Data, tech, people – what energy and other sector CEOs view as essential

These are key to driving growth and companies that realise the combination stand to gain a top-line productivity premium of 11%, Accenture reports.

In the survey, which was based on input from 1,140 CEOs and chief human resource officers across the energy and other sectors in 12 countries, Accenture found that despite the potential, only 5% of large global organisations are unlocking its value.

Moreover, the 11% productivity premium drops to 4% when companies implement data and technology solutions that fail to put their people at the centre, which highlights the significant impact that people have as a key source of competitive differentiation and growth.

Yusuf Tayob, group chief executive of Accenture Operations, says that as leaders look to digitise faster and put more resilience in their business operations, talent and the role of the chief human resource officers have never been more strategic.

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“The research underscores the tremendous benefit of close collaboration across the C-suite, particularly as it relates to their people as companies adapt to new ways of working.”

The top growth drivers identified by the CEOs in the study included enhancing performance and productivity through data, technology and AI and accessing and creating top talent; closely followed by driving collaboration across business units and enhancing the company’s digital core.

The study also identified the chief human resource officers as a key catalyst in unlocking the value of this data-tech-people combination for growth.

Among the CEOs surveyed, the majority said chief human resource officers should play a key role in ensuring long-term profitable growth. However, less than half report that they are creating the conditions that enable them to do so.

In conclusion, Accenture asks what makes these companies so effective.

“The answer lies in the new skills, redefined roles and boundaryless connections taking shape in the C-suite. With unprecedented access to data, enabled by cloud solutions, executives are discovering powerful ways to lead change within the organization and beyond.”