IT Decision Makers Facing Significant Challenges Amid Rising Recession Concerns
Randstad announced a new study that shows many organizations are facing serious challenges as they try to navigate the current tumultuous economic environment. Despite the recent rise in digitization and technology adoption, Randstad found that one-third of IT leaders are less confident in their ability to deliver on key initiatives. Respondents cited technology issues such as poor system performance, outdated and lack of technology as barriers to their success.
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Randstad surveyed over 750 IT decision-makers in both the United States and Canada to learn more about their priorities as many companies look to modernize their technology and focus on critical investments. An overwhelming majority, 90 percent of respondents, believe that technology is vital to their company heading in the right direction. Yet nearly half (44 percent) of IT leaders believe technology is only adequately or even underfunded at their organization.
The study also found that while Canadian leaders had more confidence in their results than those in the US, there was more concern about the impact of talent shortages on their businesses. Twenty-one percent of Canadian IT decision-makers believed the shortages were extremely impactful on business goals versus 7 percent of US IT decision-makers.
Other key findings include the following:
- Top concerns for IT leaders include cyber vulnerabilities, supply chain disruption, inflation and other economic factors.
- Companies are still falling behind in using data for business decisions as over 60 percent do not rely strongly on their internal data and analytics.
- Skill shortages are costly for businesses as CIOs cite a lack of skills as the biggest hindrance to digital transformation. These shortages have also been the cause of over 42 percent of organizations seeking external help.
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“We believe that this research helps pinpoint what’s top of mind for IT leaders as they look to deliver on goals in organizations that are increasingly overwhelmed by complexity. To do this, leaders must recognize the need for talent-driven digital solutions in an environment where technology is no longer just a supporting function in an organization; it’s now driving businesses and economies,” said Graig Paglieri, CEO, Randstad Technologies, North America.
“Digital transformation is set to remain at the heart of businesses during the next few decades, and urgent issues like talent scarcity and skills shortages have to be addressed. Technology on its own can’t innovate. Without the right talent, sustained digital transformation is not going to happen, leaving organizations unable to remain competitive in their industries,” continued Paglieri.
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