We’ve reached the end of 2014 and what a year it has been.  In the financial services sector this year was billed by FCA Chief Executive Martin Wheatley as the year of consolidation, the year in which we finally put clear blue water between the failings of the past and a new era of customer service and of doing what was right rather than what lead to swift profits.

Although there have still been the last faint rumblings of fines and continuing fallout from the recession we have also seen the emergence of a new challenge, one which is going to shake up businesses more than ever in 2015.  That challenge is the digital challenge.  Right across the board, not just in the financial services sector but elsewhere as well we have seen new players in the market, entrepreneurs eager to make the most of the new technology and to transform their businesses into ones which are lean, streamlined and provide exactly what the customer both wants and needs.

In every sector, businesses which have spent the last few years in consolidation and fire-fighting in an effort to stay afloat are now starting to look towards the future, to build and to expand into a new era of growth and profitability.  On their side is the tremendous leap forward in technology which almost went unnoticed against greater recessionary priorities.  But now 3D printing, fast internet communications, technological breakthroughs and a greater universality of mobile connectivity all combine to help businesses to do more, be more.

But progress comes at a price and the price for adopting new digital models is that the culture and behaviours of the organisation will need to be reset.  No longer can ‘back office’ employees operate in isolation, no longer can suppliers be seen as third parties, no longer can customers be held at arm’s length.  Moving towards a streamlined digital model means treating everyone as an integral part of the organisation and taking steps to draw everyone in to an inclusive culture. 

Step forward training and development.  Inclusion requires dialogue, it requires collaboration and it requires innovation.  Skills such as communication, teamwork and an open attitude may need to be reviewed.  All this, whilst at the same time training employees in the use of new technology.   Is there an option?  No, not whilst new entrepreneurs are pouring into the market; all eager to make the most of the potential to be gained from the digital revolution.  Is it worth the change?  Emphatically yes as co-creation, streamlined processes and new attitudes translate into loyal customers and engaged employees.

We’ve had our time of consolidation; now 2015 marks the start of a new era, one in which technology frees us to work collaboratively for the good of all.  If you’ve got a question on resetting organisational culture to make the most of the digital revolution feel free to email Derek at derek.bishop@cultureconsultancy.com or visit www.cultureconsultancy.com for more information on organisational culture and employee engagement.