5% of Organizations Say They Had Implemented Workforce Transformation Required to Address Disruption Before the Pandemic, SilkRoad Technology and Human Capital Media Group Survey Reveals

CHICAGO–(BUSINESS WIRE)–#COVID19–SilkRoad Technology, a global software and services platform that helps organizations attract, retain and align people to its business, in partnership with Human Capital Media Research Group, the research arm of Workforce, today announced the findings of a survey it conducted of nearly 500 HR professionals from a wide variety of industries and locations around the globe. The research, entitled How Organizations Can Achieve Resilience Amidst Disruption, uncovered that before the COVID-19 pandemic, almost all organizations had not enacted workforce transformation strategies that would have addressed disruption. Further, 10% didn�t believe that they would face any disruption at all.

Today, every organization around the world is simultaneously seeking to adapt to a variety of disruptors, from market competition and new entrants, to AI and automation, to changes in the labor force and now, hopefully, a “once in a generation” pandemic. In the survey, respondents identified that workforce changes needed to happen but widely varied in their approach and progress in making the necessary changes to be able to endure disruption.

Other key takeaways from the report include:

• Over 60% of organizations believed disruption was coming from changes in technology or changes in competitive landscapes or marketplaces.
• 63% of organizations believe increased agility is a workforce change that is needed to meet operational challenges.
• Cultural resistance and lack of a clear strategy are the most prevalent roadblocks to workforce transformation.
• Before the pandemic, less than half (48%) of organizations felt HR was prepared to manage a workforce transformation.

“The common refrain we are hearing from enterprises is the urgent need for adopting digital operating models that help increase business speed and offset uncertainties or risks,” said Robert Dvorak, CEO, SilkRoad Technology. “The agility and resiliency provided by digital operating models can only be achieved with an intentional unification of people, process and technology. When these changes are seen simply as a technology investment, as many as 70% of digital transformations fail, according to McKinsey & Company research. Successful digital transformations always start with your people.”

“By aligning your people to business drivers and allowing them to reimagine value chains and redefine how work gets done, new organizational structures emerge with high speed and agility. Pre-COVID, ‘onboarding’ was largely defined as moving new hires into productive roles. Today, onboarding, performance management and learning capabilities are being reconfigured to help companies identify, develop and move existing employees to newly created, highly relevant roles for success in our new world. HR, along with IT, Information Security and Finance leaders, must work together to deliver the desired business outcomes from digital operating models.”

To download the full How Organizations Can Achieve Resilience Amidst Disruption report, please click here.

About SilkRoad Technology

Since 2003, SilkRoad Technology’s software and services platform helps our clients attract, retain and align people to their business. Our solutions start with Global Client Services to provide strategic HR and business expertise. SilkRoad then designs secure solutions tailored to your business requirements at scale for global companies. We deliver personalized experiences for employees to drive engagement across the employment lifecycle to enable measurable and improved business outcomes.

For more information, visit www.silkroadtechnology.com, follow on Twitter @SilkRoadTweets or call 866.329.3363 (U.S. toll free) or +1.312.574.3700.

Contacts

SilkRoad Technology Business Contact:
Karl Fruecht

SVP, Sales, Marketing and Business Development

847.732.3920

Karl.Fruecht@silkroad.com

SilkRoad Technology Media Contact:
Delilah Bennett

Account Manager, 3Points Communications

Delilah@3PTsComm.com