A recent survey* has shown that investment from large companies has been increasing this year, but there are concerns over technology skill shortages. The survey reports the views of over 3200 Chief Information Officers and technology leaders and is one of the largest and most comprehensive in the world.
The global economy is recovering after its recent drop. This means that more and more companies are investing back into digital, mobile and online technology. However 60% of businesses globally believe that a lack of technology skill in talent is holding them back from investing more.
The report claims that technology budgets are growing globally as Chief Executives favour growth over cost reductions and efficiency. 46% of CIO’s and technology leaders saw an increase in the technology budget, up 42% from last year, and the highest level of growth since 2006.
63% of CEO’s favour projects that encourage growth (such as digital marketing), rather than projects that encourage cost-saving or increasing efficiency. However, in the Asia Pacific region, the main concern is still to save money and increase operational performance.
For the first time since the recession, technology skill shortages are becoming a cause for management concern. Retaining, developing and acquiring the skills to drive the growth program are now major priorities for leaders all over the world.
Dr Jonathan Mitchell, Chairman of Harvey Nash’s global CIO Practice said, “After six years of sluggish activity, this report clearly shows that 2014 is a watershed year. CIOs and Technology leaders are seeing growing budgets and growing prominence in their organisation as CEOs are turning to technology to drive growth.
“However, significant challenges lie ahead,” he continued, “This year has seen a worrying increase in the number of leaders citing concerns about skills shortages. To be successful, organisations will not only need a clear technology strategy, but they will also need the right people to deliver it.”
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