Optimize Your Organization: How Technology, People, and Policies Can Help You Be Successful in 2023
All types of businesses continue to rely on technology for their success. CompTIA’s seven-country study revealed that the top business priorities of executives are improving operational efficiency, employee skills, and innovation. All types of businesses need technology to succeed. Technology is optimized when people, policies, and processes align with business goals. This is a trend we continue to observe. This is true for all types of organizations.
Nearly three quarters of executives and other qualified professionals participating in CompTIA’s international Business Technology Adoption and Skills Trends surveys report that technology plays a major role in achieving their business goals. Most of the rest would rate technology as a secondary or non-factor.
As you might expect, the more large a company is, the more reliant it is on technology to achieve business goals. Technology sector firms, as well those in finance, banking, and insurance, tend to indicate that technology is a major factor at significantly higher rates than those in other sectors, such as education or government.
It’s fascinating to see how the outside world has impacted the way that many academic institutions have used technology over the past two-plus decades. It is interesting to see how tech-savvy companies may be able to focus more on strategic initiatives rather than the other key pieces, i.e. people, policies, and processes.
Technology still key in finding new customers, markets, and employees
CompTIA’s seven-country study found that the top business priorities of executives across seven countries were to improve operational efficiency, increase employee skills, and invent new ways of doing business. Although technology may be more directly linked to some initiatives, such as implementing new systems that improve efficiency, it still plays an important role with other initiatives, such as identifying new markets and customers, hiring or developing skill, etc.
Global success is also dependent on the ability of tech service firms. When they have other core competencies, organizations may turn to outside experts for technology solutions. CompTIA’s international survey found that nearly 6 out 10 organizations use outsourced tech firms frequently or on a frequent basis (57%), and 3 in 10 only occasionally (29%).
Tech consulting, cloud-related, cybersecurity, software, web, or app development, and troubleshooting or repair or maintenance related are the top types of tech services that are outsourced. It is interesting that firms that outsource more often report higher ROI on their tech investments. However, regardless of whether you are outsourcing, the top reasons for a disappointing or below-average ROI from tech investments include ongoing maintenance costs, staff time requirements; upfront cost; complexity/poor users experience; and upgrades.
There is still a demand for tech talent
Employers are putting more effort into acquiring the skills and workforce they need. This includes both developing existing talent and hiring new employees. Tech workers are particularly open to learning and developing their skills. The tech talent pool needs to be strengthened. The current supply is not meeting demand. CompTIA’s Project Agora initiative, which aims to convert more people with career intent to tech intent, was recently announced by the organization.
Employers around the world need to innovate, but only in the way that works for them. First, think about where they want to go and then consider how to get there. Some will partner with a tech service firm. Others may be able to make use of new technologies such as virtual reality, robotic process automation, and other career development resources, such as training that aligns with career goals, cross-functional training, and accessing a wider pool of candidates (e.g. focusing more on skills and performance than degrees, or implementing an apprenticeship program). Employers must be flexible as the workforce needs and organizational priorities change.
CompTIA’s Business Technology Adoption and Skills Trends was created to share and collect information about technology adoption and workforce trends in several countries, including Australia, Germany and the United States. A total of 1,053 qualified technion