In today’s society, technological change is the norm – new opportunities are continually arising that change the way a business operates or improves products and processes. Businesses that are complacent can risk failing.

Creating a workplace which emphasises the need to meet changing demands is important. That is where agility fits in. An agile workplace is one that adapts quickly to the changing needs of the market, its customers, employees and other key stakeholders. Agile workplaces respond faster to these trends and disruptions, are more efficient and encourage innovation. Consider the following ways to promote a culture of agility in your workplace:

Staff training and development
Building up your team to deal with disruptions and contingencies is key. Cross-training and reskilling your staff is one way to meet the ever-changing demands of your business. This provides flexibility as roles can be rotated and a variety of tasks can be delegated. Having multidisciplinary teams also helps to create a smooth transition when a staff member leaves and another employee starts, meaning the team won’t suffer too much from the departure of one staff member.

Use data to make decisions
Agile businesses determine the strategic direction of the business by evidence obtained from multiple sources of data and insights. By using data rather than relying on knowledge alone, businesses can gain a competitive advantage and respond to predicted forecasts and opportunities in a more timely manner. Data can also be utilised to reduce inefficiencies and manage risk more effectively.

Leverage technology
Technology is the ally of agility. To successfully thrive, technology must be at the forefront. Traditional business models are continually changing with technology providing new ways of doing business. Adopting new technologies and encouraging adaptation among staff can help to remain competitive and agile.
 

For advice or assistance with any of your strategic business decisions, contact your AGS Accounting Relationship Manager.

Published : 20 Sep 2018