The majority of the surveyed companies have increased their spending on digital and technology initiatives in the past year during the COVID-19 pandemic, while other costs generally saw a decrease. Additionally, 44 percent of companies increased their number of full-time equivalent (FTEs) employees in digital/tech roles, whereas 43 percent of respondents reported decrease in overall numbers of FTEs .
Changes in business metrics on tech spending, costs, etc. in 2020
(COVID-19 impact)
Characteristic
Increase
No change
Decrease
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C-level executives, senior managers, and business-unit, department, or division heads representing the full range of regions, industries, company sizes, and functional specialities
Method of interview
Online survey
Supplementary notes
Note: Respondents who answered "don't know" were not disclosed.
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McKinsey & Company. (May 26, 2021). Changes in business metrics on tech spending, costs, etc. in 2020 (COVID-19 impact) [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/1248746/changes-in-business-spending-digital-tech/
McKinsey & Company. "Changes in business metrics on tech spending, costs, etc. in 2020 (COVID-19 impact)." Chart. May 26, 2021. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/1248746/changes-in-business-spending-digital-tech/
McKinsey & Company. (2021). Changes in business metrics on tech spending, costs, etc. in 2020 (COVID-19 impact). Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/1248746/changes-in-business-spending-digital-tech/
McKinsey & Company. "Changes in Business Metrics on Tech Spending, Costs, Etc. in 2020 (Covid-19 Impact)." Statista, Statista Inc., 26 May 2021, https://www.statista.com/statistics/1248746/changes-in-business-spending-digital-tech/
McKinsey & Company, Changes in business metrics on tech spending, costs, etc. in 2020 (COVID-19 impact) Statista, https://www.statista.com/statistics/1248746/changes-in-business-spending-digital-tech/ (last visited September 01, 2024)
Changes in business metrics on tech spending, costs, etc. in 2020 (COVID-19 impact) [Graph], McKinsey & Company, May 26, 2021. [Online]. Available: https://www.statista.com/statistics/1248746/changes-in-business-spending-digital-tech/
