Access the full report here
“To successfully implement digital transformation, business leaders and IT need to be aligned; however, our research shows that for many this is not the case,” said Sandra Loughlin, Ph.D., Chief Learning Scientist and Head of Client Learning and Talent Enablement at EPAM. “True transformation starts at the top with executives and senior leaders who are wholeheartedly committed to investing in new capabilities, aligning resources and collaborating in new ways to achieve shared goals and foster a culture of unity.”
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 roles and learning and development.
Key findings include:
- Thirty-seven percent of technology executives and 10% of business leaders are trained 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, including technology, and develop technical and professional capabilities to drive their businesses forward.
- Twenty-nine percent of the leaders surveyed agreed that business does not speak technology and technology does not speak business. The survey revealed that 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 see IT as just 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 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:
- Explaining the role of technology in business. This includes developing a shared vision and strategic plan to outline how technology drives business strategy.
- Creating mandatory programs for digital and business literacy. For senior leaders, courses should be specific to their needs and discuss how to help employees develop new mindsets, behaviors and ways of working.
- Connect 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 no one-size-fits-all solution to successful digital transformation, as each organization has its own unique culture and goals,” said Loughlin. “Leaders must be well prepared to navigate the complexities of digital transformation by acquiring necessary skills, staying abreast of industry trends and learning from successful companies.”
To read the full report, visit: https://www.epam.com/leadership-report.
Visit www.epam.com/services/strategy/talent-enablement to learn how EPAM’s talent enablement and transformation services can help organizations digitally transform and support employee learning and development.
ABOUT EPAM CONTINUUM
EPAM Continuum is the integrated strategy, experience and technology consulting network within EPAM, and the main service market under which all EPAM consulting and creative services go to market. We merge integrated consulting with EPAM’s technical expertise to accelerate the pace at which our clients benefit from new innovations and investments in digital transformation.
We are a globally integrated hybrid team of strategists, consultants, 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 that the right solutions are those that improve people’s lives and drive competitive advantage. We don’t just create blueprints, operating models and business plans; our thinking comes to life in code and products – and in brand. Learn more www.epam.com/epam-continuum and follow us LinkedIn.
ABOUT EPAM SYSTEMS
Since 1993, EPAM Systems, Inc. Through its innovative strategy; integrated advisory, consulting and design capabilities; and unique ‘Engineering DNA’, EPAM’s globally deployed hybrid teams help make the future real for clients and communities around the world by enabling better enterprise, education and health platforms that connect people, optimize experiences and improve people’s lives. In 2021, EPAM was added to the S&P 500 and included in the list of Forbes Global 2000 companies.
Selected by Newsweek as a Most Loved Workplace in 2021 and 2022, EPAM’s global multidisciplinary teams serve clients in more than 50 countries across six continents. As a recognized leader, EPAM has been named 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 has also been listed among the top 25 of the world’s largest agency companies for three consecutive years, and Consulting Magazine named EPAM Continuum a top 20 fastest growing company.
Learn more www.epam.com and follow up EPAM Twitter and LinkedIn.
Forward-looking statements
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SOURCE EPAM Systems, Inc.
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