In today’s market, it is disrupt or be disrupted. Every industry is exposed to disruption in some way. In the face of these disruptors, organizations have two choices: continuously reinvent themselves or be left behind.
The pace of change has not only accelerated but has manifested itself in a reduction in tenure on the S&P 500, with a 77% decrease in average lifespan since 1920. According to some projections, 50% of S&P 500 companies will be replaced in the next decade.
Recognizing and adapting to the disruption is key to transformation, and HR leaders must play a pivotal role in driving this strategy. Driving transformation will likely necessitate a closer look at processes and technology, but the real key to a successful transformation is your people. By focusing on and investing in your people, your organization will be better set up for sustainable performance improvement and the type of cultural change that’s necessary to turn disruptive crises into transformational opportunities.
This toolkit focuses on three of the most common disruptors:
• Mergers and acquisitions
• Emerging technologies
• Changes in regulatory compliance
It is virtually guaranteed that you and your team will experience one or more of these in 2020. This toolkit walks through the impact of these disruptors—on your people and on your business—and provides you with specific actions to help you attract, retain, and develop a team that will thrive in the face of disruption.