As the technology industry in the Triangle and beyond moves through another demanding year, leaders are actively strategizing on ways to drive innovation while navigating new business priorities in the face of rapidly evolving customer and workforce dynamics.
Within these challenges lies significant opportunity – and one thing is certain: this year, digital transformation centered around emerging technologies and data-driven strategies will play a vital role in advancing innovation goals. Most importantly, leaders who drive intentional, customer-focused tech improvements will come out ahead.
At a time when technology advancements hold the potential to shape our future both at an enterprise and individual level, what will define success in this space is bringing new and improved value to customers while positioning the business to stay ahead. To truly capitalize on this transformative era, we must re-examine innovation strategies and prepare our workforces for the jobs of tomorrow.
Here are top priorities technology leaders should consider this year to drive true value through innovation:
1. Alignment is key.
As 2024 shapes up to be a year of transformation through tech innovation, alignment has become more important than ever. The business landscape continues to evolve rapidly, and organizations are faced with dynamic challenges, technological advancements, and shifting consumer expectations. A tightly aligned company is better equipped to navigate these changes.
Alignment ensures that all departments and teams work towards common goals, fostering synergy and efficiency. This collaborative approach is crucial for adapting to emerging trends, implementing innovative strategies, and responding swiftly to market shifts, giving companies a competitive edge.
In addition, the interconnected global economy demands a heightened focus on company alignment. With hybrid work and dynamic workforce structures becoming the norm, maintaining a unified corporate culture and shared vision is essential. This alignment not only enhances employee engagement and satisfaction but also creates an environment where team members can do their best work, think big and fuel innovation like never before.
2. Innovation is everyone’s job.
Promoting a culture of innovation means creating an environment where collaboration and continuous learning are at the forefront. Encouraging collaboration across departments and functions plays a key role in eliminating silos and fostering new ideas and ways of thinking. Innovation is not just the IT department’s job. Rather, the strongest leaders know that innovation is dependent on an entire organization’s commitment to growth.
At MetLife, we’ve created multiple programs that invite all employees across levels and functions to contribute. For example, we launched our first annual global Hackathon where more than 2,700 employees participated to develop and showcase over 300 unique solutions that were evaluated to help drive innovation forward. These kinds of programs instill the message that everyone can and should bring ideas to the table.
3. Close the STEM gap.
The technology sector and broader STEM industries benefit from diverse thoughts and ideas.
Leaders should acknowledge the impact tech advancements will have on their workforce, and as such participate in discussions that educate and inform their strategies. To do so, establishing cooperative forums to ignite action-oriented dialogue is necessary.
An example of this is MetLife’s annual Triangle Tech X (TTX) Conference which convenes global industry leaders to discuss advancing women and underrepresented groups in STEM. Another example is MetLife’s recent roundtable-style think tank which gathered a diverse range of tech leaders from the largest tech employers in the Triangle. These collaborations have resulted in many significant and forward-looking discussions, as well as a dedicated LinkedIn community to drive conversations around STEM equity year-round.
To progress forward, it’s essential for industry leaders, non-profits and change-makers to bring the brightest minds to the table and commit to sharing insights, learnings and ideas freely in pursuit of progress.
4. Future-proof your organization.
Innovation should not be about jumping on the latest trend. Establishing a responsible technology strategy that benefits the organization in the long run and adds value for customers should be the lens through which innovation is viewed.
Cybersecurity, ethics and responsibility in technology development and implementation must remain top of mind as innovation forges ahead. Prioritizing these practices and building them into the design of products, platforms and tools from the start ensures that all new tools and technologies help grow and retain trust among customers and stakeholders.
5. Keep the customer at the center.
Businesses that place customers at the core of their strategy are able to build resilient and lasting customer relationships. As customer expectations shift at a rapid pace, we must adapt to their evolving needs and seek feedback throughout the process.
Creating an ecosystem of customer feedback can be achieved through working cross-functionally across departments and teams. Using these insights, leaders should guide their teams to develop tools and services that are intuitive, user-friendly, and seamlessly integrated into the customer’s daily life. This orientation not only enhances customer satisfaction, but also contributes to long-term loyalty and trust, critical factors for success in today’s highly competitive environment.
