Here at UNLEASH, we often discuss the latest HR technology that’s designed to save organizations time and money.
However, implementing new functions can often be difficult. To find out the effectiveness of technology implementations, digital adoption solution provider, WalkMe spoke to 1,475 business leaders across the world as part of its ‘State of Digital Adoption’ study.
64% of respondents noted that employee experience technology is more important than office spaces when it comes to retaining talent. While 61% said that poor experiences with technology would likely add to the ‘Great Resignation’ that has seen millions leave the workforce.
With the importance of technology in mind, the study found some alarming statistics that show just how ineffective certain transformations are.
The study found that 67% of organizations are under “incredible pressure” to accelerate transformation programs. Despite this rush, 60% of respondents claimed that change programs were “no longer fit for purpose”.
In addition, 70% of respondents could not identify who is responsible for managing technology adoption in their business. This is a costly oversight as on average enterprises intended to spend $30 million addressing transformation ownership and the acceleration of programs in the next three years.
For organizations with more than 10,000 employees, a lack of tech uptake costs an average of $96 million.
WalkMe highlights that additional spending to meet goals that are missed costs large organizations $32.48 million. Additionally, not realizing the full value of a product is costing these businesses $16 million, and training is setting businesses back $21 million.
Evidently, organizations need to better manage their transformations to avoid hemorrhaging money.
Ofir Bloch, vice president of strategic positioning at WalkMe, discussed the findings of the study: “With enterprises planning to invest more than $30 million to increase the use of digital technologies over the next three years, the right approach will have a major impact.
“We can see that there’s the potential to save tens of millions in costs and to free up employees’ time so that they are happier and more productive.
Bloch added: “If enterprises can strategize effectively, coordinate with external partners, and most importantly, understand what and where they need to coordinate their efforts in order to increase adoption, they will be able to maximize the value of the $4.4 billion invested in IT every year.”
Want to hear more from UNLEASH? Sign up now for free access to all our online content, exclusive reports, as well as discounts for our events.