How Singapore firms can stay ahead in the game through embracing change

I once worked as a consultant with a company which constantly “re-invented” itself. Every few months, management would change the work processes and procedures—the ways how things should be done. Things would settle down for a while, but before long, there would be another round of re-invention again.

Those frequent changes to processes and procedures meant that staff was drowning in getting things done with each subsequent change. The company was so focused on internal processes that staff never had a chance to think, let alone come up with new ideas to delight their customers. As a result, the company never became successful. They struggled along, barely able to keep their heads above water.

Then of course, there is the other extreme: companies that are successful and are too afraid to change. In fact, the very thought of re-invention for Asian companies can be daunting. We value the status quo. However, market conditions change so rapidly that companies cannot afford to continue to do things the way they were, hoping that would ward off competition while increasing productivity without altering their deep-seated processes and procedures.

I believe the key to staying ahead of the competition is to embrace change. The workforce is changing. The way we work is changing. The way we do business is changing and there is need to adapt to these changes so that companies can continue to be innovative and stay ahead.

Having fun is serious business

The workforce is changing. The younger generations of employees have very different expectations. They want work to be not only social and interactive but most importantly, have fun. Fun at work? Fun doesn’t necessary mean team lunches and gifts but a part of a wider business strategy to engage and be relevant in today’s world.

As our workforce changes, our customer base evolves as well. Businesses want unique experiences through creative ways of engagements. Therefore, we benefit from enjoyable customer interaction with our brand. This can be done through sports and marketing activities such as a musical, enjoying a game of bowling after work and even activities around common interests and hobbies. Conventional ways of talking business may not always work and companies have to re-invent to think out of the box and engage their customers and partners.

Adopting a startup mentality by listening to what customers really need and adapting products and services to fit them will enable companies to be competitive. We should never be afraid of listening to what customers want and how they perceive our products and services. If we do not adapt quickly to customer needs and what they want, someone else will. A common mistake is to surround ourselves with sycophants and feeling smug about current achievements. We may be here today but gone tomorrow.

Embrace Technology

Technology has significantly influenced the way we do business. Take cloud, for example. The availability of cloud computing and connectivity have enabled companies to tap the benefits of a mobile workforce. However, before we adopt any cloud technology, we have to understand the needs of our employees and then roll out new processes and policies in phases so that there is smooth transition towards a mobile, productive workforce.

This change has also brought about a new set of challenges. One top challenge is to ensure that data security and privacy is protected without hindering the productivity that such new technologies are supposed to increase.

Consider solutions that can free up your staff to spend time with your biggest asset—your customers. Companies should invest in products and services that can save valuable time so that staff can be more productive and more efficient in facing your customers. For example, one of our customers recently deployed our second-generation multifunctional printers which enable users to print directly from their mobile devices and tablets, instead of via a desktop or laptop computer. That is productivity where it matters.

Invest in the Right People

While business strategies and appropriate technologies are important to an organisation, finding and keeping the right people is key to driving any business.

Although some companies think that employees should be grateful to have jobs, this attitude on the part of employers is no longer respectable. Job security isn’t the main consideration anymore; employees leave in search of career advancement opportunities, and so long as the organisation finds ways to enrich their work experiences, they should stick around for a very long time. I believe that if you invest in any employee, you will be repaid many times over—both in the way they focus attention on driving the business forward, and the lingering positive work ethics they leave behind, even after they have left.

Constant skills upgrading and training is one area that should not be overlooked. This has three main purposes. Firstly, because we value customer relationships, we should give our employees the best possible professional training to provide better customer service. Secondly, because we value our staff and want to empower them to make good decisions, we should train them to do so. This creates ownership on the part of the staff. Lastly, by helping them earn recognition through successful completion of accredited training courses, we create a sense of self-achievement and pride in their roles.

Move as One Amidst Change

The thought of change often causes confusion among employees. Just as every ship needs a captain, companies need to have a leader who is able to ensure that the organisation moves in the same direction with a common goal and mission. Having a transparent and clear channel between employees and management and allowing room for clarification allows all stakeholders to be on the same page. For example, at Canon, we have monthly town hall sessions to promote dialogue and feedback.

Change can be frightening but it can also lead companies to greater success. Companies that can respond to change rapidly and effectively will find the competitive edge. To not change will be unthinkable.