Yet, in the blur of this year’s pandemic-induced reactions, those anxieties proved largely unfounded.Įxecutives have become more trusting of what technology can do, and they are pushing ahead with digital transformation. Before the pandemic, many organizations seemingly distrusted their own technological capabilities and doubted the skills of their own workforces. This culture shift is in part defensive: reducing costs is the top benefit attributed to transformation initiatives.īut something bigger and more long-lasting than crisis management is underway. The COVID-19 pandemic has accelerated digital transformation at 59 percent of organizations we surveyed, and 66 percent say they have been able to complete initiatives that previously encountered resistance. Adaptability is now a mandatory business competency, and an accelerated pace of change has become normal. Together, they provide a playbook for proactive leaders who understand that old ways of working are gone.Įpiphany 1: Digital transformation was never just about the technologyĪnecdotal tales of “game-time” pivots-moving swarms of workers to remote platforms, rethinking and remaking supply chains, shifting manufacturing to produce in-demand personal protective equipment-aren’t just near-term business contortions. Our research suggests five key epiphanies from leading executives for the post-pandemic business landscape, offering new perspectives on digital transformation, the future of work, transparency, and sustainability. The COVID-19 pandemic has accelerated digital transformation at 59% of surveyed organizations. Motivation is not aspirational-it has become existential. There seems to be renewed clarity in their perspectives. Old barriers are being brushed aside under the pressure of unrelenting disruption, rapidly evolving customer expectations, and an unprecedented pace of change.

Whether reflecting on current conditions or future plans, business leaders’ needs for speed and flexibility have been amplified dramatically. Our overwhelming conclusion: Post-COVID-19, the reality for businesses has radically shifted. This special IBV Trending Insights report integrates results from multiple proprietary surveys of consumers and executives conducted from April through August 2020, punctuated by new data from executives across industries who collectively oversee USD 3.7 trillion in revenue. But strikingly, greater focus on transformation seems to be at the expense of customer relationships and partnering opportunities.Įxecutives identify competitiveness and workforce resilience as the benefits they most want from ongoing digital transformation. Transformation is also accelerating among a majority of organizations. They identify competitiveness and workforce resilience as the benefits they most want from ongoing digital transformation.

Leaders are expecting more from their transformation initiatives. Executives are clearly telling us they plan to emphasize workforce safety and security, cost management, and enterprise agility.Įxecutives' top priorities are shifting dramatically as they plan for an uncertain future. In the next two years, our findings show that we should expect another huge shift in prioritization. New research from the IBM Institute for Business Value shows that executives are now prioritizing all these capabilities. Today, however, top executives tell a different tale. Two years ago, relatively few executives considered competencies in crisis management, enterprise agility, cost management, workforce resiliency, innovation, or cash-flow management as critically important to their business. And as executives struggle to make sense of the post-COVID business environment, many find themselves leading from this gray area of indecision. When everything is a priority, nothing is a priority.

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