| | DECEMBER 20219CIOReviewfound that the investment in reskilling initiatives (let alone digital engagement initiatives) has a positive cost benefit balance. Research by Gallup supports this as well demonstrating the reskilling has a more positive cost benefit than replacing workers with more highly skilled workers external from the organization. Reskilling is important, however what we are talking about here is digital engagement. This is about building the culture for transformation in a people-led, highly engaged way. Not only does this approach enable people to reskill, but it also creates the environment where those skills can be best deployed in a value-creating way. What are the differences between reskilling and digital engagement? Well, it is important to note that digitalization creates a skills gap within organizations, where the amount of internal digital capability is insufficient to meet the needs of the business to digitize internally and create new digital products, services and ecosystems within their value-chain. A focus solely on reskilling means that businesses are constantly attempting to back-fill an already-existent skills gap. Engagement approaches, however, look at creating a mindset shift as well as developing new skills.Where to start with employee engagement approaches to digital transformation? No matter what the composition of your workforce, engagement starts by having everyone talking the same language and drawing from the same lexicon of understanding when it comes to digital and your strategy. Everyone in the business, from the CEO to the receptionist needs to be provided with the opportunities to engage with your digital strategy and understand its meaning. Having a common language is just the first step. Understanding does not equal knowledge. The approach that businesses need to take to build a culture that supports sustained and ongoing digital transformation also needs to provide targeted skills development, opportunities to apply new skills on value-creating projects, strategies that seek to partner with other businesses to cocreate value, and innovation and experimentation programs that enable employees to take calculated risks. Many businesses invest significant sums in the development of digital products to find that they aren't taken up by consumers or clients. There is a growing list of the most notable digital fails. Digital transformation is, by its very disruptive definition, a high risk and highly uncertain process. However there is one digital investment that has been demonstrated time and again to return significantly on investment: investment in holistic people development and engagement. So, rather than bolt-on some online learning to your digital strategy, start with your people at the centre of its design, engage them in cocreating your strategy and design processes, and provide them with the skills and support necessary to experiment. The research shows this approach will pay off. Technology can be a very powerful tool in the construction, and the broader real estate, industry
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