For 1996, Levi Strauss reported record one-year sales of $7.1 billion and a profit of more than $1 billion. However, by 2000, the decline in the market had forced the brand to rethink its appeal to youth. Year-end revenue results for 2000 were $4.6 billion, a 35 percent slump from four years prior.
The primary reason behind this hit was the cycle of disdain, denial, and rationalization that kept the company’s management team to respond meaningfully to the market changes.
Successful companies lose the momentum of their growth. Yes, even the most exemplary organizations in the world have- Levis Strauss, Volvo, 3M, Daimler-Benz, Eastman Kodak and many more. What was common among these companies mentioned above was “failure to adapt”.
Every successful long-term organization can adapt to change by quickly responding to new information or feedback and then acting accordingly. But if adaptability is so critical, how can we cement it into our organizations for the long term? And how can we use it to stay one step ahead of the competition?
While one way of improving your adaptability quotient is embracing technology as an ‘enabler’. New tools can allow us to move faster, and do things better, often at a lower cost than before. But is technology alone enough to realize these advantages? Or does it need to be supported by certain behaviors and mindsets to unlock its full potential?
HR plays a crucial role in the sustenance of both talent and business growth. However, they should own their development and seek adaptability as a skill to master the future of work. Adaptability would be a key to survive and thrive in a rapidly changing world.
To study more about the desired adaptability quotient within the HR teams of organizations, People Matters with Alight is conducting a comprehensive study on how the HR function is gearing up for changing business expectations and getting ready to deliver outcomes in an era that is dominated by employee experience, rapid business model changes, effective adoption of digital and maturing data science.
The survey will offer insightful findings around:
- How can HR adapt to the changing business expectations?
- How to deliver business and talent outcomes in an era dominated by employee experience?
- How to effectively adopt technology and data science to drive your digital strategy?
Over 1000 unique companies spanning across China, India, Singapore, US, Australia, Malaysia, Indonesia, Philippines, Thailand, Hong Kong among others have participated in the survey. The survey HR Transformation 2019 to 2020 is live. Participating in this survey will help you to take a good look at your current HR strategy and craft a holistic approach towards adaptive HR.
What’s in it for you?
Here are a few more takeaways for survey participants:
- Alight will share the exclusive benchmarking report with you, only available for participants. The comprehensive report will help you assess yourself and see how you fare with your peers in this transformation journey.
- You also get exclusive access to a microsite with readiness assessment tool kits, articles and an online community of peers to discuss, share insights and find out if HR leaders have been able to find answers in 2019.
- Get a chance to win two passes (yes, two passes all paid) to attend People Matters TechHR Conference in Singapore from 19th to 21st of February 2019, all expenses paid (travel, stay and VIP delegate passes) to enhance this journey of transformation even further.
Click here to participate in the survey and get access to all of the things listed above.