IT budget woes linger as 92% of organisations stuck in survival mode
Fifty-seven per cent of IT leaders globally have seen budget cuts in the past 12 months, with 35% experiencing budget cuts of 10% or more. This is according to a survey of 1000 CIOs and IT leaders in 10 countries for a study titled The Changing Role of the IT Leader.
The study, conducted by Forrester Consulting on behalf of Elastic, also found that 92% of organisations worldwide are in survival or maintenance mode. In Asia–Pacific, Australia (78%) has the highest number of enterprises in maintenance mode, while China (21%) and Japan (16%) are leading with the highest number of enterprises in growth mode. That’s not all. 60% of IT leaders do not yet have the right tools, policies and procedures to support a remote workforce.
It’s not all doom and gloom though, as 60% of IT organisations are investing in improving employee experience to support remote workforce productivity and performance.
Since the start of the COVID-19 pandemic, the shift to remote and hybrid working models has become a permanent fixture for many global organisations. “One year into the COVID-19 global pandemic, the data shows it’s time for IT leaders to put employee experience at the heart of every technology decision they make,” said Kim Huffman, VP, IT, Elastic.
“They must quickly and dramatically evolve and accelerate their programs as they work to support their employees and adapt to the next normal and a completely different way of working.”
Nearly 60% of IT leaders believe that enabling employees to work flexibly will improve the adaptiveness of their organisations and they are investing in technology to improve employee experience and productivity.
The study illustrates that an adaptive business model with employee experience at its core is the key to building business resilience, creating a sustainable competitive advantage, and scaling effectively in times of disruption.
Globally, the partnership between IT and HR is growing stronger, with 57% of IT leaders collaborating more closely with their HR counterparts since the start of the pandemic.
While many IT leaders worldwide have pivoted to an employee-centric approach in their technology decisions, they still face barriers to establish an environment where IT fosters engagement and productivity.
“A deep partnership between HR and IT leaders is crucial when it comes to enhancing employee experience, and that partnership has never been more important than it was over the past year,” said Leah Sutton, SVP, Global Human Resources, Elastic.
“The combined insight and expertise that both leaders bring ensure that employees aren’t bouncing around from IT, to HR, to finance, and more. Rather, employees have a holistic corporate experience that ensures they are supported, informed and empowered with access to the tools and resources they need to successfully do their jobs.”
The federal government has announced plans to invest nearly $1.2 billion to augment...
Oracle NetSuite has unveiled new automation capabilities to enhance financial, inventory and...
Talent shortage in emerging technology poses a serious threat to the growth and competitiveness...