Risk-Taking and Collaboration Among Top People Practices Driving Digital Success, West Monroe Research Finds
Report identifies key drivers for high performance and high digital agility
CHICAGO, Sept. 28, 2022 /PRNewswire/ -- West Monroe, one of the fastest-growing digital services firms, today announced the findings of its new research, "Building a Digital Organization." This report succeeds West Monroe's Be Digital Research published in August 2022, designed to narrow the focus on the biggest area where leaders need the most support and direction with digital transformation: Organization & People. The strategies and data outlined in this research will help companies and leaders move past this hurdle.
The research polls more than 300 executives to identify the critical culture, talent, and structure practices driving digital agility and business performance.
Digital agility is an organization's ability to effectively leverage data and technology and alter work processes to improve customer and employee experiences and corresponding business results. Digitally mature organizations are adept at leveraging data to shape insights, predict outcomes, and drive shorter- and longer-term business growth, ultimately becoming more competitive.
"Professionals across every industry are re-evaluating their career paths and looking for the right employer to meet their needs," says David Hilborn, Managing Partner of West Monroe's Human Capital Management practice. "In the middle of this societal reckoning around how we define and value work, the data offers a clear mandate: The time is now for organizations to adopt a digital approach that will build agile, high-performing teams."
The research findings highlight key accelerators of companies with high performance and high digital agility (HH), noting what makes them especially competitive and positioned for success, including:
- Risk-taking – Nearly 9 in 10 HH companies (87%) report that the company's culture fosters a "fail fast" environment that encourages measured risk-taking. This environment keeps talent focused on long-term outcomes while allowing for experimentation.
- Collaboration – HH organizations bring together diverse perspectives to problem solve, develop new solutions and make improvement iteratively. A notable 90% of HH organizations report that they measure, reward, and recognize employees for working collaboratively to achieve business results.
- Development – In a competitive talent market, 100% of HH companies have a defined learning and upskilling strategy to build necessary digital skills. Critically, these organizations have key ownership for training and learning from across the business—not just within human resources or talent management.
- Retention – HH companies are also effectively battling societal trends like the "Great Resignation" and "quiet quitting." A notable 80% of HH organizations say they have the strategies needed to improve talent retention or already retain all the talent needed to be successful.
In addition to the four key drivers, the report also identifies 10 statistically significant attributes that are correlated with high performance and high digital agility. For more findings, view the full report here.
About the Research
West Monroe's human capital research was conducted in partnership with Sapient Insights Group through an online survey platform and 1:1 interview tactics rooted in best practices, reaching 300 respondents across private, public and government/non-profit sectors throughout North America, South America, Europe, Africa and Asia Pacific. Ninety percent of respondents were executives or director-level leaders across 10 industries.
About West Monroe
West Monroe is a digital services firm that was born in technology but built for business—partnering with companies in transformative industries to deliver quantifiable financial value. We believe that digital is a mindset—not a project, a team, or a destination—and it's something companies become, not something they do. That's why we work in diverse, multidisciplinary teams that blend management consulting, digital design, and product engineering to move companies from traditional ways of working to digital operating models—and create experiences that transcend the digital and physical worlds. Connected by the 13 founding values that drive our culture, our 2,400 employees work collaboratively across the firm with the belief that our clients' success is our success. Visit WestMonroe.com to learn more.
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SOURCE West Monroe Partners
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