Victoria Riess: Revolutionising work through technology

07. February 2024 – Victoria Riess

We’re back and it feels great. The last few years have been pretty turbulent, haven’t they? The pandemic, social upheaval, climate change, the Russian invasion of Ukraine, runaway inflation. And yet I’m optimistic. Because despite all the madness of recent years, the world somehow keeps turning. And offers us opportunities to make a difference and revolutionise work through technology.

Talent crisis in the technology sector

Recession or not. Talent like you can’t be found for love or money anywhere in the world. In almost all regions and for almost all skill sets, we are seeing increased demand for talent, higher turnover and longer hiring cycles. Your organisation and you are at the epicentre of this talent crisis. You know that.

No matter how much your colleagues complain that they can’t find great talent. It’s actually harder to be you in the tech industry. Recruiting is hard, but recruiting professionals with technical skills is even harder. Good luck recruiting a position that has the word engineer in the title. So you and your employees are at the epicentre of the talent crisis.

Digital skills as a solution to the talent crisis

But what your company may not know is that you and it are also at the epicentre of the talent solution. The pandemic that has sent so many workers home has also given them fantastic digital skills and made them hungrier for good technology.

In Europe, 72% of workers say digital technologies are essential to their success. And 62% of workers see improving their digital skills as essential to their work.

Technology empowers along the employee lifecycle

Technology is more important than ever for the recruitment, retention and high performance of all employees in organisations, not just in IT. Let’s take a look at some new data along your employee lifecycle that may surprise you.

Technology and recruitment

Firstly, the role of technology in recruitment. In studies, job seekers were asked about their experiences with technology, and one of the top three pain points was annoying or cumbersome application technologies and portals.

Many of these disgruntled individuals cancelled the application process, declined a job offer or wrote a poor review based on their technology experience. So there goes the hiring process.

Technology and employee retention

What about technology and employee retention? Employees who have a good experience with their company applications are twice as likely to stay with their organisation. This has a huge impact on employee retention.

Technology and performance

And what about technology and performance? Employees who have all the tech tools they need are less fatigued, have a higher intention to stay and perform better.

Unfortunately, in Western Europe, only 24% of employees say they have all the technology they need to work effectively. You won’t really win the competition for talent if you annoy your employees with your technology.

A great opportunity to make the difference

This also means that you and your organisation have a great opportunity to make a difference. By using technology to support you as employees, you can create a place where people really enjoy working.

Take action and make decisions

Even if the world is currently experiencing a downturn, you cannot opt out. You still have to act and make decisions. I ask you to resist the temptation to take a step backwards. Now is the time to take a step forward.

I know I am asking a lot of you, but that is because there is a lot you can do. I’ve shown you the impact of technology as an enabler of New Work. Now is the time to make your choices and take action.

You are the ultimate levers – let me tell you something:

“You can keep your company and the world going because you really are the ultimate levers. You are the ones who will deliver the technology as an enabler for the New Labour. I know you can do it and I know you will do it.”

Victoria Riess

Thought Leader for Corporate Strategy, Expert in Digital Transformation & Cybersecurity, Top Women Leader in Tech