Driving Transformation – Engaging Customers and Employees, Five Actions to Take
This is a featured Blog written by Koley Corte, SVP & Global Head of Business Transformation at AllianceBernstein
Most, if not all, successful incumbents today realize the pressure and need for change. At its essence, changing customer expectations, emerging employee preferences and work styles and new technologies and solutions have created the need and opportunity for businesses to work differently both internally and with customers. To continue to be relevant and compete with new entrants and disrupters, these businesses need to modernize their solutions, products and ways of doing business.
In my role at AllianceBernstein as SVP and Global Head of Business Transformation, I spend my days engaged around this very topic. Thinking about how we understand and best deliver against these changing expectations and needs, leveraging digital and data to drive scale and also drive focus/prioritization are top of mind objectives. We are continually looking for new ways to increasingly personalize our experience and create relevant and engaging experiences for customers and employees. We are focused on being easier to work with for our customers and our employees and some of that includes exciting areas of emerging technology including the introduction and use of chatbots, artificial intelligence and emerging digital and social platforms and channels.
To adapt to all of this change requires cultural change as well. We are working to equip our teams with the knowledge, tools and experience to enable them to focus on the highest value added activities with automation and robotics freeing them up to focus more strategically. We are designing our workspace to better echo that thinking with data visually surrounding them, helping link their actions with outcomes. And we are training employees in this process.
We are all on a continuous journey, adapting to new ways of working and changing behaviors. To do so, I recommend:
Start with the customer – Listen and Observe. In order to ensure your business is working successfully you need to understand your customers needs, behaviors and pain points.
Focus on solving against those customer needs. How can you make things easier at every touch point you have with your customers. How can you improve their day to day life and experience.
Stay in touch with market and competitor activities – along with the knowing the customer, these provide the environmental backdrop. It is important to understand how your offering is differentiated from your competitors. How can you improve upon what makes your company unique while making sure to meet all the needs of the market.
Understand new and emerging approaches – within and outside of industry. Be ready to innovate whenever possible in order to stay ahead of the curve.
Equip your teams with the tools, approach and knowledge to evolve. As you innovate and incorporate new strategies stay willing to leverage new technology. This will help your team retain a new generation of employees while empowering them to streamline their work.