Next Generation Capabilities: Technology and Workforce Opportunities for Family Enterprises

by Molly Barnes
November 9, 2020

During the October Speaker Series, presenters Danielle Valkner and Claudia Montgomery from PricewaterhouseCoopers discussed digital transformation with members, sponsors, and guests of the Wisconsin Family Business Center. How should your family business utilize it? Here are a few highlights you should consider.

Digital Innovation & Culture

We are currently living in the fourth industrial revolution: the digital revolution. We need to upskill ourselves and our employees to be relevant, especially in a time where top talent is aging out of organizations. Technology, however, is not the silver bullet. While you need to support your employee's digital growth, you also need to be fostering a healthy company culture that supports the digital transition employees are trying to adjust to at work. This will mean big changes for many employees and it’s up to business owners and those in leadership roles to both support them in the adjustments and to make them excited about their digital growth.

A Reflection Point

We have experienced massive change this year and we know things will never fully return to normal. Now is the time to reflect and decide how you want your organization to emerge stronger. Looking at change as an opportunity, especially with the help of new and emerging technologies, can help you and your organization move forward. The pandemic has surfaced lot of issues and those who recognize those issues and act on improving them will be the ones who survive.

Remote working has changed our lives and has significant benefits for both organizations and their teams. Listen to your team on how working from home has impacted them and what technology needs they might have or find opportunities to make that experience even better. Organizations who refuse to adapt to more flexibility in work/life balance for employees will soon be looking for new employees.

Do More with Less

Finally, Danielle and Claudia challenged employers to ask their team members to think about one thing they do in their role that they don’t enjoy that could potentially be done thanks to technology. If it’s something that you can make happen, you will have happier employees who have more time to work on things they enjoy. These do not have to be major tasks either; little automations make a big difference and really motivate teams. Reduce busy work with technology and let employees focus on meaningful work instead – you'll all be happy you can do more with less.

Don’t let new technology scare you into never innovating your business. If you would like to see your family business innovate with emerging technologies, the Wisconsin School of Business Center for Professional & Executive Development’s custom development solutions team can help you create a culture that will support and harness that innovation – contact Sherry to find out more.

Join us for the next Speaker Series event, 2021 HR Trends: New World or Work – Are You Keeping Up?, online via Zoom on Thursday, November 12. Register today! If you would like to attend as our guest, please contact Sherry Herwig at 608-441-7347 or email her at [email protected]