Digital transformation. It’s at the top of every boardroom agenda, prompting much debate over data management, analytics-driven decision-making, personalized user experiences, and automation. Yet, for most executives, the primary purpose and end goal of such initiatives remain, at best, fuzzy.
Rapid, proactive response to changing data, competitive conditions, and customer behaviors is undoubtedly a necessity for surviving in this increasingly hyperconnected and hypercompetitive world. However, according to Jeff Stier, co-founder of the Global EY Sinek Performance Practice for EY, businesses must do more to produce purposeful outcomes that drive life-sustaining change to everyone on our planet.
“Digitalization promises to help organizations do things well over and over again without human intervention. At the same time, we must reflect on what humans can do better. What important role will employees, partners, suppliers, and customers play in this new digital world?” said Stier during the Americas’ SAP Users’ Group (ASUG) Webcast “The Art & Science of Accelerating a Digital Transformation … with Purpose.”
Why is Stier’s question relevant to your business? Simply put, your answers can mean the difference between building a revenue generator for a couple years and offering a clean, equitable, and prosperous future that outlasts us all.
Purpose sets the foundation for infinite and impactful change
Traditional change strategies have enabled businesses to acquire the skills and create the processes needed to successfully execute a digital initiative, such as implementing a new ERP system. But what companies often miss is the one thing that can turn that project into a real digital transformation: people who understand the purpose of the change and are motivated to take action and achieve desirable results.
“Short- and long-term value from any business change is accelerated by integrating purpose and motivation with traditional strategies for digital transformation,” Stier advised. “Similar to the double-helix structure of DNA, digital transformation strategies and purpose and motivation strategies must zip tightly with each other – with digital strategies running through the middle to guide innovation, inspiration, and strategic engagement toward desirable business outcomes.”
Maintaining a perfect union of motivation and purpose with digital transformation enables your company to gain a return of sustainable growth across the spectrum of the business network:
- Inside-out: Trust in the employee relationship increases because the digital initiative delivered what business leadership promised. The workplace culture gradually embraces the change, leading to high-performing teams, better employee engagement, and continuous innovation.
- Outside-in: Customers begin to trust your brand more now that the digital experience matches their wants, needs, and expectations. Over time, their loyalty and retention grow, while customers decide to advocate your products and services. Plus, your ties with the customer community strengthen and your sales revenue and margins significantly improve.
By combining motivation and purpose with digital transformation and digital strategies, your business can tap into the best of our human nature to move forward.
“Science tells us that we all want to be inspired, trusted, valued, and fulfilled in everything we do,” said Stier. “Leaders, organizations, and businesses that operate with an infinite mindset are always looking to optimize their motivation and purpose strategies as they understand how human beings react to the way they treat them, communicate to them, and interact with them. And ultimately, the business becomes a brand that is beloved by employees and customers alike.”
Reframe your digital transformation into an inspiring social movement of change that impacts generations to come. Get the best practices and insights you need to get started by listening to the Americas’ SAP Users’ Group (ASUG) Webcast replay “The Art & Science of Accelerating a Digital Transformation … with Purpose,” featuring Jeff Stier, co-founder of Global EY Sinek Performance Practice, EY.