Intelligent Fin.tech Issue 11 | Page 69

CHEQUING OUT support , things can still fall flat . For example , if you entrust your business ’ s Digital Transformation to a third party , you may be left with new processes that conflict with what your team already has in place . Leaving your team in the dark during Digital Transformation also complicates future maintenance and support tasks .

As a tech vendor , what in your opinion , are the signs of a strong technology partnership ?
I may have just cautioned about the risks of outsourcing during Digital Transformation , but there is , of course , real value in establishing strong technology partnerships . Finding the right match , however , requires stringent vetting of potential partners .
Experience is among the first factors to consider when evaluating technology partners , and I ’ m not just talking about their years of industry experience . Instead , assess each potential partner ’ s approach to the user experience , for both employees and customers . Look for a partner who prioritises the user experience and easy access to business solutions instead of fanciful but complicated tools . A potential partner ’ s approach to security should also be top of mind .
It goes without saying that working with a third party requires you to grant them access to sensitive business and / or customer data and this always comes with risks . Carefully weighing a potential partner ’ s security measures and dependability is an important factor that cannot be overlooked . Done right , Digital Transformation will position your business for strong future growth with opportunities to scale . Adopting new technology , however , inevitably opens the door to more cyberthreats . A strong technology partner , then , is one you can trust to evolve with you as your business scales and cyberthreats increase .
Last but not least , the talent shortage continues to be a problem for IT leaders , how can they address this ?
For IT leaders , a thorny consequence of the pandemic is the increasingly challenging quest to secure top-tier talent .
Before COVID-19 , traditional geographic constraints simplified the talent search , as people typically moved to cities like London , San Francisco and other big tech hubs to seek job opportunities . With the talent pool consolidated in relatively few areas , it was easy for businesses to know who their competition was – they were often right next door .
Now the hiring game has gone global , with businesses expanding their recruiting efforts beyond international borders , making it harder for companies to win and retain talent .
And when they lose talent , the effects are palpable : in a recent survey of 1,000 IT managers across the UK and the US , 71 % say high attrition rates resulted in ‘ knowledge loss and their current employees struggling to access important information ’.
The answer to overcoming the talent shortage ( and avoiding its sour effects ) lies in attrition : what makes employees walk away ?
For one , rigid working environments .
Remote work became the norm for much of the knowledge workforce during COVID-19 , and it was seemingly here to stay , until companies like Google and Amazon issued RTO ( return to office ) mandates . In response , many businesses are now facing a backlash from employees and experts who call hybrid work the ‘ only sustainable solution ’.
Beyond competitive wages and hybrid work environments , IT leaders must consider employees ’ new desires if they want to attract and retain the desperately needed top tech talent .
In many ways , IT leaders need to approach the talent shortage as they do their IT departments , their technology partnerships and Digital Transformation as a whole ; none of these components exist in a silo and all must be approached with a long-term strategy to ensure successful future growth . � www . intelligentfin . tech
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