Published on December 15, 2023, 4:22 pm
As the digital transformation continues to unfold, companies are showing a growing interest in bringing in outside perspectives to their tech teams. A recent trend suggests that businesses are seeking leaders from the technology, media, or communications industries to help them stay ahead in the race towards digital innovation.
According to executive search firm Spencer Stuart, around one-third of Chief Information Officers (CIOs) have joined their current firms after working in these industries. This indicates a desire to include diverse viewpoints and fresh perspectives within organizations. Ed Stadolnik, a consultant at Spencer Stuart, explains that companies often look externally because they want someone who can offer a new perspective that may not already exist within their own organization. Additionally, some companies just don’t have the necessary expertise and capabilities in-house to drive significant transformation.
Bringing in external hires also plays a crucial role in developing internal talent. Stadolnik highlights that these outside perspectives can help support the growth and development of future C-suite leaders by imparting specific skills and knowledge. Each situation varies, but the value of an external perspective is consistently sought after.
When CIOs join new organizations, they are tasked with leveraging technology to enhance company operations. A recent study by Gartner found that by 2024, companies expect CIOs to improve customer experiences by investing in data analytics and cloud technologies. These technological advancements are key for delivering better services and solutions.
Large technological leaps can influence a company’s decision to look beyond its industry for qualified CIO candidates. Boards of directors now expect incoming CIOs to bring proactive ideas and solutions enabled by emerging technologies like generative AI and other digital innovations. According to Stadolnik, sought-after CIOs are those who can bring these innovative solutions to the table.
In addition to technological aspects, companies must also consider how work is done when undergoing digital transformation. It’s not just about adopting new technologies; it’s about rethinking workflows and processes to fully engage in the new era of technology.
It’s important to note that not all tech investments are equal when it comes to addressing technical debt. Companies need to carefully evaluate and prioritize their investments in order to pay down technical debt effectively.
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