The pace of digital disruption is accelerating but companies lack leadership talent to drive success in this era, says a ManpowerGroup report.
The report noted that companies need to embrace this transformation and the process needs to be a continuous one for the organisations to remain competitive.
However, almost nine out of 10 HR leaders do not believe they have the leadership talent to drive success in the digital era.
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ManpowerGroup launched the report -- 'From C-suite to Digital Suite, How to Lead Through Digital Transformation' -- at the World Economic Forum annual meeting here yesterday.
According to the report, companies that adopt digital transformation are up to 26 per cent more profitable than their competitors and enjoy up to 12 per cent higher market valuation.
"Transforming quickly can make the difference between success and failure, and needs to be continuous for organizations to stay ahead and remain competitive," it noted.
Digital leadership is not a total replacement of the fundamental attributes, instead the 80/20 rule applies. "Eighty per cent of the competencies and enablers that have always made leaders effective remain the same," it noted.
"Current and future leaders in the digital age must be open to change and ready to take calculated risks," ManpowerGroup Chairman and CEO Jonas Prising said adding that foundational leadership skills like endurance and adaptability continue to be critical.
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