Becoming a next-generation company

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added by Craig Steel
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Following the outbreak of the Coronavirus, organisations are looking at ways to leverage the opportunities it offers to transform their business; essentially to help them become a next-generation company that is fit for the new world we’re entering.

While there is no doubt technology will play an important role in the future, the breakthrough organisations are looking for will be driven by the relationship they have with their people given they’re the ones who will determine the company’s success going forward.

As everyone knows, the only sustainable or enduring advantage a company has over its competitors is the commitment and institutional knowledge of its people.

This being the case, the organisations who win in the future will be those who win on a human level. In particular, it will be the ones who are set up to not only attract the talent they need to excel long-term but leverage the goodwill and capability of those they’ve got within their ranks today.

In a practical sense, this means organisations need their people to become their principal advocates who will not only drive innovation and improvements across the business but differentiate their products and services in the market.

As it stands, most employees today fulfill the technical requirements of their role. However, the standout performers in every business are those who represent all that is good about the brand or company in the eyes of a wider audience over and above the transactional aspects of their job.

As a result, these people are the true advocates for the brand as they strengthen its position in the market and therefore, ensure customer loyalty and relationships thrive.

The fact is every organisation needs more from its people to do better. This includes manufacturing teams striving to deliver better products at lower cost and support staff enhancing the market’s perception of the company through their personal attitudes and behaviour.

If you look at the organisations that are growing globally, it is those who are mobilising their people in a way that encourages them to want to do more for their customers whilst simultaneously reducing the costs and inefficiencies of the operation.

Although a lot has been written about next-generation companies in recent times, we believe most are getting it wrong as it won’t be those that have the deepest pockets or latest gadgets who will necessarily win. Instead, it will be those who understand that their organisation’s success is governed by their people and what they enable them to achieve.

If you have aspirations to help your organisation become a front-runner in the future, you need to ensure your people understand their purpose in the business and why it matters to your stakeholders. They need to know they are relevant to the organisation and its future. The need to know the work they do is meaningful and makes a difference to others and that they as an individual are important to the company and your customers.

If you get these things right, everything else will work but if you fall short in any one of them, it doesn’t matter how much you invest, the best you can expect is for your people to see the business as their place of work rather than being the true champions of its success.

 

©2020 Steel Performance Solutions 

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