For years the IT department owned the reputation as being the most siloed, anti-social and non-business savvy team within enterprises.
How times have changed.
Tech departments and leaders today are charged with everything from protecting the business from the latest online threats, to future-proofing the business to be tech-forward and innovation-led, and upskilling the receptionist, CEO and everyone in between to use the latest tools and technologies to perform at optimal efficiency. They're in charge or security, operations, productivity, and more - so it's no wonder the latest research shows almost 40% of tech teams believe CIOs and CTOs are the main contenders for the CEO role in their companies.
The challenge for businesses will be in communicating the work and value these CIOs and CTOs are delivering to the broader organisation. It shouldn't be just their own teams believing in their potential.
As businesses continue to prioritise digital transformation and tech-related skills when vying for business growth, CIOs and CTOs will play broader roles in directing the overall business strategy and deciding who is right to be on and off the bus. Meaningful internal communications and cross-departmental collaboration will be key to positioning the CIO/CTO most effectively internally, and empowering them to add most value to the business as a whole.
While only 8 per cent of ASX 200 CEOs currently come from a technology background, almost four in 10 (39 per cent) technology leaders believe CIOs/CTOs and Technology Directors are the main contenders for the CEO role. Comparatively, one in four (25 per cent) CIOs think the CFO/Finance Director is next in line for the top job, followed by 9 per cent who believe the COO/Operations Director is the main contender.