It’s been said that speed is the ultimate advantage in business. This concept is particularly relevant today: The pace of business is even faster now as companies plan for life after COVID-19. What’s trending today becomes tomorrow’s disruption—and tomorrow’s disruption will eventually define a new way of working.
The question is, when disruption arrives (and it will), when and how do you initiate your transformation? And what happens if you don’t move fast enough?
Enter the Acceleration Gap
Plenty of companies are scrambling to answer those questions. Yet most are coming to the difficult realization that a chasm exists between the pace of change and their ability to keep up with it. Workday defines this as the acceleration gap. It was already emerging prior to the pandemic, but the past year-plus tested every organization’s ability to respond.
Indeed, the C-suite reports the acceleration gap is real:
63% say their processes and execution are too slow.
80% say it takes too long to make decisions.
74% say they’re not ready for what’s next. They know reskilling is urgent, but only 10% are ready to act on it.
75% say they’re stuck in operational silos