A new IBM study of global C-suite executives revealed that nearly six in ten responding organizations have accelerated their digital transformations due to the COVID-19 pandemic.
Traditional and perceived barriers like technology immaturity and employee opposition to change have fallen away – in fact, 66% of executives surveyed said they have completed initiatives that previously encountered resistance.
Participating businesses are seeing more clearly the critical role people play in driving their ongoing transformation. Leaders surveyed called out organizational complexity, inadequate skills and employee burnout as the biggest hurdles to overcome — both today and in the next two years.
The study finds a significant disconnect in how effective leaders and employees believe companies have been in addressing these gaps.
74% of executives surveyed believe they have been helping their employees learn the skills needed to work in a new way, just 38% of employees surveyed agree. 80% of executives surveyed say that they are supporting the physical and emotional health of their workforce, while just 46% of employees surveyed feel that support.
The study “COVID-19 and the Future of Business,” which includes input from more than 3,800 C-suite executives in 20 countries and 22 industries, shows that executives surveyed are facing a proliferation of initiatives due to the pandemic and having difficulty focusing, but do plan to prioritize internal and operational capabilities such as workforce skills and flexibility – critical areas to address in order to jumpstart progress.