79% of Leaders Surveyed Agree that the Business does not speak Technology
and Technology does not speak Business
"In order to successfully execute digital transformation, business leaders and IT must be aligned; however, our research shows that, for many, this isn't the case," said
To understand where business leaders stand with digital transformation across industries worldwide, the study surveyed more than 900 senior executives from technology, digital, data, product, human resources, talent attraction and learning and development roles.
Key findings include:
- Thirty-seven percent technology executives and 10% of business executives are educated on critical digital transformation topics, including AI, machine learning and cloud migration. To drive successful digital transformation, senior leaders must understand the totality of the business, inclusive of technology, and develop technical and professional capabilities to lead their companies forward.
- Seventy-nine percent of leaders surveyed agreed that the business does not speak technology and technology does not speak business. The survey revealed only four in 10 organizations had mandatory training on critical topics underlying digital transformation and business success.
- More than half of business owners and C-suite executives perceive IT as merely a general support function and not a business driver. The disconnect between technology and business goals can result in missed opportunities for innovation and growth and wasted resources, as well as difficulty in retaining skilled talent.
To help organizations bridge the gap between technology and business, EPAM Continuum's report offers detailed suggestions and resources for improving ongoing digital transformation, including:
- Clarifying the role of technology in the business. This involves developing a shared vision and strategic plan to outline how technology is powering business strategy.
- Creating mandatory digital and business literacy programs. For senior leaders, courses should be specific to their needs and discuss how to help employees develop new mindsets, behaviors and ways of working.
- Connecting learning to implementation. Establish common goals and shared accountability for digital transformation by planning for each area of the organization and aligning operations.
"There is not a one-size-fits-all solution for successful digital transformation since each organization has its own unique culture and goals," Loughlin said. "Leaders must be well prepared to navigate digital transformation complexities by acquiring necessary skills, staying informed about industry trends and learning from successful companies."
To read the full report, visit: https://www.epam.com/leadership-report.
To learn how EPAM's talent enablement and transformation services can help organizations digitally transform and support employee learning and development, visit www.epam.com/services/strategy/talent-enablement.
ABOUT EPAM CONTINUUM
EPAM Continuum is the integrated strategy, experience and technology consulting network within EPAM, and the main service brand under which all EPAM consulting and creative services go to market. We fuse integrated consulting with EPAM's engineering expertise to accelerate the pace at which our clients derive market benefit from new innovations and digital transformation investments.
We're a globally integrated hybrid team of strategists, advisors, designers, technologists, data scientists and creatives. Using applied systems thinking, we identify how to create value within our clients' increasingly complex business challenges. We believe the right solutions are the ones that improve people's lives and fuel competitive advantage. We don't just create blueprints, operating models and business plans; our thinking comes to life in code and products – and in market. Learn more at www.epam.com/epam-continuum and follow us on LinkedIn.
Selected by Newsweek as a 2021 and 2022 Most Loved Workplace, EPAM's global multi-disciplinary teams serve customers in more than 50 countries across six continents. As a recognized leader, EPAM is listed among the top 15 companies in Information Technology Services on the Fortune 1000 and ranked four times as the top IT services company on Fortune's 100 Fastest Growing Companies list. EPAM is also listed among Ad Age's top 25 World's Largest Agency Companies for three consecutive years, and
Learn more at www.epam.com and follow EPAM on Twitter and LinkedIn.
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