News

June 28, 2013

Risk-averse businesses are failing to thrive

Fear is holding back UK businesses and preventing them from innovating, according to a survey commissioned by online backup service Mozy.

It finds that one third of workplace projects have been blocked by risk-averse business managers due to fear.

In particular, managers are reluctant to invest in new technology. The survey finds that 64% of IT decision makers believe managers are the most fearful of new technology implementations and 65% say that they or their company see the adoption of technology as a risk.

"Leaders in business and technology need to be enablers, not roadblocks, if they want their companies to succeed in difficult economic circumstances," said Gytis Barzdukas, senior director of product management at Mozy. "Through their own admission and definition, a full 88% of employees and IT decision makers are already bringing their own irrational fears to the workplace; they need direction from those who understand technology and business to encourage them out of their shells."

The survey paints a picture of IT managers that are hindering progress – with 49% of ideas generated to improve businesses being delayed for so long by the IT department that they fail to deliver results. There are also still misunderstandings about new opportunities such as the cloud.

"Irrational fears associated with innovation, collaboration and using new technology like cloud services hold back success," said Barzdukas. "Signing a project off, or rejecting it, based on preconceptions and buzzwords means that businesses are missing out. To succeed, businesses need to look at the actual benefits and risks of innovation – and stay up to speed with new developments that make adoption safer."

But it is also a general fear of trying new things at work that is stifling innovation, says the report. Less than half (43%) of all employees and managers questioned said their business actively embraces change. One in three (39%) haven't submitted any ideas at work, and only 12% of office workers have had an idea at work that has been put into practice.