Investment in new Technology is growing at a faster rate than at any time since 2006, but digital skills shortages risk holding companies back – CIO Survey 2014

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Investment in new Technology is growing at a faster rate than at any time since 2006, but digital skills shortages risk holding companies back – CIO Survey 2014

More organisations are reporting increases in investment in technology than at any time since 2006 as business confidence returns and companies act fast to play catch up on their digital offering.

This is according the 16th annual Harvey Nash CIO Survey, representing the views of more than 3,200 Chief Information Officers (CIOs) and Technology leaders from across more than thirty countries, with a combined technology spend of over $160bn. The Survey is one of the largest and most comprehensive polls of technology leaders in the world.

As the global economy begins to recover, organisations are ramping up their investment in digital, mobile and online which has had a further knock on effect in the growing skills shortage, with almost two-thirds of companies reporting that lack of access to the right technology talent is holding back their digital strategy.

Record optimism

Technology budgets are growing as Chief Executives increasingly favour investing for growth over cost reduction and efficiencies. Newly created roles within companies are evolving to lead digital growth, such as the emergence of the ‘Chief Digital Officer’ and the increasing influence Chief Marketing Officers have over technology related spend.

 

New projects and priorities are creating skills shortages:

For the first time since the recession, the skills shortage is once again appearing as a major management concern. In Asia, for example, the problem is particularly acute. Retaining, developing and acquiring the skills to drive the growth program are now major priorities for leaders all over the world.

UK 59%

Asia 76%

Northern Europe 61%

West / Rest of Europe 60%

Eastern Europe 57%

North America 56%

Australasia 50%

Table: CIOs indicating concern that skills shortage is hindering progress

Dr Jonathan Mitchell, Chairman of Harvey Nash’s global CIO Practice commented:

“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. 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.”

NOTES TO EDITORSAbout the research:

(i) The Harvey Nash CIO Survey 2014 collected data between 6th January and 19th April 2014 and represents the views of 3,211 technology leaders from more than 30 countries, with a combined IT spend of $160bn. Of the respondents, 34 per cent identified themselves as CIOs, 8 per cent as CTOs, 36 per cent as director / VP in technology and the remaining 22 per cent were spread across a broad range of other roles including CEOs and COOs.

(ii) For more information about the survey and to request a full copy of the results, please visit www.harveynash.com/ciosurvey or email michelle.smith@harveynash.com

 

Media Relations contacts: Rob Grimsey

Group Marketing Director, Harvey Nash plc Robert.grimsey@harveynash.com +44 (0)20 7333 0033

 

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