Thinking of hiring a CIO?
Given that you’ve chosen to start reading this blog, it’s likely that your answer to the above question is “yes” – or at least a strong “maybe”. And if so, you’re joining a fast-accelerating trend.
As a business owner, you’ve probably got a million balls in the air all the time. You’re busy growing your company, driving innovation, and bringing on new team members to do the same. As your company grows, however, there comes a point when the wise business owner realizes that they just can’t do it all.
A seat at the table
One of the easiest elements of your business to hand over is often your internal technology department – enter the Chief Information Officer (CIO).
Until recent years, data security was never a particularly top-tier priority for board members. The role of the IT leader (or the CIO where it existed) was to fix servers, reboot glitched computers, and to generally keep the IT wheel turning.
Fast=forward to today’s data-centric world, a seemingly endless string of cybersecurity attacks has helped CIOs earn a seat at the table as boards look to manage enterprise risks. CIOs are now tasked with grappling a plethora of new tools to stay ahead of business needs and build new capabilities.
How you’ll know it’s time to hire a CIO:
1. Your company has an IT department – seems obvious, but it’s the key component here. The moment you have a technology team or an IT department, it is time to hire a CIO. If you have enough internal work for several members of an IT staff, that staff needs specialized leadership that can make important decisions for the team and ensure that your company stays up to date. You don’t want to risk that team falling behind and hindering the development of the rest of your business.
2. Your company relies on legacy systems and outdated tech. One of the primary duties of a CIO is to maintain both your IT processes and equipment. If your tech is several years old, and you’re starting to feel that you’re operating significantly slower than your competitors - stop. It’s time to bring in a CIO, who’s role it will be to continuously upgrade your technology across the whole company - and train staff to use it.
3. You’re experiencing rapid growth – during a high-growth phase, a CIO is a wise investment. By bringing in an expert to manage the growth of your IT systems and processes, you’ll ensure that you operate as efficiently as possible before, during, and after your period of rapid growth. You’ll soar above your competitors who’re bogged down by systems which no longer serve their needs – or their customers.
Final thought: what if I can’t afford it?
If you can’t afford a full-time CIO, you can still seek out an expert in the field to provide part-time assistance to your team. Over a 12-month period, you could receive part-time engagement to provide direction and oversight of your IT systems – expertise provided on the basis on a maturity program designed with your objectives at the centre. If you’re ready to modernize your existing systems or reinvent them entirely, it might be time to stop holding back and start invest in your company’s future.
A note to leave you with: a recent McKinsey report1 states that eight in 10 companies have taken steps to become digital enterprises, which would not be possible without CIOs leading the charge.
Can you afford to get left behind?
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