Winning the digital race relies on better workplace culture

‘An idiot with a plan can beat a genius without a plan,’ once said Warren Buffett, the iconic American investor.

We can all comfort ourselves that even though we can’t magic ourselves more brains, we can fashion a plan for what we’re doing next.

The world’s only getting faster. We need to make sure we have a plan in place to keep up.

Leaders are worrying about slow productivity growth across the UK and are realising that the secret weapon to stave off competitive threats and operational inefficiencies is to plan and invest in digital.

New research by the Centre for Economics and Business Research (Cebr) and Virgin Media O₂ Business shows that now is a critical moment for organisations to make digital technology work for them.

Let’s get real. There are huge competitive opportunities waiting for organisations who are willing to make the push to become digital leaders. Most of your competitors aren’t using collaboration tools yet, they’re not letting software track and improve their customer service and they’ve not switched to cloud computing.

Most organisations are trundling along in the middle lane of the motorway and the fastlane is just sitting empty. In an environment where we find ourselves repeatedly worrying about slow productivity growth, what’s your plan to get up to speed?

In my work hosting the 'Eat Sleep Work Repeat' podcast, I've had the opportunity to speak with a wide range of experts, leaders and practitioners about the evolving nature of work.

The theme that comes over time and time again is that culture is a deliberate decision, it’s a choice. Choosing to be a digital leader pays off and setting your company ethos in line to deliver on that can be hugely impactful.

Data shows that digital leaders - organisations who move fast and actively invest in digital solutions - are able to enjoy twice the productivity growth compared to those who don’t.

This suggests that the key to successful digital transformation isn't just about acquiring new technologies, but fundamentally rethinking workplace culture and how work gets done at all levels across an organisation.

It’s worth thinking about what the practical building blocks of being a digital leader look like. These digital-first companies aren’t just using technology but are actively reshaping their business practices to keep up with or even outpace the competition.

It’s not just about buying the gear- it’s about making sure that teams are changing the way they work.

Such proactive adoption of digital solutions ensures not only survival but significant economic benefits.

As we’ve just witnessed a Budget fixated on stimulating economic growth, a key detail from the research stands out:

If all UK organisations had digitised at the level of digital leaders between 2021 and 2023, the UK economy could have seen a GDP increase of £111 billion.

This could have created 676,000 new jobs.

Growth is within the grasp of all of us – if we plan for it.

The research also underscores the divide between “digital leaders” and “digital followers”.

While 93% of digital leaders claim to have a strong digital culture, 75% of digital followers report the same, which tells me there’s a perception gap amongst business leaders.

We can’t just talk a good game. We need to get on with playing it.

• How the UK missed a £111 billion digital opportunity
• 4 ways your employees can help you build a successful digital culture
• How a digital culture can build a more diverse and inclusive workforce
• 4 ways a digital culture can benefit your customers
• How embedding a digital culture can boost ROI
• How tackling mobile working challenges can enrich your organisation’s digital culture