One major change brought about by the technology revolution and Industry 4.0 is the evolution of the role of the Chief Technology Officer. As digital transformation and technology adoption take centre stage, new people and skills are needed in every Enterprise level business to manage these initiatives. Many companies have found that the traditional C-suite roles such as CEO, COO and CFO are no longer enough when it comes to executive leadership of their business.
In the explosion of new job titles and roles, CIOs and CTOs are joined by CISOs (chief information security officers), CAOs (chief analytics officers), CDOs (chief digital officers) and CMTOs (chief marketing technology officers).
According to Gartner’s CEO Survey 2017, 58 percent of respondents said growth was their top business priority this year. Coming in at 31 percent, technology priorities have never been so high on the agenda and, particularly interestingly, almost twice as many CEOs plan to build up in-house technology (57 percent) as those who intend to outsource their tech. The CTO is poised to take up the reins.
This extract from our whitepaper, The CTO Comes of Age, considers the changing role of the CTO in the recruitment sector.
Reinternalisation of IT
This trend - named the reinternalisation of IT - is all about bringing information technology back to the core of the enterprise with businesses having to develop new technology skills to succeed. Top of this agenda is the role of the CTO in all its new iterations.
In the digital era, the CTO or CIO has renewed importance to a business’ competitive advantage. Companies must develop new-era technology skills and capabilities. The reality is that digital change will cause disruption throughout the business at a level which can’t be accommodated within existing frameworks. A new way of thinking and a new board level skill set will be needed to drive this change.
SaaS continues to dominate
New software-as-a-service (SaaS) platforms from disruptive suppliers like Volcanic have fast emerged as the new way of working. We saw this revolutionise our TV consumption habits - and now as-a-service models are taking over everything from our daily coffee fix and beauty routine (think Nespresso and Birchbox) to our work life. With no interruption to service or budget surprises, monthly arrangements at a fixed fee are becoming the norm.
CTOs should seize their moment
With knowledge of systems, security and how the future may unfold, the CTO is starting to stretch the boundaries of how technology is used in recruitment. There's no better time for the IT specialist to step up and claim their place at the board table.
To read our full whitepaper looking at the role of the CTO in the recruitment industry, click here.