Thursday, June 1, 2023

CIOs Significantly Investing More Time on Innovation than they did before: Logicalis Survey

By Vishal Muktewar - February 08, 2022 3 Mins Read

CIOs Significantly Investing More Time on Innovation than they did-01

Today, technology-driven innovation is enabling organizations to take on risky initiatives while simultaneously expanding their footprint. This has driven CIOs to increasingly focus their efforts on innovation to shape the direction of digital transformation.

The past couple of years have been an uphill battle for organizations across the globe. With the sudden shift to a remote work environment, organizations have no choice but to find ways to keep their operations sustainable. While many organizations struggled initially with this setup, they have now embraced it. This and other such initiatives have forced IT and business leaders to rethink their organizational strategy.

For CIOs, this has opened doors for various opportunities. Today, more CIOs are spending a significant amount of time on innovation. In fact, Logcialis’s “Global CIO Survey 2021” found that three-quarters of respondents have increased their innovation efforts. The study that asked questions to over 1,000 CIOs around the globe found that even though there is a strong focus on innovation, only 27% of respondents describe innovation as part of the culture of the organization.

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Logicalis research further revealed that 21% of CIOs admit that only a few areas and departments in their organization are given priority for innovation. Furthermore, 34% of CIO respondents also stated that innovation comprises large-scale projects that are primarily driven by dedicated teams. The results from the findings suggested that there is a scarcity of innovation embedded in the organization culture as well as the willingness of organizations to evolve and adapt to modern technologies.

Today many organizations are hesitant to expand innovation across business and encourage new ideas, which are impacting the ability of the businesses to keep pace with broader markets and competitors. To tackle this, organizations should emphasize a culture of innovation or risk of not supporting changing customer demands as well as losing valuable employees such from the XYZ gen category that prioritize and demand digitally-focused working methods that complement their expectations for user experience.

Over 80% of the CIOs of the survey believe their organization is not keeping up with their competitors due to the pace of changing processes. Many CIOs said that they find it difficult to keep up with increasing efficiencies (38%), enhancing services (36%) and streamlining workflows (37%).

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It is difficult to foster and expand a culture when the workforce is disseminated than scaling to the staff operating from a centralized location. A robust, digital communication solution allows a hybrid workforce to connect remotely to build an innovative culture. An updated approach to organization-wide collaboration and innovation will empower organizations to improve productivity while simultaneously gaining a competitive advantage over their competitors. However, it does not mean that they go ‘all-in’.

CIOs can begin with optimizing operational processes such as empowering employees that will help them to build their workflows or automate manual processes. To truly reap the benefits of innovation, CIOs should embed it within the organizational culture where employees can surface as well as test new ideas frequently as well as provide the time and resources for them to do so. This will enable employees to build disruptive ideas and solutions that will, in turn, will, make them feel satisfied within their roles, thereby decreasing employee turnover.

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Vishal Muktewar

Vishal Muktewar is a Senior Correspondent at On Dot Media. He reports news that focuses on the latest trends and innovations happening in the B2B industry. An IT engineer by profession, Vishal has worked at Insights Success before joining Ondot. His love for stories has driven him to take up a career in enterprise journalism. He effectively uses his knowledge of technology and flair for writing, for crafting features, articles and interactions for technology enterprise media platforms.

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