Skill shortages, even in a pandemic – for the first time in this survey’s history, cyber-security expertise has become the most in-demand skill set (42 percent), especially in the cloud and data security space.
Technology investments – almost half (42 percent) of IT leaders say the pandemic has permanently accelerated digital transformation and the adoption of emergent technologies (AI, machine learning, blockchain and automation). Security and privacy, and customer experience and engagement, are the top investment areas during COVID-19 followed by infrastructure and the cloud.
Diverse teams promote better business performance – over half (52 percent) of respondents feel that being diverse has improved trust and collaboration in the technology team.
Increased cyber-security threats – four in 10 IT leaders report that their company has experienced more incidents mainly from phishing and malware attacks.
A massive surge in remote working – 85 percent of respondents have moved their workforce to remote working, and 53 percent of technology leaders expect half or more of their staff to remain working predominantly from home.
Mental health is an issue – eight in 10 IT leaders reported they are concerned about their team’s mental health, and encouragingly, 78 percent have programs put in place to support mental well-being.
Technology leaders feel more influential – over six in 10 respondents feel that the pandemic has permanently increased the influence of the technology leader. Australia bucked a downward trend globally for board memberships, rising from 58 percent in 2018 to 60 percent of CIOs, IT Directors and CDOs on the main board in 2020.
CIO Survey Executive Summary – 8 things you need to know
An investment surge and budget headaches
Global IT leaders reported a median additional spend of 5% of IT budget to deal with the Covid-19 crisis. This represents around US$15bn per week during the first three months of the crisis, as
organisations pivoted their customer strategies, invested in security, and moved a significant part of their workforce to remote working. The unexpected and unplanned-for spend in both capital (CapEx) and operating expenditure (OpEx) has left many organisations with a headache. CIOs and CFOs are shining a bright light on existing spend, keen to prove return on investment or to make savings.
A new deal for employees
With 43 per cent of technology leaders expecting more than half their staff to remain working predominantly from home, organisations are beginning to realise how different a world without location is. In recruitment, their potential talent pool is worldwide. Ensuring that people are engaged, rewarded and productive in a world where physical presence plays less of a role will be a key factor. Mental health is an issue; 84 per cent of technology leaders report they are concerned about their team. Encouragingly, our research shows that programmes are being put in place to manage this.
Each industry sector is following its own path
Unlike previous recessions, where largely sectors ‘rose or fell’ with the tide, sector has played a significant and divisive role in how organisations have fared during the crisis. Some organisations are faced with the challenge of finding a viable business model; for others, the challenge is to deal with a surge of demand. Power & Utilities,
Government, Healthcare and Technology are investing heavily; Leisure, Non-profit, Education and Manufacturing are reining back. Regardless, six in ten feel it will take at least three months before they can accurately forecast the future. Boards will need to get used to the discomfort of uncertainty.
More proof that business needs diversity
Participation of women in technology leadership remains stubbornly low, although some headway appears to be happening in Latin America which is benefiting from specific programmes designed to get women into the world of technology. Looking at diversity more widely, our research adds further proof that diverse teams promote better business