So, we heard from Gartner, time to hear from Forrester. How about some of their predictions for 2022 for tech executives. Quoting from ZDNet and CIODive.
Forward looking execs will move to “human centered tech transformation”. Forrester expects 10% of tech executives, those at top-performing companies, will focus investments on human-centered tech initiatives at three times the rate of their competitors. Leading firms will tackle this problem by unlocking the creativity of their employees and establishing a new era of transformation comprising human-centered tech initiatives that form a tight link between customer experience (CX) and employee experience.
There will be a tech talent shortage – -and the response will create problems until new sourcing models help. Firms that don’t get in front of this challenge will resort to boosting wages to attract talent, resulting in (typically negative) financial impacts for their firm and the overall talent market.
Tech debt will get worse. Companies accumulated technical debt in the aftermath of their technology implementation in 2020 and many organizations still have problems left to address as companies adapt to ongoing change. Forrester is expecting the rapid acceleration of technology will worsen tech debt for 60% of firms.
I’m not willing to agree that boosting wages results in negative financial impacts. I’ve seen both studies and examples to the contrary.
As for tech debt, that’s real. Amidst all this transformation, here’s the eye IT services companies should have. First, do not fall for the fallacy of sunk cost. Particularly for smaller businesses, the pain of change can be significantly lower, and a competitive advantage to leverage. Investments in the past put a business where it is now…. And thus that investment is recouped. Sometimes you throw the old away to make room for the new.
And thus have that same critical eye not just on your customers but on your vendors. Throw out the ones who aren’t paying their own technical debt… because the IT provider ends up shouldering that debt and risk too.