Episode: 151

Episode Title: Digitize or Dwindle
File Name: digitize-or-dwindle

At the start of the pandemic, individuals and organizations took a “wait and see” approach. But that strategy doesn’t work today. Find out why, coming up next.

Ep 151 show:
Hello and welcome—you are now in The Perna Syndicate! When the pandemic first struck the U.S., survival was our first instinct. The idea was to hunker down, sit tight, live to fight another day. Given the newness of the virus and a future full of unknowns, this strategy made sense at the time. But it doesn’t anymore.

It’s time for organizations to digitize—or dwindle.

A recent study by ManpowerGroup gathered perspectives from more than 26,000 employers globally. They found that, as a result of the pandemic, almost 40% of companies are accelerating their digitization and automation. According to the report, more jobs are being created than eliminated at these companies.

Interestingly, almost half said that the pandemic has had no impact on their plans to digitize and automate. Meanwhile, the remaining 17% have slowed or stopped their automation plans altogether in the wake of the pandemic. Of these companies, just 11% are adding to their workforce. It’s clear that the digitizing companies will lead the way in job creation—and soon, in everything else.

Whether in business or education, we can all take a lesson from this study’s findings. Organizations that are embracing the new digital future are on the path to thrive. They’re adapting, not resisting, and it’s going to make all the difference. But the companies that are waiting or even backtracking on their digital progress are going to falter.

Digitize or dwindle…it’s a lesson for us all as we move into an increasingly virtual world.

That’s today’s insight from The Perna Syndicate. For more free resources, connect with me at MarkCPerna.com. We’ll see you back here tomorrow!