Study Reveals British Business Leaders Lack Confidence in Digital Transformation
Cornerstone OnDemand sponsored study finds British business and HR leaders are the least confident in their digital strategies compared to other countries in Europe
LONDON – 20th June 2017 – Most businesses look to adopt digital business models and deploy new technology, but few British businesses feel like they are best-in-class. A new study conducted by IDC and sponsored by Cornerstone OnDemand (NASDAQ: CSOD), a leader in cloud-based learning and human capital management software, found that the UK’s business leaders don’t deem themselves ‘top performers’ in digital transformation, compared to confident regions such as The Netherlands, Sweden and Germany.
When HR and line-of-business managers were asked how their organisation compares to peers in its ability to leverage digital technology to drive changes in business models, only 23 percent of British business leaders felt they exceeded their peers or were best-in-class. Swedish respondents were the most confident with 39 percent, followed by the Dutch respondents with 30 percent and German respondents with 27 percent.
The study entitled Future Business: Unleashing Your Talent examines talent’s role in digital transformation through the perceptions and expectations of HR leaders and business managers across 14 European countries.
The shift to digital business models often requires changes to core organisational processes, and the biggest barrier to those changes is people – not technology or financial constraints. Aside from legacy IT systems, the biggest hurdles to digital transformation in the UK are centred around the company’s workforce.
HR professionals have a key role to play in executing digital transformation strategies. A large majority (84 percent) of European organisations interviewed are digitally transforming or planning to digitally transform their business. Line-of-business managers understand the importance of HR’s role in transformation, with 80 percent believing that HR is important for digital success.
The study, which follows 2016’s Future People: Workplace Evolution in the Age of Digital Transformation, revisits some of those key themes and findings, but with focus on the new hurdles that organisations face as they seek to fulfil digital ambitions. In this year’s study, IDC interviewed 1,469 HR professionals and business managers across 14 European countries working in organisations with more than 500 employees.
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“Every business is at a different stage of digital transformation and it’s both exciting and daunting in the same measure,” said Vincent Belliveau, Executive Vice President and General Manager of Europe, Middle East and Africa (EMEA), Cornerstone OnDemand. “HR has a fundamental role in digital transformation – especially given the numerous barriers, largely involving the workforce. HR’s shift to a strategic role in the business means focusing on engaging the workforce for digital success – and in turn boosting the confidence of British businesses.”
“Digital transformation has become a top priority for organisations in the UK”, added Bo Lykkegaard, Associate Vice President, IDC Software and European Enterprise Applications. “Successful transformation requires changes in the way employees are managed, motivated and their skills developed. It also requires significant efforts in internal communication and change management. A clear majority of line managers recognise HR as playing a vital role in achieving successful digital transformation.”
Cornerstone will host a series of local events across Europe this summer to reveal the full results of this study with IDC. To register interest, please visit: https://www.cornerstoneondemand.co.uk/hrmakeit-tour
Cornerstone is a premier people development company. We believe people can achieve anything when they have the right development and growth opportunities. We offer organizations the technology, content, expertise and specialized focus to help them realize the potential of their people. Featuring comprehensive recruiting, personalized learning, modern training content, development-driven performance management and holistic employee data management and insights, Cornerstone’s people development solutions are used by more than 6,000 customers of all sizes, spanning more than 75 million users across over 180 countries and nearly 50 languages. Learn more at www.cornerstoneondemand.com.