CEOs lead and support digital business initiatives
One in three executives expect 75% of their revenue to come from digital business over the next three years. This forecast has tripled since the 2019 study
BY RRHH Digital, 12:10 – 27 December 2020
Workday, Inc. has released the first results of its global executive survey “Organizational Agility: A Roadmap to Digital Acceleration,” which explores the state of digital initiatives and organizational agility.
In a year marked by the global health crisis that caused economic and geopolitical upheaval, agility has become the key to success, according to this study. Workday surveyed over 1,000 executives and business leaders to identify key challenges and opportunities in the offices of the CEO, CFO (CFO), Director of Human Resources (CHRO), and CIO (CIO) during the adoption of digital best practices for greater organizational agility. Survey results indicate that business leaders plan to accelerate digital initiatives, with a third of them indicating that the only change that will improve the organization’s resilience to future crises is accelerating rates of loss. digital growth.
Highlights of the survey include:
Digital incomes are dominating and accelerating. Over a third of businesses expect 75% or more of their revenue to come from digital (whether digital products or traditional products sold online) in the next three years. This figure has tripled since 2019, when only one in ten companies had this projection. Changing tools is easier than changing mentalities and habits. While more than half of organizations (56%) say their technology supports digital transformation goals, only 16% say the same about their corporate culture. Without an additional focus on people and culture, organizations run the risk of not reaping the desired benefits from investments in technology. Agility extends to investing in technology. More than three-quarters (77%) of companies now say their organization is faster at taking action when technology investments fail (an investment that is not implemented or used successfully), up from 70% in 2019 Continuous planning is emerging as a new best practice. Almost half (43%) of those surveyed had adopted continuous planning before the pandemic, and three key factors signal success: access to data, deployment of smart technologies and a lean culture.
The report details strategies for enabling organizations to overcome the obstacles they face in adopting digital technologies, in order to achieve greater organizational agility. These include building an adaptive culture, investing in smart technologies to increase digital revenue growth, ensuring real-time data is accessible for decision making, and leveraging cross-functional teams to drive business intelligence. improve the training (upgrading) and retraining (requalification) of employees.
Priorities for digital initiatives differ between different departments
The results also examine the perceptions and challenges of all key functions when examining digital technology initiatives and challenges. Between the offices of the CEO, CFO, CHRO and CIO, different priorities emerged:
CEO’s Office: Digital Optimists. CEOs are the most optimistic about their company’s digital transformation efforts. However, they see culture as a barrier to almost every aspect of agility, with almost one in three seeing corporate culture as the biggest barrier to continuous planning (31%) and accessibility to business. data (32%). . Office of the CFO: Futuro Tecnlogo. The finance department is focused on ensuring systems are highly integrated (64%) and cloud technology is deployed (49%) to improve the planning and information cycle, as well as to mitigate the risk of future crises. CHRO office: cultural facilitators. HR leaders focus on developing the culture their business needs to embrace true agility. However, only 62% of HR leaders agree that incentives and key performance indicators (KPIs) align with cultural results or that the culture of the organization allows the company to embrace change. CIO Office: Data Advocates. The skills considered most valuable among IT and operational managers are the ability to use smart technologies (33%) and advanced data analysis and visualization (30%).
SEND YOUR COMMENT