Complacency is costly. It is time for radical change and massive action.
Don’t Be Like Kodak.
Kodak at one time was the market leader in photography and film, positioned to be the pioneer of the future. They created the digital camera technology yet misunderstood the ways that consumers wanted to interact with their photos. They were soon wiped out by competitors who innovated on their pioneering products and filled the niche that Kodak created yet failed to capitalize on.
In many aspects, ignoring the signs of what was happening in the marketplace are what lead to the downfall of Kodak. As leaders, it is vital to pay attention to the signs and not just get comfortable doing what you have always done when the marketplace you are operating in has changed. Many businesses today are operating like Kodak, not realizing the cost to their business of not rolling with the times. Today, they are not taking the time to understand the changing needs of the workforce, particularly those of millennials, who now comprise of nearly 50% of the workforce.
The time is ripe for a culture change.
Here are three best practices to embrace to get the ball rolling:
Business is changing rapidly. If you’re not adjusting to the needs of your people by offering training that engages their hearts, expands their minds, and feeds their soul, they won’t be inspired and they’ll eventually leave to work for companies that do.