Several interesting pieces of research were published this week.
According to research by Lattice, employees are optimistic and performing well but could do even better with the right incentives. Oracle NetSuite published a report examining the cautious optimism of CFOs for 2023. Other research emerged from 6sense, Action1, Anthology, HubSpot, Jobber, Pluralsight, Tacton and Visier.
6sense
6sense released results of the 6sense 2023 State of the BDR survey during the 4th Annual BDR Appreciation Week. 80% of Business Development Representatives (BDRs) still achieve their sales quotas even though job conditions are harder. 46% of respondents reported that securing meetings in their prospect accounts is more challenging than last year. 41% of BDRs are finding it harder to meet their sales targets than in the past
Latane Conant, CMO at 6sense, said, “Responses from our BDR research emphasizes the need for sales leaders to re-evaluate their strategies and ensure that they are providing their sellers with the necessary resources and tools to succeed in their roles.
“We recently launched 6sense Revenue AI™ for Sales to equip BDRs with a single platform for intelligence on their accounts and buying teams so they can light up the Dark Funnel, prioritize the best opportunities, and boost productivity. When BDRs spend less time researching they can invest more time engaging people who are likely to not just accept the call, but are happy to receive it.”
Action1
Action1 Corporation released its 2023 State of Vulnerability Remediation Report. Key findings in the report included:
- The time to combat low cybersecurity awareness among employees has increased over the past year.
- 10% of organizations suffered a breach over the past 12 months, with 47% resulting from known security vulnerabilities; phishing was the most common attack vector reported by 49% of respondents; 54% of victims had their data encrypted by ransomware.
- IT teams rank the lack of support from the executive team for cybersecurity initiatives as the key threat to cyber resilience. Many IT teams also face operational issues that leave no time for cybersecurity.
- 30% of organizations take more than a month to detect known vulnerabilities.
- 38% of organizations fail to prioritize security flaws, while 40% take more than a month to remediate known vulnerabilities (24% take more than 3 months).
- On average, 20% of endpoints remain continuously unpatched due to laptop shutdowns or update errors.
Alex Vovk, CEO and co-founder of Action1 commented, “The gaps in the detection and prioritization stages of vulnerability management suggest the actual proportion of unpatched endpoints could be much higher. Organizations must ensure effective communication on all levels to eliminate these gaps, implement automation, and build cyber resilience. Otherwise, we risk another year of costly breaches.”
Anthology
Anthology announced the launch of the new Anthology Education and Research Center’s thought leadership and research website. The Center will closely monitor legislative actions, regulatory issues, and policies affecting higher education and education technology, including increasing educational opportunities, supporting underserved and at-risk populations, and improving educational efficiencies and outcomes.
This includes a focus on teaching, learning, and accessibility; institutional and operational effectiveness; and enrollment, retention, and student success. The Center will focus on Historically Black Colleges and Universities (HBCUs) and community colleges, as well as in the global advancement of digital education.
Jim Milton, Chairman and CEO of Anthology, commented, “We are thrilled to facilitate this incredibly valuable thought leadership and research that connects higher ed and edtech experts, institutions and influencers on critical topics impacting, and shaping global education. As Anthology’s mission is to inspire and enable an infinite world of learning without boundaries, we are doubling down on our commitment as an industry leader to partner with the global education community to move these conversations forward.”
HubSpot
HubSpot published the 2023 Hybrid Work Report. A survey of 5,000 employees found that 63.4% prefer to work at home, 8.3% in the office, and 28.3% flex, a combination of the two. The report looks at how well-connected remote and office workers are, and the findings dispel some myths. However, having close relationships at work helps to make employees loyal. 66% of respondents who report having a close friend at work say this impacts their intent to stay with their company.
Connections are important for both employee relationships and customer relationships. Yamini Rangan, the CEO of HubSpot, commented, “We believe the companies who will win in the future are the ones that focus on customer connection, not customer management. That means you need more than data, you need context. You need more than leads, you need connection. You need more than contacts, you need community.”
The report also looked at why people go to the office, why people leave the company and the emergence of well-being.
Jobber
Jobber released its latest Home Service Economic Report: 2022 Review and 2023 Outlook. The report features expert insights and proprietary data aggregated from more than 200,000 residential cleaners, landscapers, HVAC technicians, electricians, plumbers, and more, who use Jobber.
The report looks across three distinct areas:
- Home Service is showing positive signs of continued growth and resilience. The category provides essential services that will continue to be in demand, even during tough economic conditions. This resilience attracts a steady pipeline of new entrepreneurs and individuals seeking to build careers in the Home Service category.
- Consumer demand is strong heading into 2023 despite economic headwinds and being measured against the exceptional performance of 2021.
- Despite or perhaps because of rising costs, Home Services businesses continue to increase revenue.
Sam Pillar, CEO & co-founder of Jobber, commented, “While no category has been fully immune to the turbulent economic times, Home Service has remained remarkably steady and resilient throughout.
“This is a category that does important work that people can’t live without, contributes to the strength of local communities, and provides purposeful jobs to hard-working professionals. It’s a combination of these factors that is attracting young adults, individuals seeking career change, and entrepreneurs to enter the category at a growing pace.”
NTT Data
Research by NTT DATA UK&I revealed that only 4% of car owners plan to arrange to purchase online, down 11% compared to the previous year. Furthermore, 83% of car owners purchased their vehicle from either a main brand or an independent dealership. It indicates a significant shift in car purchasing habits as consumers return to pre-covid practices.
Dominic Rowles, Automotive Client Partner at NTT DATA UK&I, commented, “These results show a surprising reduction in pure online D2C, although the exit out of Covid may have caused earlier results to be inflated. There was a sometimes reluctant acceptance from the retailer community that Agency was going to fundamentally change business models, but many may now be considering whether they should invest in a different strategy altogether.
“It’s worth considering that the online customer journey doesn’t have to be 100% digital and the respondents may well have a different view as to what fully online means to the car makers. Several OEMs are developing retailer capability into the online journey, but still involving the retailer in the final part of the journey. It’s not quite an agency model, but it’s moving much more online. For those transitioning to this model, the biggest challenge is how to migrate and share customer data across multiple interested parties, so it’s imperative that the right partners are in place to facilitate this.
“The sharing economy results further reflect ever-changing consumer demands and disruption to the traditional car purchasing market. Dealers and retailers probably won’t welcome these results, but now have to place some bets about what kind of mobility offer they want to make. Whichever route is taken, those in the sector must ensure they’re digitally transforming to respond to changing consumer demands in order to maintain competitive advantage.”
Pluralsight
Pluralsight released its 2023 State of Upskilling Report, which compiles survey results from more than 1,200 tech learners and leaders in the United States, the United Kingdom, Australia, and India on the most current trends and attitudes around tech skills development.
Key findings from the report included:
- 65% of tech team leaders have been asked to cut costs
- 72% still plan to increase their investment in tech skill development in 2023
- 97% of learning and development and HR directors say they prioritise internal talent over hiring for open positions.
Upskilling is becoming a necessity with:
- 67% of tech managers reported that workforce reductions in their organization across software, IT, and data have resulted in their teams taking on more responsibility
- 47% of technologists agree they have had to perform additional responsibilities outside their primary job function.
Gary Eimerman, Chief Product Officer at Pluralsight, commented, “This year’s research findings underscore the importance of maximizing employee potential and optimizing learning investments to drive business ROI. Organizations and individuals alike are being asked to do more with less in the face of reduced workforces and larger economic pressures. For future-focused companies, an emphasis on continuous upskilling will help sharpen their competitive edge.”
With cybersecurity, data science, and cloud the skills managers are looking to prioritise, it is perhaps surprising that:
- 17% of technologists are completely confident in their cybersecurity skills, while 21% are not confident at all
- 25% of technologists are completely confident in their data skills, while 8% are not confident at all
- 21% of technologists are completely confident in their cloud skills, while 17% are not confident at all.
Tacton
Tacton has published the results of its “State of Digital Manufacturing 2023” survey. It revealed an industry focused on building resiliency to ensure smooth end-to-end operations as it braces for a potential global recession. Key findings included:
- Digital transformation will be important in 2023. 74% of respondents noted digital transformation’s importance in achieving their business goals in the coming year.
- The uncertain economic conditions are driving digital transformation investment. 32% of respondents are accelerating digital transformation, with 67% prioritizing sales transformation.
- Supply chains remain critical, with 64% of respondents investing in supply chains in 2023.
- Environmental, Social and Governance (ESG) goals are now top-of-mind for manufacturers everywhere. 63% of respondents think sustainability is very or extremely important, recognizing its potential to create value and mitigate organizational risk.
Bo Gyldenvang, Chief Executive Officer at Tacton, commented, “In recent years, disruption has been a constant for manufacturers, shaping and reshaping the industry. In 2023, this will continue to be the trend as recession sets in across global markets.
“For manufacturers, this means accelerating digital transformation will be more important than ever as they strive to deliver the custom products and sustainable options today’s customers demand. The manufacturers who provide these solutions will continue to win new business, while others struggle to stay competitive and lose market share over time.”
Visier
53% of employees in the UK feel overworked, according to new data from Censuswide, commissioned by people analytics company Visier. 40% of employees would look for a new job with a better work-life balance if they felt overworked. However, the feeling of being overwhelmed is not solely occurring in the workplace, with 64% citing the cost-of-living crisis and 34% family responsibilities.
Employees noted that employers could take certain actions that would help them.
- 39% revealed that moving to a four-day-working-week would be key
- 37% compensation for the work they do
- 31% an early finish on a Friday
- 30% pointed to more flexible working
Ben Harris, Director of EMEA North, Visier, said, “This data is a warning signal for employers attempting to buckle down and push for more from their employees. For many, workloads no longer feel bearable, whether directly related to additional responsibilities, or outside pressure. With business leaders under immense pressure to sustain output, it’s critical they establish a sustainable environment for their employees or risk seeing employees hit exhaustive levels or burn out, or leave entirely.
“Doing more with less may be the economic reality of the moment, but it can come at a cost. There’s a difference between efficiency and effectiveness. Businesses should take the time to understand how their teams are feeling, and engage employees in conversations about workload using workplace tools to gauge their stress levels. Leaders, including line managers, can then also work with individuals to reduce work-related exhaustion and provide support where it is needed most.”
