Toolbox – by Sandra Loughlin
With the rapid digitization of business, IT has moved to the main stage. No longer just a back-office function, it has assumed a key role as a core driver for transformation. This shift requires IT teams to develop new technology and leadership capabilities and ensure that those skills evolve with the business needs, writes Sandra Loughlin, Managing Principal, Learning Advisory Practice, EPAM Systems, Inc.
Each year, CXOs allocate billions of dollars to develop employee capabilities, and the results are often disappointing. Many companies see no ROI at all. For others, upskilling investments result in temporary gains but, inevitably, IT teams fall back into old patterns, stalling change.
Faced with large-scale transformation imperatives, companies devote scant attention to building the capabilities necessary to achieve—and maintain—the new strategy. In other words, they forget that business success is a three-legged stool: technology, processes, and people.
I take a slightly different view. In my experience, company leaders don’t forget about building critical capabilities; they just approach the challenge in the wrong way. Capability building — or getting employees to behave, think, and work differently — is harder than it seems, and leaders’ instincts often fail them.