FastCampus Corporate DT Education Survey: 7 out of 10 Companies See Digital Transformation as Crucial for Business Competitiveness

7 out of 10 Companies Say “Digital Transformation is Necessary to Stay Competitive”
FastCampus Conducts Digital Transformation Education Survey with Around 250 Companies

– 72.3% of companies report the need for digital transformation, primarily to stay competitive
– Companies face challenges like a lack of practical training and insufficient skilled staff
– FastCampus offers a comprehensive B2B Online Subscription Education Service to support full digital transformation education

December 23, 2021 – As digital transformation (DT) becomes a critical focus across all industries due to the 4th Industrial Revolution and COVID-19, a survey conducted by FastCampus reveals that while companies recognize the necessity of digital transformation, many struggle with workforce and budget constraints.

FastCampus, a Corporate-Incubated Company (CIC) of Day1 Company, published the Future Report for HRD: Digital Transformation today, analyzing corporate readiness and challenges in pursuing digital transformation.

The report was based on a survey of HR and training managers from approximately 250 companies in industries such as manufacturing, retail/logistics, finance/insurance, and IT/services.

According to the report, 72.3% of the companies surveyed stated that digital transformation was necessary, underscoring its growing importance across all sectors. The main reasons cited for needing DT were “to stay competitive” (65.3%), “because business operations are shifting to digital platforms” (60.3%), and “to keep up with global trends” (46.7%).

There was a notable difference between companies actively pursuing DT and those that were not. Companies actively driving digital transformation (N=154) cited “organizational culture innovation” (58.4%), “smart manufacturing processes using big data and AI” (52.6%), and “service improvements through customer analytics” (48.7%) as key reasons for adopting DT. In contrast, companies less engaged with DT (N=88) pointed to challenges like “budget constraints” (43.2%), “lack of skilled personnel” (38.6%), and “lack of executive support” (34.1%).

The survey also found that 53.3% of respondents had conducted digital transformation training for their employees, with 61.2% expressing plans to implement or continue DT training in the future. However, challenges such as a “lack of specialized training staff” (36.8%) and “lack of practical, work-related courses” (34.2%) were cited as major obstacles to sustaining such training.

The report emphasized that even when DT training is implemented, it is difficult to fully meet the needs of individual learners due to the broad scope and rapidly changing nature of the digital landscape. The reasons for pursuing DT training, as well as the level of required expertise, vary across industries and job roles. Consequently, training programs that were less relevant to the practical aspects of digital transformation tended to result in lower satisfaction levels. The report suggested that, rather than group-based training by job or rank, companies should offer personalized learning environments tailored to each employee’s digital proficiency.

To address these challenges, FastCampus developed an Online Subscription Education Service that allows companies to provide digital transformation education tailored to individual employees. The service offers unlimited access to more than 20,000 up-to-date online courses across six key fields, enabling employees to choose courses based on their personal skill levels, needs, and job roles. FastCampus currently has 3,108 corporate clients using its B2B subscription service.

KT, a leading customer, stated, “We used FastCampus’ education subscription service to cultivate our in-house task force (TF) team,” while eBay Korea explained, “COVID-19 prompted the need for alternative corporate education methods, and we used the subscription service to provide practical training tailored to the diverse levels and demands of our employees.”

Shin Haedong, CEO of FastCampus CIC, commented, “The pace of digital transformation across companies is accelerating. For successful digital innovation, it’s essential to first enhance the capabilities of employees. In 2022, we will continue to provide diverse educational offerings and insights to effectively support companies in their digital transformation efforts.”

FastCampus’ corporate education division saw a 277% increase in revenue, a 158% rise in corporate clients, and a 132% growth in corporate education inquiries in the first half of this year compared to the same period last year.

The full report can be accessed on the FastCampus website.