The Future Skills Every CIO Will Need, Part 2

By Retained | November 22, 2024

Key Takeaways from this article:

Effective people management goes beyond traditional team leadership; it requires emotional intelligence (EQ), empathy, and building strong relationships across the organization.

CIOs will continuously push the boundaries of what’s possible, encouraging their teams to think outside the box and explore new ideas.

A data-driven mindset is essential for success in the role of CIO.

By optimizing the user experience and adopting a customer-first mindset, CIOs can help their organizations stay ahead of customer expectations, driving greater engagement and long-term success.

In our last article, we looked at three crucial skills, business acumen, effective communication, and cybersecurity, as future skills that every CIO will need to lead their organization into the future. In part two, we will explore four more skills that will define the next generation of tech leaders. These are skills that any leader should be looking for in their next CIO – let’s dive in.

People Management and Emotional Intelligence

In an era of vital collaboration and cross-functional teams, managing and leading people is a fundamental skill for any CIO. Effective people management goes beyond traditional team leadership; it requires emotional intelligence (EQ), empathy, and building strong relationships across the organization. A CIO with high EQ can better understand their team’s needs, concerns, and motivations, enabling them to create a positive work environment that fosters innovation and high performance.

“The short-sighted or near-sighted ‘visionaries’ leading companies and teams are holding their people in check — in many ways it’s analogous to getting stuck in traffic behind a driver that is only able to see the car in front of him and is unwilling or unable to see farther down the road,” Explains Walter Carter, President of THG Advisors and International Best-Selling Author. Compare that to the drivers who see way up the road and are quick to see emerging patterns enabling them to easily avoid traps and hazards – wouldn’t you prefer following that leader?”

Moreover, CIOs work closely with other C-suite executives, such as the CEO, CFO, and CMO, to ensure that technology initiatives align with broader business strategies. Strong communication and interpersonal skills are essential for building trust and collaboration among key stakeholders.

Data-Driven Decision Making

In today’s data-rich world, CIOs need to harness data for decision-making more than ever. Modern organizations generate vast amounts of data, and a CIO will leverage this data to gain insights, predict trends, and make informed decisions. Whether using data analytics to optimize operations, enhance customer experiences, or identify new business opportunities, a data-driven mindset is essential for success in the role.

“Data management – master it,” says Krishna Venkatesh, SVP of Saas Software Engineering, Aline. “Creating and identifying a system of record will help build a cohesive platform.”

Furthermore, as AI and machine learning evolve, CIOs must stay ahead of the curve, integrating these technologies into their strategies to drive automation, personalization, and improved decision-making.

Pushing Innovation and a Forward-Thinking Mindset

The CIO’s role has evolved into that of a key innovation driver. In addition to managing existing technology, the CIO scouts for new, disruptive technologies that can give the organization a competitive edge, which requires a forward-thinking mindset, a willingness to experiment with the latest tools and methodologies, and the ability to foster a culture of innovation within the IT department and beyond. Krishna reminds us that the ability to innovate and adapt as technology and needs evolve is critical.

“Innovate and Adapt: the tech landscape is constantly evolving,” says Venkatesh. “It is key for the leader to champion innovation and bring the entire organization on this journey.”

Innovation is not just about technology; it’s about finding creative ways to solve business problems. A vital CIO will continuously push the boundaries of what’s possible, encouraging their teams to think outside the box and explore new ideas. This might involve implementing agile development practices, adopting open-source technologies, or experimenting with blockchain or Internet of Things (IoT) solutions. For Renee Pearson, GVP & CIO, Rollins Inc, it’s not only about pushing the boundaries, but managing the pace of innovation and change.

“CIOs of today and in the future need to effectively manage the pace of technology innovation with the ability of their business to adopt and change, as well as their willingness to assume risk,” explains Renee Pearson, GVP & CIO, Rollins Inc. .

Customer-Centric Approaches Are a Must

Finally, a customer-centric approach is essential for a CIO in today’s digital age. Technology is at the heart of the customer experience, whether it’s through e-commerce platforms, mobile apps, or digital customer service channels. Prioritizing and designing the end-user experience to ensure technology initiatives enhance customer satisfaction and loyalty is a primary focus for CIOs.

By adopting a customer-first mindset, CIOs can help their organizations stay ahead of customer expectations, driving greater engagement and long-term success.

You need to prioritize UX and end users,” emphasizes Venkatesh. “Every task and application should be viewed from the end user’s lens and optimized with that view. Far too many times, applications are built in a way that is too cumbersome to use and proves difficult to navigate. There are several companies that do it really well, like Apple and Netflix, for example.”

The Evolving Role of the CIO – Looking Ahead

The CIO role has evolved into a strategic and influential position. While technology expertise remains essential, a successful CIO must possess a broad range of skills and values, including emotional intelligence, data-driven decision-making, a focus on innovation, and a customer-centric approach. By mastering these areas, along with what we covered in part one of this series, today’s CIOs will not only excel in their current roles but will also be well-positioned to navigate the challenges and opportunities of tomorrow.

The Future Skills Every CIO Will Need, Part 1

By Retained | October 1, 2024

Key Takeaways from this article:

Today’s CIOs are tech managers and strategic business leaders who understand the business’s goals, challenges, and market dynamics.

In addition to strong communication skills, being able to collaborate in and across business functions with various leaders and partners is something every CIO should bring to the table.

Cybersecurity is not just about implementing firewalls and encryption, it is taking a proactive approach to risk management, identifying potential threats, assessing vulnerabilities, and developing contingency plans.

The face of business technology is changing rapidly, and so is the role of Chief Information Officer (CIO). This crucial position goes far beyond technical and technological expertise – an effective CIO will blend their technological expertise with strategic leadership, soft skills, and vision. As technology becomes increasingly integrated into every aspect of business, CIOs today and in the future will blend digital transformation and innovation while aligning technology initiatives with business goals. So, we’re asking the question – what does this skillset look like?

This article will explore the essential skills and values that will enable a vital CIO to thrive – from the voice of some of our exceptional CIOs.

Strategic Vision Meets Business Acumen

An essential quality of a successful CIO is the ability to think strategically and align technology with business objectives. Today’s CIOs are tech managers and strategic business leaders who need to understand the business’s goals, challenges, and market dynamics. Successful CIOs require strong business acumen, an understanding of key performance metrics, and the ability to anticipate how an organization can leverage technology to create a competitive advantage.

“Understanding the business and technology is key – a CIO has to have a firm understanding of the business,” explains Krishna Venkatesh, SVP of SaaS Software Engineering at Aline. “At my previous company, every single employee on the technology side would spend three to five days on the floor (be it finance, warehouse, distribution, etc.). This resulted in better solutions being delivered. To a leader, a solid foundation of stakeholders and end users will help craft better solutions.”

A forward-thinking CIO will also look beyond immediate IT needs and focus on long-term value creation. Whether streamlining operations, enhancing customer experiences, or developing new revenue streams, the CIO must envision how emerging technologies like artificial intelligence (AI), cloud computing, and data analytics can drive business growth and innovation while maintaining a forward motion.

Vision and Kindness win out, but a leader must be willing to decide, set a priority, and move the team. We get paid to get things done, not be busy,” adds Walter Carter, President of THG Advisors and International Best-Selling Author.

Effective Communication is Everything

In today’s fast-paced environment, the ability to lead change is critical. CIOs are agents of change who guide their organizations through digital transformation, often involving restructuring business processes, rethinking customer engagement models, and fostering a culture of innovation. This is no easy feat for CIOs, as digital transformation can be met with resistance from employees and stakeholders accustomed to traditional methods.

“CIOs must have strong business acumen and communication skills to connect technology to business opportunities and strategic outcomes,” says Renee Pearson, GVP & CIO, Rollins Inc. “This is important not only for securing investments but also for articulating measurable outcomes and business benefits in a meaningful and impactful way. CIOs that excel in this will have credible and trusted relationships with business leaders across the company.”

In addition to strong communication skills, being able to collaborate in and across business functions with various leaders and partners is something every CIO should bring to the table.

Any CIO needs strong collaborative leadership skills to get the best from their teams, individual contributors, and partners – these are highly sought-after skills,” adds Carter. “This skill set includes “leading sideways” with the other members of the C-suite as well as “leading up” to the CEO and Board. High-stakes communication skills are also highly valued.”

It doesn’t stop there for a CIO—communicating your vision in a fast-changing environment that inspires and motivates teams and individuals is a must. CIOs can’t rely on what worked yesterday they are agile and able to adapt, particularly as technology, company needs, and new opportunities evolve.

“Effective communication spans teams, vendors, stakeholders, and end users. After understanding the current landscape, articulating a vision will help unlock synergies from funding to marketing the new product. There are numerous examples of great products never seeing the light of day due to a lack of communication,” says Krishna.

Walt Carter also warns that what worked yesterday or even today may not work tomorrow for leaders, particularly those in the C-Suite.

“For communication, the old playbooks are valuable but not sufficient in an ‘emerging tech’ dominated world – new plays and the ability to design plays as new patterns emerge is critical with vision at the top – being able to frame and re-frame as needed to communicate what you’re seeing in the context of the company and the marketplace – business savvy, not just tech-savvy.”

Cybersecurity and Risk Management Expertise

As organizations become more reliant on digital infrastructure, the importance of cybersecurity and risk management has skyrocketed. Today, a CIO understands the cybersecurity landscape and can implement robust security measures to protect sensitive data and ensure business continuity.

“New threats emerging can still be largely mitigated by doing the basic blocking and tackling really well – backup and recovery, master data management, log monitoring, identity management across the entire stack, etc.,” Adds Carter. “New opportunities can best be seized by engaging the imaginations and creative skills of the people in your ecosystem. Likewise, new threats can be blocked by leveraging a bigger team. This is not a recommendation for consensus following – it is a way to LEAD and get to reality as quickly as possible AND THEN identify constraints on the potential solution set and deal.”

Cybersecurity is not just about implementing firewalls and encryption. A successful CIO will take a proactive approach to risk management, identifying potential threats, assessing vulnerabilities, and developing contingency plans. This plan involves securing the technology infrastructure and educating employees on security best practices. Moreover, with the increasing regulatory requirements around data privacy, such as GDPR and CCPA, CIOs must stay up to date with compliance obligations and ensure their organizations remain compliant.

The Evolving Role of the CIO – Looking Ahead

Any successful CIO will need to possess a broad range of skills and values, including strategic vision, change leadership, effective communication, and cybersecurity expertise. These areas are poised to set the next generation of Tech Leaders apart. As we look towards the future, these are skills any leader should be looking for in their next CIO – but that isn’t all!

Be on the lookout for part two, featuring the remaining skills that CIOs will need to succeed.