A digital transformation is rarely a one-time adventure, and with the current state of technology and learning and development in the workplace it’s bound to become an evermore immersive experience.
The current state of technology has changed recently. In the last few years what’s known as Moore’s law has transformed so drastically that technological industries will have to find new ways to upgrade their computing power. Moore’s law was first theorized in 1965 and was named after Gordon Moore, cofounder of Intel. He hypothesized that transistors were shrinking so fast that every 6 months you could fit twice as many onto a chip; his theory was updated in 1975 to doubling roughly every 2 years. The current drastic change will amount to that 2 years turning into 5 years. The fall in transistor density will cause the repercussions that will be felt for years.
The changing state of technology will contribute to the learning and development opportunities in the workplace. The half-life of a learned skill is approximately 5 years, which means that what you learned 10 years ago is outdated as is almost half of what you learned 5 years ago. This recent development has caused companies to overhaul how they approach learning and development. Upwards of 45% of executives believe that this change is an urgent problem. The traditional method of skill learning is that you would learn skills for your career; however, now that career has incorporated the learning process. The distinction between the traditional and modern methods of learning skills really matter because the modern method is central to digital transformation. It’s essential that your company must provide the necessary channels for skill acquisition. Without providing the proper channels it will be impossible to create a tech-friendly culture centred around integrating new technology as it comes into the mainstream. Continuous learning is critical for your company’s digital transformation, and the statistics reflect that many businesses now are falling behind. Only 42% of millennials believe that they aren’t acquiring the skills they need fast enough, and only 33% of workers believe that their skills are being put to good use. As for the business leadership, 90% of CEOs believe that digital technology is causing disruptive change and 70% regard their company as lacking the skills to acclimate to the changing tech world.
Technology shouldn’t be viewed as an impediment to business, but as a journey towards efficiency and success. Despite the current uncertainty surrounding technological upgrades, we should embrace innovation in the workplace. Companies that learn to accept the incoming changes will be much more successful, and by creating a culture that is conducive to learning you can better transition and reach your digital potential.