Long-term success in today’s hypercompetitive global market requires unparalleled levels of efficiency, accuracy, and cost-effectiveness beyond what a human workforce can provide. This is the precise reason behind the rapid adoption of robotics by a diverse spectrum of industries, ranging from finance and healthcare to retail, manufacturing, and consulting businesses.
Experts believe that businesses that invest in robotic process automation (RPA) today will be able to reap exceptional cost-efficiency and productivity benefits tomorrow. On the other hand, those that remain unable to integrate robotics and cognitive automation in their operations will be at a disadvantage in the future.
Although investing in robotics and advanced automation technologies offers unparalleled benefits, technology adoption has its share of challenges and risks as well. Fostering a culture of innovation and research within the organization is a primary challenge faced by most businesses.
A large number of RPA projects fail every year due to the leadership’s inability to consider it as business led, as opposed to IT led. A successful RPA project requires close collaboration and teamwork from IT, HR, cybersecurity, and various other enterprise functions. Without this, businesses may remain unable to get their desired return on technology investment.
Apart from the lack of a long-term strategic approach towards robotics, talent shortage is a major stumbling block that stands in the way of businesses ready to leverage full potential of the technology. According to TechCrunch, there were 2.5 times as many STEM-related job postings in 2013 as there were STEM graduates. Therefore, to fulfill their talent needs, employers should either recruit global talent or develop a strategy to update the skill set of their existing workforce.
Depending on the workplace culture and the scope of their RPA project, firms may also need to develop strategies to get buy-in from their employees and foster an environment where humans can work alongside the machines. To make a transition, businesses need insightful yet strategic leadership that can communicate to employees that the goal of RPA is to drive operational excellence, not to reduce headcount.
Allen Austin helps businesses hire highly qualified professionals who have the right skill set, experience, and attitude required to address the multi-dimensional challenges associated with the adoption of automation technologies. As executive search and leadership development specialists, our consultants excel at attracting, recruiting, and retaining top global talent that offers the perfect blend of technical expertise and strategic insight.
With over 20 years as a top retained executive search firm, Allen Austin is well-versed in the challenges technology-driven companies face in their quest to find the best talent to fuel their technology initiatives. We use our proven methodologies based on our ForesightTM Process to help clients find the right talent that can drive their business forward.