The 2014 Digital Board Directors Study
In response to continuing digital disruption, which impacts every industry and function, the need for digital board directors has increased rapidly. Evidence shows that companies that embrace digital transformation outperform their peers across an array of financial measures. Our study of Digital Board Directors at 300 of the world’s largest companies found that:
- The population of digital board directors is rapidly increasing: companies added almost twice as many digital board directors in the past two years as they added in the two previous years
- That said, the vast majority of the global 300 boards remain non-digital: only 10% of the boards can be classified as highly digital (defined as having two or more digital board members), and 80% lack any digital board members at all
- Very few digital board directors conform to the stereotype of the 30-something executive: only 3% of digital board directors are 40 or younger
Read all the findings in our 2014 Digital Board Directors Study
In 2014 Russell Reynolds Associates together with Forrester surveyed over 2,500 leaders across multiple industries and functions. The results are the first annual Digital Pulse which reflects how organizations, industries and roles are changing due to the impact of Digital on those businesses.
Below you will find in-depth insight across 10 industries, plus a focus on the role of the CIO which is being significantly impacted by Digital. The highlights of the study include:
A Digital Barometer: A cross-sector look at the rate of digital disruption. The Media sector is the most disrupted while Industrial and Oil, Gas & Chemicals organizations are the least impacted
The Talent Gap under a microscope: Even in the most disrupted industries, over half of executives surveyed are unsure they have the right people to execute their Digital Strategy
The more disruption, the less the IT function is involved in Digital: Across the industries surveyed, those experiencing the greatest disruption report that their IT function has the least involvement in Digital. In Media for example, the most disrupted industry, Digital is owned by the IT function in 2% of organizations surveyed
Click below to see industry by industry insights which answer key questions like:
- Who owns Digital?
- Do organizations have a Digital Strategy?
- What is the talent gap when it comes to defining and executing the enterprise-level Digital Strategy?
- Who owns which elements of Digital?
- Which functions are the most impacted by Digital?
- What are the biggest barriers to Digital Effectiveness in organizations?
- Oil, Gas and Chemicals
- Transport & Travel
- Professional Services
- Consumer Packaged Goods
Russell Reynolds will be running Digital Pulse Surveys annually to understand how organizations are changing – and being forced to change – due to Digital.
This survey is the 2014 Russell Reynolds Associates & Forrester Digital Organization Survey.
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