Accelerated digital transformation in response to pandemic
has strengthened business resiliency
TORONTO, Oct. 28, 2020 /CNW/ - The majority of
Canadian business leaders (69 per cent) are confident that their
business will survive the pandemic into 2021 and just over half (54
per cent) feel confident their company will be able to adapt to
whatever the upcoming year might hold. Similarly, half (51 per
cent) are confident their business could survive the second wave or
spike in coronavirus infections. These are some of the key findings
from a new survey released today by Microsoft Canada that explores
confidence levels among Canadian businesses months into the
COVID-19 pandemic and the impact technology has had on their
operations and workforce.
Microsoft surveyed 670 business decision-makers across a
spectrum of types and sizes of Canadian businesses, ranging from
micro (fewer than 10 employees) to large enterprises (500+
employees). While many say they have taken a hit from the pandemic
and have had to change the way they operate, most (56 per cent) say
the pandemic has provided the catalyst their company needed to
adopt new technology and new ways of working.
"Digital resilience is paramount and never more so than when
dealing with the impact of major disruptions like the pandemic.
Organizations are relying on technology to adapt and thrive – from
emergency response, to recovery, to reimagining the way we work and
live," said Kevin Peesker, President
of Microsoft Canada. "The pace of digital transformation has
accelerated all over the world, and it is clear, those
organizations that are using data, AI and the cloud are better
equipped and more likely to not just survive, but to thrive."
A CATALYST FOR DIGITAL TRANSFORMATION
Whether it has
been a shift to remote work leveraging collaboration tools like
Microsoft Teams to maintain a connected workforce, or digitizing
key business operation using Dynamics 365 and Power Platforms,
there is a strong perception among Canadian business leaders that
having to adopt new technology and new ways of working has been a
direct result of the COVID-19 experience.
Nearly half (45 per cent) said their digital transformation was
overdue, and two thirds of that group (66 per cent) say their
business suffered amid the pandemic as a result. However, 71 per
cent of those who felt a transformation was needed, explicitly
agree that COVID-19 has provided the catalyst their organization
needed to adopt new ways of working and new types of
technology.
As companies shift to hybrid work and continue to move their
products and services online, it is more important than ever that
security is top of mind and a key area of investment. Only one in
four business decision makers (26 per cent) say that their company
has already identified and applied new security solutions for
online processes, as part of its COVID response, and one in five
(20 per cent) have prioritized migrating to the cloud within the
next year.
"Millions of people moving to remote work, remote learning and
even remote socializing in a matter of months means the number of
potential targets for cyber criminals has never been higher,"
Peesker said. "While I am heartened by the innovation and agility I
have seen, business leaders must be equally focused on securing
their organizations' digital infrastructure as they evolve their
business."
TALENT AND WORKFORCE SKILLS
The global recovery will
be digital and the success of Canada's recovery will be contingent in our
ability to innovate, but organizations can only do that if they
have the workforce to adopt and deploy digital solutions. The
survey revealed only four in ten (38 per cent) business decision
makers have changed their employee training or are specifically
training their staff in the new tools and platforms their
organization is now using. Nearly half (45 per cent) of respondents
said that training staff – or hiring new staff – with the skills
required in their new ways of working has been a challenge for
their business this year.
"There is an immediate need to cultivate a skilled talent
pipeline to drive innovation in Canada and fuel economic recovery," said
Peesker. "Whether it's students preparing for the future, those in
the workforce keeping pace with the latest skills to drive
innovation or those seeking new skills so they can pursue
meaningful employment opportunities, we must ensure Canadians have
access to the training they need to succeed in the digital
economy."
To help alleviate both the needs and the challenges in giving
employees new skills, this summer Microsoft announced a new global
skills initiative aimed at bringing more digital skills to 25
million people worldwide by the end of this year. This was followed
by an announcement in September whereby 12 post-secondary
institutions joined Microsoft Canada for the "Canada Skills
Program" enabling more than 4,500 students in diploma, degree and
continuing education programs to graduate with in-demand data
analytics, AI and cloud certifications in the first phase of the
program.
OTHER KEY FINDINGS OF THE SURVEY INCLUDE
- Almost two-thirds (64 per cent) of those whose businesses have
been negatively affected by COVID-19 believe they'll remain
operational next year.
- Most (56 per cent) say they have had to change how they do
business, with 50 per cent saying they have had to change how they
serve their customers.
- Twenty-nine per cent reported they have lost business or
customers to the pandemic, with more than one-quarter (28 per cent)
having had to cut staff.
Despite the disruption, a sizeable number of business leaders
think the pandemic has taught them valuable lessons, with 64 per
cent saying it will help their business evolve and grow in the
future. More than half (54 per cent) feel their company is better
equipped now than pre-COVID to keep pace with shifts in their
industry – with more than one-quarter (28 per cent) saying their
business is serving customers better now than before the pandemic
struck.
To build the skills needed for business resiliency and to drive
innovation, visit Microsoft Learn or opportunity.linkedin.com to
access no-cost learning tools today.
ABOUT THE SURVEY
These results are drawn from a survey
conducted by Fuse Insights on behalf of Microsoft Canada. A total
of 670 business decision makers from across Canada, representing a range of company sizes
and industries, were surveyed online in English and French between
September 30, 2020 and October 9, 2020.
ABOUT MICROSOFT CANADA
Established in 1985, Microsoft
Canada Inc. is the Canadian subsidiary of Microsoft Corporation
(Nasdaq "MSFT") the worldwide leader in software, services and
solutions that help people and businesses realize their full
potential. Microsoft Canada provides nationwide sales, marketing,
consulting and local support services in both French and English.
For more information on Microsoft Canada, please visit
www.microsoft.ca.
SOURCE Microsoft Canada Inc.