I always enjoy seeing how executive teams evolve over time. For example, how positive or negative the tone of voice is, or whether decisions are being made for pro-active or reactive reasons, or how long- or short-term the current planning horizon is, or how more or less diverse the boardroom is (don’t get me started; that’s another blog entirely….)
Another interesting dynamic is which roles on the executive board are waning in power and influence and which roles are gaining. There are signs of a real shift now taking place, with chief information officers (CIOs) coming to the fore once again.
The reasons for this are several:
This trend has only been accelerated by recent events, which have seen boardrooms mandate for rapid digitalisation. For example, KPMG’s annual CIO survey reveals that despite the ravages of 2020, 43% of global CIOs predict a further budget increase, and 45% plan to up the headcount of their teams in the near future.
“So what?”, you might ask. Well, the consequence of this shift is that executive teams need to accommodate for a new level of CIO importance, both from a budgetary and a cultural standpoint.
Boards, executive teams and CIOs must be ready to evolve
Are CIOs, their boards, and their wider organisations ready to face this new challenge? The answer appears to be not entirely. Our research from this year revealed that 39% senior IT decision-makers cite a lack of in-house knowledge and skills as a barrier to digital transformation, while a quarter of respondents cited a lack of senior level buy-in.
According to research by Gartner, CIOs will soon be as responsible for changing the organisation’s culture as the Chief Human Resources Officer is today. Nonetheless, CIOs cannot be left solely responsible for driving digital transformation in their organisations. They need support from a forward-thinking senior team and a business culture ready to embrace change.
Technology is advancing at a breakneck pace and continues to disrupt business-as-usual in the enterprise world. Some organisations are seizing the opportunity to pivot and become more agile, while others are dragging their feet to keep up.
Get in touch with us for help with solidifying your place in the former category.