Seeing an acceleration in digital transformation, says IBM Services

Summary

In this CNBC International Live discussion, IBM Services highlights the significant acceleration in digital transformation driven by the COVID-19 pandemic. Organizations are rethinking and leveraging technology in new ways, overcoming traditional barriers as both executives and employees adapt to remote work. Despite differing perceptions, with 74% of executives believing they are assisting employees versus just 38% of employees agreeing, the push for technological adoption has created a new baseline for the future of work.

Highlights

• Organizations have accelerated digital transformation due to COVID-19 🌟.
• 66% of employees completed initiatives previously met with resistance 🚀.
• New channels to connect with customers and internal digital adoption emerged 🔗.
• Executives and employees have differing views on skill-building efforts 🤔.
• A new baseline for technology use in organizations has been set 📈.

Key Takeaways

• COVID-19 spurred a rapid increase in digital transformation across organizations 🌐.
• Companies had to rethink technology usage and overcome traditional barriers 🎯.
• Employees adapted quickly to new technologies despite initial resistance 💻.
• A disconnect exists between executives' and employees' views on digital skills support 🔄.
• New working models and policies emerged, establishing a digital baseline 🏢.

Overview

Digital transformation has seen a boost thanks to the unforeseen circumstances brought by the pandemic. Companies worldwide have had to up their tech game, pushing past old barriers and encouraging even tech-averse employees to embrace new tools. This massive shift required a rethinking of how businesses engage with both customers and their workforce.

Many employees, once resistant to change, found themselves not only adapting but thriving with new digital tools. Critical initiatives once bogged down by hesitation are now being propelled forward, ushering in a new era where old norms are being rewritten. The need for new connections and efficient digital workflows has never been more critical.

Despite this progress, a gap remains between what executives perceive as supportive actions for skill development and what employees experience. While many leaders believe they’re aiding their teams in this digital leap, fewer employees agree. This discord highlights the ongoing challenge of ensuring technology adoption is felt positively across all levels of an organization.

Chapters

• 00:00 - 00:30: Introduction The chapter 'Introduction' discusses the acceleration of digital transformation prompted by the COVID-19 situation. It emphasizes how organizations have been compelled to rethink their use of existing technology and identify areas for future focus. The transcript highlights overcoming traditional barriers, with employees who were previously uncomfortable with technology now having to learn and adapt to new technological tools.
• 00:30 - 01:00: Overcoming Barriers to Digital Transformation In the chapter titled 'Overcoming Barriers to Digital Transformation', the discussion revolves around the challenges companies face in implementing digital strategies. Despite initial resistance, 66% of companies managed to complete initiatives that previously encountered obstacles. The chapter explores the barriers which primarily include resistance to replacing existing industry models and potential revenue disruptions. A significant factor driving the shift towards digital transformation was necessity. Companies were compelled to adopt new strategies to engage with customers and continue operations effectively amid evolving market demands.
• 01:00 - 01:30: New Working Models and Employee Adaptation The chapter titled 'New Working Models and Employee Adaptation' discusses how businesses have had to innovate their customer interaction methods and develop new channels. Concurrently, employees were required to rapidly adjust to remote work setups, necessitating changes in company policies. Initially resistant to new tools, employees found themselves adopting and ultimately appreciating these technologies as part of their work processes. The survey findings indicate that employees have positively adjusted to these forced changes, enjoying these new tools and work models.
• 01:30 - 02:00: Executive vs Employee Perspectives The chapter highlights a disconnect between executive and employee perspectives on the role of technology in organizations. Executives largely believe (74%) they are assisting employees in acquiring new skills to adapt to technological advancements, while only 38% of employees feel they are receiving such support. This disparity underscores differing interpretations of the support and training provided.
• 02:00 - 02:30: Employee Expectations The chapter titled 'Employee Expectations' focuses on the disparity between employer efforts and employee satisfaction. Employers have been prioritizing the health of their employees, innovating communication strategies, and enhancing essential skills for the evolving work environment. However, despite these efforts, the impact perceived by employees seems minimal, as they anticipate much more from their employers.

Seeing an acceleration in digital transformation, says IBM Services Transcription

• 00:00 - 00:30 it's clear from the study that there's been an acceleration in digital transformation uh the the covid situation has clearly compelled organizations to really rethink how they leverage the technology tools they already have but also how they think about you know where they need to really focus going forward so we've definitely seen an acceleration uh we've also seen as you say overcoming some traditional barriers of employees that may not have been comfortable using technology really finding that they've you know had to learn to use the technology
• 00:30 - 01:00 to really uh engage with customers and do their work i thought that was fascinating 66 of them said they'd been unable to uh complete initiatives that pr that had been able to complete initiatives that previously that encountered resistance with what were those barriers was it about replacing existing industry and disrupting those existing revenues that they went upon a different strategy with an online digital strategy i think clearly that necessity was certainly a big driver here both in terms of the fact they had to find new
• 01:00 - 01:30 ways uh to connect with customers and open up new channels they've also had to find new ways though frankly for employees to do their work which means that employees who are all employed to immediately compelled to work from home had to establish new working models policies had to be changed and and that pushed through a lot of the you know the previous resistance to maybe using tools because people just simply had to use them and as they've as they've used them the finding from the survey was that they've liked them and that actually
• 01:30 - 02:00 this is actually setting therefore if you like a new base a new normal for how technology plays its part in many organizations i thought it was amusing that there was a disconnect too and the way executives saw this process versus employees you had 74 of executives believing they'd been helping their employees learn the skills needed to work in new ways just 38 of employees agreed so slightly different interpretations just give us a sense of what employers executives thought they were doing and where employers thought maybe
• 02:00 - 02:30 they were being let down a little bit well i think at the end of the day first of all all employers have been have been focusing on clearly you know the health of their employees uh they've been working on new uh communication strategies uh and they've been uh focusing on that and building up the skill sets they think are going to be important for their employees in this new world i would say that the findings from the employee side were all those activities were clearly having you know less of an impact and they were looking for much
• 02:30 - 03:00 more i think the truth of the matter is that expectations from employees this came through very strongly from the study have risen around what they're expecting from their employer with regard to care for the broader the broader uh work-life balance uh their health and and obviously of course the investments being made and the tools they need to do their work
• 03:00 - 03:30 you