I'm working on digital transformation for a traditional company. Challenges are from both culture (80%) and technology (20%, EDIFACT/COBOL is ok, not the worst part for us). Traditional companies can retain talent -- they definitely can compete with big tech if they want to. Especially in current tech talent market, you still have a good window to hire enough talents. A few key questions that you need to answer: - Can you get support from the top (board/CEO) to modernize HR to create competitive comp structure? - Can you identify real engineering leaders that can commit to the job? -- You can't just hire non-hands-on random middle managers. Good engineers don't want to work for politicians. - Do you have political stability to invest in the transformation long-term (3yr+ or more if you are more massive)?