[Infographic] How Training Can Boost Your Team's 'Digital IQ'
Fact: Only 12 percent of Fortune 500 companies from 1955 still exist today.
This statistic is an astonishing reflection of the massive transformation that has occurred in business since then. And one of the most significant driving forces of change has been the rise of digital technology and the ability of companies to embrace it—or fail by not doing so.
At the heart of whether a company can "keep up with the times" (including technological innovation and change) is the degree to which the organization's leadership and internal stakeholders possess a high "Digital IQ." Forbes has defined Digital IQ as the "measurement of an organization’s abilities to harness and profit from technology."
Training your company's most important stakeholders, and adapting them to adult learning styles, is essential in increasing Digital IQ. But here is another alarming fact: The Digital IQ of most companies has diminished over the last decade, according to PwC’s 2017 Global Digital IQ Survey: 10th-anniversary edition.
Last year's PwC survey found that just 52% of businesses rated their Digital IQ as "strong"—down from 67% in 2016. As a recent Forbes columnist advised, "Every company in every industry needs to invest and create strategies to increase their Digital IQ despite the challenges because if they don’t the competition will soon surpass them."
If you don’t evolve with the Gig Economy, as Jeff Immelt, CEO of GE has said, “anyone who denied ‘that digitization is going to impact every corner of the economy’ will get left behind.”
In our exclusive Infographic, learn the "Five Training Tips to Boost Digital IQ."