The role of a future tech leader is to redefine business transformation,” says Alok Bansal
Digitalization, especially in the post-pandemic era is transforming outmoded business models, creating new revenue streams, and altering organizations in an unprecedented way. Besides increasing efficiency and productivity, technological advancement is also demanding adaptability, innovation, expansion, and agility in leadership roles. Alok Bansal, the MD of Visionet Systems India and Global Head of the BFSI business agrees and says, “The role of a future tech leader will not just be limited to management. She/he will have to play a larger role in business transformation. Leaders now need to visualize the next big learning curve and anticipate the challenges that have not yet arrived. Post the pandemic, they can no longer rely on traditional business ideas and conventional leadership strategies.”
According to Alok, future-forward leaders will need to focus on cutting-edge innovation, hyper-digitalization, and cybersecurity. He believes innovation is one of the top drivers of revenue growth and believes leaders and managers will increasingly rely upon Data-Driven Decision-Making (DDDM) to access verified facts and insightful metrics.
“Adaptability to new ways of thinking, learning, and doing business is now an essential part of moving forward and there is no doubt in my mind that future leaders will need to have competency in the latest digital technologies and trends. They will have to envision just how AI, Machine Learning, and Blockchain can be utilized to increase business efficiency, reduce operational costs and increase revenue. A technologically adept leader will not only harness the potential of these technologies but also communicate their effectiveness to the workforce,” says Alok and adds that only well-informed CIOs can competently implement robust cybersecurity strategies and ensure that their company is secure from cyber-attacks and threats like malware, phishing, and ransomware.
Alok also believes that post the pandemic, companies need to grow in more ways than one and adds, “Apart from proactively creating solutions and seizing opportunities to expand their business, leaders also must invest in upskilling and reskilling their workforce. Another sign of progressive leadership is a workplace that aligns with the tenets of Diversity, Equality, and Inclusion (DEI). Such values not only give companies a competitive advantage but also boost the morale of the workforce, make space for innovation and collaboration, and enhance profitability. No business leader can afford a silos mentality in a world that thrives on synergy and inclusivity.”
He believes it is important for leaders to create an expansive, and vibrant talent pool consisting of diverse employees as this enriches businesses with innovative and refreshing perspectives as well as unique creative solutions.
The “great resignation” of over 47 million people in 2021, he says, has led to a lot of introspection within industries, and apart from profitability, businesses have to now also focus on sustainability, offering work-life balance, creating channels of free-flowing communication between managers and teams, and making restrictive policies more flexible. He adds, “Leaders need to match employee expectations and in order to retain top-notch talent, they must offer opportunities for career advancements and make space for a ‘holistic’ corporate culture. Post the pandemic, it is clear that without honoring human potential in all its diversity and complexity, businesses cannot grow sustainably or contribute to society in a truly meaningful and measurable way.”
(The author is Mr. Alok Bansal MD Visionet Systems India and Global Head of BFSI Business, and the views expressed in this article are his own)
