According to a new report from Cognizant, the vast majority (over 90%) of business leaders surveyed say it is a strategic priority to adopt a data-driven approach and create a digital-first business model. However, nearly half of respondents (46%) said their organisation lacks the skilled talent necessary to make productive use of advanced technologies.

When asked about the biggest hurdles to implementing new processes, products, services and technologies over the last 12 months, the two most significant challenges were workforce-related: a lack of knowledgeable staff and an ongoing lack of focus on preparing workers for the new ways of work. For example, only 33% of respondents are using data to identify and understand L&D needs and develop talent.

“Resilience is the new must-have capability for every organization that expects to thrive in this time of intensifying competition, ever-accelerating digital technology, and unpredictable global events," said Euan Davis, Head of Cognizant Research. “To succeed as a modern business, leaders must be ready for anything, and prioritization is key when everything seems equally critical. We've shown that savvy technology investment, attention on developing talent with new and expanded skill sets, and embedding and acting on an ESG agenda are core elements of focus on which leaders can build.”

In an uncertain world, it’s tough for businesses to plan months in advance, let alone in years, and the more that organisations can embed resilience into their people, the better-equipped they will be to navigate ongoing volatility.