CIOs under pressure to drive revenue, study finds
15 January 2020 | 0
Nearly half (43%) of CIOs are measured on their contribution to revenue growth, according to new research from Logicalis. The 2019 Global CIO Survey found that the role of the CIO has evolved to become revenue and strategy-focused. Of the 888 global CIOs that participated in the study, 61% claim their time spent strategic planning has increased over the last 12 months.
While CIOs have become more strategic and responsible, budget constraints and higher security risks put them under pressure, it found. CIO’s spent 25% of their time on information and security compliance last year; 48% of respondents said that this was greater than in previous years. Maintenance of technology is still a major aspect of the role. CIOs spend on average 33% of their time focused on day-to-day management of technology.
Focus on strategy and revenue has left little room for innovation as 30% of CIOs said the time spent on innovation decreased over the last 12 months. Indeed, half of CIOs said their job satisfaction has declined over the last 12 months, and 29% said their work/life balance took a hit.
Andrew Baird, managing director, Logicalis Ireland, said the role changed as a result of digital transformation. “Not only is the position more important than ever before, CIOs now have company performance and business strategy on their list of responsibilities, as well as the management and maintenance of IT infrastructure within their organisation,” he said.
“The fact that businesses and CIOs are embracing this increased involvement in company operations and policies shows how crucial technology is for unlocking competitive advantage and boosting workforce efficiency. However, it must also be noted that this is having an impact on CIOs in terms of the amount of pressure they are under, job satisfaction and work/life balance.
“In order to capitalise on the benefits of digital transformation and reap the rewards that the latest technologies offer, organisations must ensure their CIO is fully supported and provided with the necessary resources to enable them to fulfil their day-to-day duties and contribute to the overall business strategy.”