“Having invested so much in digital business over the past 12 to 18 months, enterprises are taking a pause to validate their strategy and ensure ROI,” said Iyengar. “For BoDs, the core focus is now on technology integration and creating a more enduring and systemic digital economic architecture, where technology is infused throughout the business and drives business outcomes.”
The survey found that 64% of BoDs have attempted to alter their enterprise economic structure to a more digital economic architecture – meaning they are changing their capital allocation and governance approaches to accommodate digital investments. As examples, 40% of BoDs have moved digital business-related budgets to business functions, rather than a central technology or IT budget; one-third are changing the metrics used to evaluate ROI from digital investments.
While Boards are shifting focus to the role of technology beyond IT, CIOs remain visible as a key partner in BoDs’ digital initiatives. One third (34%) of BoDs report having a formally constituted IT, digital or technology subcommittee, and the vast majority (94%) among them include the CIO or CTO as a member.
Workforce and Social Issues a Rising Focus
Workforce issues were among the top strategic priorities for 52% of BoDs, representing an 86% increase in interest over the 2021 survey.
“Workforce concerns are closely linked with technology transformation,” said Iyengar. “As enterprises accelerate their digital business initiatives, issues such as the IT skills shortage, the need to create a digitally agile workforce and culture transformation become that much more critical.”
Environmental, social and governance (ESG), health and sustainability rounded out the top three BoD priorities, up by 100% from last year. The survey found that 30% of BoDs report that their organization publicly engages in leading social or political issues, while nearly half of BoDs (45%) have diversity, equity and inclusion (DEI) on their board meeting agenda at every board meeting or quarterly.
Gartner clients can read more in "Roadmap to Renewal: The 2022 Board of Directors Survey." Learn more in the complimentary Gartner webinar “Roadmap to Renewal: Insights from the 2022 Board of Directors Survey.”
About Gartner IT Symposium/Xpo
Gartner IT Symposium/Xpo 2021 is the world's most important gathering for CIOs and other IT executives. IT executives rely on these conferences to gain insight into how their organizations can use IT to overcome business challenges and improve operational efficiency. Follow news, photos and video coming from Gartner IT Symposium/Xpo on the Gartner Newsroom, Smarter With Gartner, on Twitter using #GartnerSYM, Instagram, Facebook and LinkedIn.
Upcoming dates and locations for Gartner IT Symposium/Xpo include:
October 25-27 | APAC | Virtual
November 8-11 | EMEA | Virtual
November 16-18 | Japan | Virtual
November 30-December 2 | India | Virtual
About the Gartner Information Technology Practice
The Gartner IT practice provides CIOs and IT leaders with the insights and tools to drive the organization through digital transformation to lead business growth. Additional information is available at www.gartner.com/en/information-technology. Follow news and updates from the Gartner IT practice on Twitter and LinkedIn using #GartnerIT.
