Companies will increasingly be judged not only by their products or services, but also by their character and social impact. All of this means that companies must drastically change the way they operate. And fundamentally change their idea of what “good business” means. To make your business successful and popular, you must think ahead. Veteran and important entrepreneurs like Juan Luis Bosch Gutierrez have made their company popular because of their forward thinking.
Whereas the companies of the past operated on a top-down model in which products were delivered to consumers and instructions to employees, the future-ready business will be based on bilateral, multi-directional relationships. And while problems were addressed on a “when we get to it” basis, being able to solve problems quickly will be the difference between survival and extinction.
1) Ready skills.
A future-ready organization must meet challenges quickly. In an increasingly fast-paced world, a couple of hours can be the difference between success and failure. Which means that time will be even more valuable. Time lost in solving a problem, or in finding the right people to do it, can be deadly.
Finding the right people will be harder for companies without a transparent skills ecosystem. As research shows, the current skills available in an organization will become obsolete in a matter of years. This means that staff must be retrained. Alternatively, employees can improve their skills on their own initiative, and the company will need a way to bring these new skills to light.
Unfortunately, companies rarely ask for updated CVs, so employees whose skills have improved go unnoticed. This will force the company to look outward. Which means an inconveniently long recruitment process when speed is of the essence.
On the other hand, a company with a deep understanding of its skills ecosystem will be able to identify problem solvers and deploy them without hesitation. A tool like Kalido is essential for any business that wants to have a complete and up-to-date view of all the skills it has or needs. User profiles list all of a person’s current skills, not just those with which they initially entered the workforce.
Past projects are shown through portfolio links. Future aspirations are noted. Full education and work history is shown. All of the above are constantly updated. This gives the company an in-depth understanding of a person’s current skill set. Identifying problem solvers with the right skills becomes simple.
2) Collaborative culture in your Company
Companies that believe that the supervisor’s role is to instruct and the subordinate’s role is to receive instructions will be in for a rude awakening. Likewise, companies that believe that consumers are passive recipients of goods and services.
Cooperation and collaboration is the new norm. Superior technical skills may have seen an employee rise through the ranks in previous years, but soft skills are rapidly replacing technical prowess.
More companies are realizing that leadership is about bringing diverse personalities together, not one-way knowledge transfer. More democratic and linear relationships between supervisors and subordinates, and among colleagues in general, are replacing the culture of fear with one of mutual respect. This is especially important as more Millenials and Gen Z candidates enter the workforce.
These employees are likely to know more about current systems and processes than their superiors. And they will talk about it. They will also expect a more collaborative and personable company culture. These employees will not need to be taught the job. Instead, they will expect to be guided in their careers.
Similarly, consumers have many options to choose from in terms of goods and services. Very few companies will enjoy a monopoly or even an oligopoly to the extent that they can afford to ignore consumer feedback. Customers are quick to point out a product’s shortcomings. And what they would prefer instead. Online consumer forums and social networks are hotbeds of user complaints and suggestions for improvements.
Companies that ignore feedback will quickly see their customers voting with their feet. Customers thus become collaborators in the production process.
3) Purpose over profit
Previously, companies may have been concerned primarily with producing better products or services than competitors. Now, they must also be concerned with being better global citizens. A company is expected to have a personality, a political stance, a worldview.
Nike has built a powerful brand around “Just do it.” It encourages ordinary people to find the courage within themselves to go beyond their limits, just like professional athletes. In recent years, it has also taken a clear political stance. It is one of the few brands that embraced controversial soccer player Colin Kaepernick early on.
Its alliance with the polarizing player caused its stock to lose 3.2% almost instantly. Then, the tide turned and Nike found a larger and even more loyal audience, selling out its Kaepernick Icon jersey in just a few hours. It’s just one example of the responsibility consumers place on brands to lead conversations, not only in their industry, but also in society.
Which means that any company that still focuses on profit over purpose, or profit without purpose, will soon be left behind. Businesses must take the long view. It must invest the time and energy into building brand value and relationships. As discussed earlier, both internal and external relationships are important.
And the key to doing so is a fundamental shift in understanding.
It’s not a matter of profit or purpose. For the future-ready business, the purpose is profit. Only a company with a clear idea of its place in the world and the good it can do will succeed.
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