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What does $4 Trillion In Tech Spending Get You? Not Much, Without Proper Training

Maybe it’s because we’re massive fans of all things educational at AVADO, but, all the same, we love a good statistic. Especially in the context of our latest White Paper, there’s a reason we keep citing two stats in particular: corporate tech spending is expected to approach $4 trillion this year, yet digital transformations fail at a rate of 84 percent.

How could so much top-flight technology miss the mark when companies reorganize and retool? The missing link is proper training, which often takes a back seat to tech spending. It’s a fact reinforced by AVADO’s recent survey of more than 2,200 American employees, including 350 C-suite leaders and 350 Human Resources managers — roles that often clash when it comes to prioritization preferences.

Want proof? Look no further than these bar graphs.

On the left, you’ll see that unsurprisingly, HR leaders prioritized training over every other survey option: more than hiring, restructuring and tech.

In stark contrast, the bar graphs on the right show that only about 1 in 4 surveyed C-suite leaders prioritized training programs, but almost half of these same executives prioritized investing in tech. Senior leaders seem to believe that tech spending can be the silver bullet that future-proofs their businesses.

The philosophical divide between C-Suite and HR only deepens with this stat: Only one-third of surveyed HR advisers strongly agreed that their leaders provided adequate company-wide training for new skills.

There’s a lot to unpack here, and it’s not just a lack of agreement — or perhaps even a breakdown in fundamental communication — between these two groups. If leaders can’t agree how a company should proceed in an age of constant change, growth is restricted. Employees stagnate. And the competition inherently gains an advantage.

In fairness to the C-suite executives surveyed, we’re not going to pretend we’re not immune to the charms, bells and whistles of a shiny new smartphone or other forms of new technology. But if we didn’t know how to use it, what’s the point of it?

And then there’s the one stat from our survey to rule them all:

Employees who want more training are trying to tell their bosses something: They’re not able to deliver the best possible results, no matter how much new tech there is at their disposal. And when 3 in 4 employees are trying to tell their bosses about a fundamental need, it’s crucial not only to listen, but also to act.

Without re-skilling employees to use new technology, tech investments are likely to fail. And, to revisit that favorite two-pronged stat, that means most of that $4 trillion spent on tech upgrades won’t be worth much on its own.

The solution is simple, but its implementation is critical: Leaders need to spend more time and money on people, not just technology. Thankfully, AVADO has more than 20 years’ worth of transformation experience, enhancing digital confidence through training that drives measurable success on a global scale.

Looking to learn a little more on the importance of corporate training and digital transformation upskilling for your organization? Give us a call at (646) 880.9613 or emails us at hello@avadolearning.com.

Niall McKinney

Niall McKinney

Posted July 2, 2019