A study conducted by the Cyprus Employers and Industrialists Federation (Oev) has highlighted the importance of digital transformation for businesses, emerging as a key factor for their long-term success, growth and competitiveness.

However, the study, whose findings were published this week, also revealed that although there is a recognised need to improve the digital skills of the workforce, businesses are not fully capitalising on opportunities to train their staff.

Specifically, 37 per cent of businesses stated they intend to provide their staff with digital skills training only when necessary.

Meanwhile, 25 per cent of respondents indicated they offer training every six months, and 14 per cent do so once a year.

Nevertheless, the study’s results demonstrate that Cypriot businesses acknowledge the benefits digital transformation can bring.

However, the costs associated with such a transition, the time required for implementation, and rapidly changing technological advancements act as deterrents.

The study, conducted as part of the development pillars project under the Thalia 2021-2027 cohesion policy programme, co-financed by the EU, was presented during a press conference organised by the federation.

Additionally, 55.2 per cent of respondents consider the level of digital skills of their company’s staff to be good, while 24.8 per cent rate it as moderate.

Furthermore, 11 per cent judged their staff’s digital skills to be excellent.

Regarding the main reasons why staff need digital skills, 58.1 per cent cited increased productivity as the primary reason, followed by adaptation to digital transition at 55.7 per cent, and improvement in customer service at 54.3 per cent.

In response to the question about the key skills and tools or software where gaps are identified in their businesses, 32.4 per cent pointed to internet security and data protection, 26.2 per cent mentioned applications for creating and using notes, and 25.7 per cent highlighted the storage and management of files in an electronic environment.