Digitization Vital to Drive Growth in Emerging Economies

by Managed Outsource Managed Outsource Solutions
The present-day business world is rapidly digitizing and creating new opportunities. As a first step to digitization, most organizations establish partnership with providers of data conversion services to create electronic versions of all paper documents and streamline overall functioning.  Digitization has become a necessity to enable the business to be agile, customer oriented, well connected, innovative, efficient, and be aligned to the current and future needs of the customer. With businesses getting digitized at a rapid pace, the workforce also needs to have digital skills to compete in the job market. Digitization of the economy is a very important consideration now because it is one of the most important catalysts behind the dramatic transformation of the labor market and the way people work. The new working model is challenging for employers, labourers and the public authorities. Job profiles are changing, some jobs are becoming outmoded, and now any mismatch of talent is more evident. The challenges involved have to be understood to identify the most suitable policy options that can transform those challenges into opportunities.

Digital skills become most important for the development of the digital economy and society in emerging economies, for instance, the Eastern Partnership countries (post-Soviet states of Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine.) This aspect is discussed in detail by David Tsiskaridze and Maksim Belitski in their article published in The Financial. In such countries, people need adequate digital skills to be empowered in a digital economy and society. The Eastern Partnership initiative that was begun to govern the relationship of the European Union with the above mentioned states, intends to offer an avenue for discussions regarding economic strategies, trade, travel agreements, and other issues between the EU and its Eastern European neighbors. Naturally, there is increased demand for digital skills in these countries, to address which there should be constructive collaboration among national authorities, businesses, social partners, education providers, and non-profit organizations. The important consideration is to encourage people to become digitally literate. People should be encouraged to think about how they use technology and interact with advanced technological innovations.  The writers suggest the following.

  • Policy makers and employers should focus on delivering and communicating current and future requirements to digitalization and digital skills, policies, and practices; equip workers with the necessary skills that are compatible with those adopted in Western economies.
  • Policymakers should identify technology trends that have an impact on the strategic role of leadership in the digital economy and turn it into a digital leadership strategy. This could be done to share the latest results adopted by the European Commission on the demand and supply of digital talent; support research at universities; design apt policies for entrepreneurs and businesses to make possible digital skills training.
  • Employers can focus on developing knowledge networks and engage in knowledge transfer with local and international businesses via training, coaching, consultancy and co-design, where these skills could be imitated, learned and further adopted.
  • Employers can also design and provide educational offerings in the field of digital leadership; this can be done in-house or through online open courses available.

There are new opportunities for business in EAP and other developing economies. It is estimated that in Europe, at least 37% of the workforce do not have basic digital skills. Companies don’t have the more advanced specialized skills that are so necessary for successful adoption of digital technologies. The situation is worse in the EaP countries. Taking into account the rapid technological improvements in the last few decades, new job possibilities and new online services have been introduced. This highlights the need for digital skills that are indispensable if you want to exploit the new opportunities available and play a key role in the evolution of the digital economy. 

The journey towards a digital enterprise is an ongoing one, and there is a constant need to evaluate the impact of digitization on traditional jobs and the skills needed in the changing scenario. In any part of the world, strong partnerships, adequate policies and appropriate funding are required to handle present day digital skills challenges. Tsiskaridze and Belitski believe that national digital skills strategies are necessary for all EaP countries, which address the modernization of education. These strategies should be implemented with the support of national coalitions. A cross-European coalition is vital to spread the best solutions to the common digital challenges and achieve scalability. Such coalitions should connect and improve dialogue among industry, government, education and training, and social partners employing the best practices to support satisfactory training programmes.

The recommendations they provide are ideal for any country aiming to digitize the economy:

  • Raise awareness about digital technologies, what digital technologies are capable of achieving, how they can support each business operation, and what IT infrastructure is required to sustain these operations. 
  • Let people know about the importance of the use of digital technologies to support and improve business performance, productivity and internal organization. 
  • Widen the availability of digital skills through education and training or you can also outsource to reliable BPO company who can assist in digitization process. 
  • To meet the changing needs of the digital economy, the education and training sector must be supported to develop and modify its offerings. Training that focuses on developing digital competence and digital skills is general can immensely help in addressing the digital challenge.

The most effective means of improving employability and narrowing skills gaps aim at improving the workers’ capability to acquire new skills and learn in an emerging economy. Different types and levels of digital skills are required for employers according to the sector in which they function, their size, market, and the country in which they are based.  For any organization, digital transformation begins with information/business data capture which is best achieved with the support of professional data entry services.

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Created on Feb 21st 2018 02:24. Viewed 566 times.


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