What Is A CIO And What Are His or Her Core Responsibilities?
vCIO stands for Virtual Chief Information Officer. In general terms, a company’s CIO is an executive resource that is responsible for the management, implementation, and usability alignment of information and computer technologies to achieve the company's business objectives. In addition, a CIO's job is to innovate, collaborate and balance the IT budget and motivate and lead the IT staff. A CIO day to day main focus is to manage the infrastructure for business operations and accordingly advise the officers and executive leadership regarding key information technology trends.
A CIO competency requires a unique combination of business, people, and technology related skills. This set of skills makes a skilled CIO invaluable for any organization. A skillful and experienced CIO pays close attention to the challenges the company face and not making every conversation about technology.
Why Is ACIO An Important & Invaluable Resource?
Just as it isn’t prudent to run a business without solid legal or accounting advice, it’s also not prudent to run an organization without solid IT advice. Your CIO work with you on budgeting and planning for IT, as well as protecting your business from lost data, downtime, ransomware, disgruntled employees, regulatory action from non-compliance and a whole HOST of problems that can result from poor IT planning and management.
Today a CIO not only oversees the existing infrastructure, but their unique skillset ideally enables them also to help achieve the company’s vision, strategic goals and business objectives.
The company’s CIO brings the strategic advantage that allows all information technology policies to originate from a single source. This enables CIO and the company as a whole to identify technological needs, as well as streamline the implementation of various projects and operational procedures.
Advantages of Virtual CIO (vCIO) vs. Employed CIO
There are numerous advantages of having a vCIO vs hiring one:
Salary: Considering the average cash compensation for a CIO and size of the company the most common salary for a CIO ranges from $190,000 to $250,000+
Retention: The average tenure for a CIO ranges from 4 to 4.5 years depending on the industry.
Hiring Challenges: In recent years we have seen an increase in strong demand for IT talents. Today most companies facing the challenges of finding, hiring and retaining IT talents and specially experienced CIOs.
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