Businesses need to prioritise transformation if they are to succeed.

You only need to glance at the Quartz bulletin, see Trump shaking hands in Singapore or read the latest on the Brexit fiasco to recognise that we are experiencing an unprecedented time of change. The power of social media to enflame, expose and elevate an issue, the conflicting priorities between national and global interests, differing generational outlooks and the quest for balance across the genders are just some of the factors at play on the global stage currently.

They’re also the fundamental challenges that face businesses in their quest to remain relevant today. One of the less anticipated symptoms of the much lauded global business model is the resulting silos, united across regions, but often unconnected to the business unit sitting right next door – this has created unwieldy and cumbersome processes leaving smart people spending too much of their time navigating politics and silos in order to achieve results. The model needs re-evaluating to create space for great ideas and innovation to live. Businesses slow to the Millennial party failed to fully welcome in a hugely energetic generation, who didn’t ask for permission before acting, set new work boundaries and revelled in the opportunity to grow skills and move on to the next thing, They took us by surprise and as they move into management roles, a whole new world awaits. Those not ready to adapt, risk falling behind.

Approaches to promote ‘gender equality’ in the work place, have focused mostly on promoting women’s causes, increasing numbers to the board or coaching key talent. This is hugely important, but if the conversation remains focused amongst only women, we dabble round the edges. To stand any chance of achieving effective change here, there needs to be genuine communication between men and women, to understand the preconceptions and expectations each gender face when considering parental responsibilities, societal pressures and their personal career ambitions and challenges. The business world was created at a time when society functioned differently, that shouldn’t be criticised but like any organisation or structure it needs to adapt at the pace of society in order to survive. It’s been left unaddressed for too long which has left organisations flailing and unsure of how to tackle an issue that could fundamentally change their fortunes.

These factors by no means constitute an exhaustive list of the areas businesses need to look at if they are to thrive during an uncertain time, but the ability for companies to recognise the drastically changing landscape and ready themselves ahead of it, is fundamental to survival. There is no room for complacency.  Businesses need to prioritise change and engage their best minds to set out both a strategy and a robust plan to deliver against this.  

Playing by the old rules no longer ensures success.  Hilary’s shock defeat serves as evidence of that.