slack. Some companies like Salesforce have their own internal social network for communication and collaboration. When business transformations are underway, creating on-the-spot solutions for emerging problems is what makes businesses successful. If this is not available and executives hold up the process to make the decisions themselves, it often leads to disaster. Check out this quote from one of our recent blogs on 3 famous digital transformation failures,
Broadly speaking, the biggest reasons why Ford lost its battle for making a digital transformation change were as follows. Ford did not make its Smart Mobility process an inherent part of its business process and the LLC suffered because of it. It worked on a poor platform design and neglected the needs of its consumer base. This created a rift between what its consumer base wanted and how it wanted to work it’s newly established. Further, while Ford’s executive body recognized the need to invest in the digitalization of automobiles it failed to implement any noticeable changes and in fact, alienated its customers by ignoring their needs.
When using collaboration tools, companies that blend their employee engagement activities with ongoing work processes seem to get the best business productivity results. This is because teams working together collaboratively tend to perform better and cut down on the time needed to address productivity bottlenecks. Further, internal and cross-team collaboration-based mentorships create dynamic learning options. This not only retains high-value talent but also offers better options for dynamic growth and parallel learning. As a result, continuous transformations become easier as businesses develop microteams with process-specific proficiency and this adds immensely to business transformation values.
3 Business Ecosystems Enhancements that Drive Business Transformations and Boost Employee Productivity
Enhancing Workplace Productivity
Key Takeaways:
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One of the best ways to develop workplace productivity is by enabling employee engagement and fostering innovation.
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Open innovation can allow organizations to harness ideas, technologies, and expertise from startups, academia, research institutions, partners, and customers, and is becoming more widely accepted.
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Using productivity tools, businesses can also drive business innovation and foster the best values from digital transformations.
Digital ecosystems exist to promote and enhance workplace productivity. One of the best ways to develop workplace productivity is by enabling employee engagement and fostering innovation. This crucial factor can transform business processes into industry-leading and innovating paradigms.
According to this Deloitte article,
Open innovation can allow organizations to harness ideas, technologies, and expertise from startups, academia, research institutions, partners, and customers, and is becoming more widely accepted. The approach goes one step beyond traditional collaboration to actively seek ideas from external parties as the central approach to innovation and often uses shared technology platforms to do so.
It further explains,
For instance, Google assembled a dedicated network of hardware manufacturers, software developers, and telecom companies to develop the Android operating system.9 Procter & Gamble has a dedicated group of external innovators including scientists, engineers, and inventors that systematically contribute ideas to its portfolio of brands. Over the years, this approach has resulted in a nearly 60% increase in research and development productivity, and new products such as Olay Regenerist, Swiffer Dusters, the Crest SpinBrush, and the Mr. Clean Magic Eraser.
Digital ecosystems with the right collaboration tools and employee engagement processes offer a lot of business productivity growth options. From assuring new hires that their jobs are right for them and therefore worthwhile to creating managerial support paradigms to help them perform well, they add a lot to business productivity. For companies that are using collaboration tools for both business productivity and networking opportunities, this becomes a streamlined process. Using their productivity tools, they can also drive business innovation and foster the best values from digital transformations.
How Should Your Company Pursue Digital Ecosystems Optimization for Business Productivity Growth?
Business environments thrive more on culture than merely funding and tools. Developing the right culture demands using the right digital ecosystems that enable employee engagement and collaboration. Using the right combination enables companies to blend culture, processes, and people together into a high-functioning business paradigm. This is where LEAD bot offers great enhancement options to businesses and executives.
LEAD bot is a team engagement platform for big businesses and MNCs on Slack and Teams. It is an all-in-one team development software with features like virtual coffee chats, buddy programs, birthday celebrations & work anniversary celebrations, new hire onboarding programs, and Pulse Surveys.
LEAD bot also offers cutting-edge Organizational Network Analysis (ONA) for large-scale organizations. C-suite execs and mid-level managers benefit greatly in their decision-making from ONA and use its highly actionable insights for building strong connections across their workforce. This enables far more forward-leaning talent development and generates greater organizational interconnectedness! Foster better organizational health, talent development, employee retention, and overall performance with this simple app!
LEAD bot is a product of LEAD.app and we also LEAD.bot’s sister app Sunrize which showcases workplace attendance by graphs right on Slack! Book a demo now!
