The article also emphasizes the importance of integrating talent and technology, suggesting that organizations should incorporate productivity into their frameworks to attract and retain talent. It suggests that the focus of digital initiatives should shift from cost optimization to revenue generation. The author concludes by urging all stakeholders to adopt a new, agile definition of productivity that takes into account evolving digital tools and assets.
Key takeaways:
- The definition of productivity needs to be modernized and standardized, with a focus on doing better with less or doing more value-added activities rather than transactional and repetitive tasks.
- Digital accelerators such as automation, data analytics and AI are key to achieving a non-linear relationship between inputs and outputs, but their effectiveness depends on how quickly an economy can adopt and deploy them.
- Organizations need to incorporate productivity into their framework to attract and retain talent, with upskilling/reskilling initiatives and incentives to enhance the productivity of human capital.
- Technology platform providers and system integrators play a crucial role in the digital era, acting as enablers for productivity enhancement. They should help clients fully use their platforms, with pricing based on business outcomes rather than just subscriptions or usage.