KNOLSKAPE unveils the industry-wide report on digital readiness
The report by KNOLSKAPE assesses the digital readiness of organizations from the perspective of strategy, capabilities, and culture.
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The digital readiness research from KNOLSKAPE gauges digital preparedness of organizations in India. The study was conducted by way of structured interviews with thirty talent transformation leaders in India including Chief Human Resource Officers (CHROs), talent management heads, Heads of learning, Leadership & Development professionals and thought leaders. The research assesses Digital strategy, Digital capabilities and Digital culture for 15 industry verticals.
· 85% of leaders surveyed believe their mission/ vision/ strategy is aligned with the digital world.66% of the respondents agreed that HR in their respective organizations have goals mapped to measure the success of digital strategy.
· HR professionals in the study recognized that with customer experience getting a leg up with digitalization, employee experience cannot fall too far behind. 77% organizations have cross-functional teams accountable for crafting employee experience or employee journeys.
· There is a gap between digital intent and execution. Only 40% of organizations agree to having all the necessary digital infrastructure (apps, tools etc) that will enable fulfillment of their organization’s mission and vision.
· Digital learning and leadership can hypercharge capability building. 60% Of the respondents believe that their leaders adopt a more collaborative leadership style over a command-and-control style.
· Risk-taking at the top doesn’t percolate down below. Digital native start-ups are more likely to encourage a ‘fail-fast learn-fast’ culture.
Abstract from the report:
In sync with the business agenda for the digital age, the research aligns the responses to the following key assets of digital transformation-
· Digital Strategy
· Digital Capabilities
· Digital Culture
Digital adoption is unique for each industry type
When it comes to digital adoption, there isn’t a one-size-fits-all approach for all industries. While defining their downstream strategy, organizations may take the marketing, services, or product route as the seat for digital strategy. Some examples include: FMCG firms are carving out their digital strategies to empower marketing and branding teams. Banks and NBFCs are carving out digital-first product strategies to cater to the demanding needs for the digital savvy millennial consumer.
Mapping HR goals with an organization’s digital strategy-
· 66% Of respondents agree that HR in their organization has clear and quantifiable goals for measuring the success of a digital strategy.
· 60% of the respondents routinely hire digital-savvy talent for critical functions within the organization.
While Digitization adheres to converting something from the physical domain into its digital equivalent in the virtual world; Digitalization in HR involves leveraging technology to create exceptional candidate experience, embrace data agility to unlock new value.77% of the surveyed organizations have teams accountable for crafting employee journeys.
About the Research
The in-house research was commissioned by KNOLSKAPE’s Centre of Expertise (CoE) from May- June 2018. For the in-depth study, team KNOLSKAPE interviewed thirty talent transformation leaders in India – CHROs, talent management heads, Heads of Learning, Leadership Development professionals hailing from 15 key industry verticals.
Sample metrics for the research-
o The largest organization in the research sample has approx. 200,000 employees whereas the smallest has about 300.
o The average age of the surveyed organizations is 27 years.
o 63% of organizations in the sample are publicly traded entities whereas the rest are privately held.
The full report can be accessed at https://www.knolskape.com/digital-readiness-survey/