While businesses tightened their belts elsewhere, spend on digital and technology thrived during the pandemic

Shifts in company spending in 2021 by percentage

Increased

No change

Decreased

Funding of digital and technology initiatives

65%

25%

7%

Variable costs

26%

21%

52%

Fixed costs

18%

38%

43%

Physical footprint

8%

59%

29%

Number of FTEs in tech and digital roles

44%

40%

11%

Number of FTEs

19%

35%

43%

Increased

No change

Decreased

Funding of digital and technology initiatives

65%

25%

7%

Variable costs

26%

21%

52%

Fixed costs

18%

38%

43%

Physical footprint

8%

59%

29%

Number of FTEs in tech and digital roles

44%

40%

11%

Number of FTEs

19%

35%

43%

Increased

No change

Decreased

Funding of digital and technology initiatives

65%

25%

7%

Variable costs

26%

21%

52%

Fixed costs

18%

38%

43%

Physical footprint

8%

59%

29%

Number of FTEs in tech and digital roles

44%

40%

11%

Number of FTEs

19%

35%

43%

Increased

No change

Decreased

Funding of digital and technology initiatives

65%

25%

7%

Variable costs

26%

21%

52%

Fixed costs

18%

38%

43%

Physical footprint

8%

59%

29%

Number of FTEs in tech and digital roles

44%

40%

11%

Number of FTEs

19%

35%

43%

McKinsey, 2021