The role of the CIO has changed somewhat and the pressure on them to demonstrate the value of their investments has never been greater. Jagjit Dhaliwal, VP Global CIO Industry Leader, UiPath, discusses how CIOs can ensure they are investing in the right technology and how automation plays a critical role in addressing the difficulties businesses face, including large layoffs and labor shortage.
If you’re unfamiliar with this role, you would be forgiven for assuming that the types of challenges facing modern CIOs haven’t changed significantly. Finding and retaining top talent, creating a supportive but efficient work environment, and strengthening security are tasks that CIOs have long valued and will continue to do.
However, a closer look reveals that the role will be more difficult than ever in 2022. As CIOs drive digital transformation, they face macroeconomic conditions such as inflation, supply chain disruptions and labor shortages that make their role too demanding. This coupled with the need to consistently demonstrate that the technology they are investing in is adding value to the business and delivering an almost immediate ROI while running on budget.
Jagjit Dhaliwal, VP Global CIO Industry Leader, UiPath
Not only that, but CIOs are also facing unprecedented challenges of great resignation. A recent UiPath survey revealed the impact, finding that 58% of UK office workers don’t know what their responsibilities are when colleagues quit. As a result, 43% say they would consider quitting their job in the next six months. And as if that wasn’t alarming enough, the country faces a shortage of digital skills, with a government report noting that nearly half of UK companies are struggling to recruit jobs that require hard data skills. is needed.
These challenges clearly show why it’s more important than ever for CIOs to maximize the potential of their technology investments. In recognition of this, UiPath recently announced its first CIO Automation Council, which includes leading and innovative CIOs from various industries. The advice is part of UiPath’s broader focus on CIOs, including CIO industry practices that aim to add value to CIOs through education, networking and thought leadership. It aims to accelerate automation readiness by sharing best practices; Identification of new business goals and market needs for automation; and to establish industry benchmarks and provide inputs to guide industry regulation.
The pressure on CIOs to demonstrate the value of their investments has never been greater. So how can they ensure they are investing in the right technology, and what role does automation play in that?
Automation to offset the impact of labor shortages
A recent UiPath executive survey showed that 78 percent are likely to invest more in automation to offset the impact of labor shortages. Additionally, an IDC report predicts that by next year 60% of CIOs will be fired, largely because of their ability to help shape new business models and outcomes through broad enterprise and ecosystem-wide collaboration. is being measured.
In recent years, executives have used automation tools to empower their employees to work smarter, not harder, to drive greater business performance. Managers can also use automation software to help them hire. UiPath found that 58% of executives cited high onboarding and offboarding rates as one of the top challenges their organizations face in responding to labor shortages, and they cited disrupted workflows as a result of those challenges. .
Automation can make operations more effective in any organization, from IT to finance to human resources. This helps employees cope with growing operational demand with limited capacity. Our research also revealed that a total of 86% of executives surveyed believe automation will allow their employees to focus on more creative tasks and spend less time on mundane, repetitive, time-consuming tasks. If you haven’t already, it shows why automation tools should be at the top of every CIO’s investment list.
How employee experience helps retain top talent
Aside from the labor shortage, 74 percent of the officers surveyed admitted they are struggling to attract new talent for important jobs. Expanding access to automation, as well as offering training opportunities, can add great value to both existing workers and prospects. In fact, 85% believe automation amid large layoffs will help them retain employees and hire new talent.
Recent research has found that nearly 86% of employees say on-the-job training is important to them – and nearly three in four (74%) are willing to learn things outside of work hours to improve their job performance. Hm. CIOs need to realize that by consolidating their investments in automation and providing employees with training opportunities to maximize the potential of the technology, they can both effectively address the current labor shortage and help their employees. can prepare you for your professional future.
Accelerate the delivery of digital solutions
IT is both a cornerstone and bottleneck in the development of critical software, but there are not enough developers to tackle all business ideas as a whole. Automation not only helps streamline operations, but also accelerates IT department development activities. It not only meets the business needs in a timely manner without increasing the backlog, but also helps in the rapid deployment of digital solutions that further transform the new business model and generate more revenue for the company.
The low-code automation platform also democratizes the development process, making it easier for employees to implement their automation ideas without requiring formal coding training or other technical skills. This frees up the availability of IT teams to tackle the big problems that really require developer expertise. You don’t have to spend sprints on task automation, which while helpful isn’t the end-to-end process most CIOs want to automate. When the entire enterprise is equipped with a low-code platform, CIOs can focus IT’s valuable time on functions that drive the business forward.
Response to macroeconomic challenges
Undoubtedly, the CIO’s role is under pressure more than ever – and with it, the value of the technology investments made within their organization must be constantly demonstrated. Fortunately, technology, and automation in particular, is playing a crucial role in helping businesses navigate the macroeconomic difficulties they are currently facing, as well as deal with the large layoffs and labor shortages. The best talent can be attracted and retained with the promise of automation proficiency. A CIO’s priorities revolve around the balance between operational excellence, improving customer and employee experiences, and accelerating digital growth—and automation can help achieve these priorities together.
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