In this CIO Minute, Craig Stephenson, managing director at Los Angeles-based executive search firm Korn Ferry, offers his rapid-fire take on how the CIO job description has changed over the past five years. In Stephenson's view: The CIO's purview keeps growing -- along with the position's clout.
For more insights from Stephenson on the changing role of the CIO, including the addition of CIOs to corporate boards, check out this companion video filmed at the recent MIT Sloan CIO Symposium in Cambridge, Mass.
How has the CIO job description changed in the last five years?
Craig Stephenson: The remit has grown, the responsibilities have increased [and] the touch points across the organization are significantly greater as well. So, if you take the operational aspects of the day-to-day to include infrastructure, resiliency, business continuity, those sorts of things, you [then] have technology strategy to include architecture and modernization efforts, where appropriate, on the digital side. You throw in data analytics, which some CIOs also have. Budgets have continued to increase, and I think it's based on the confidence level of CIOs the last couple of years. Tenure's up over the last couple of years. There seems to be stickiness for the function, and I think the function, in general, has actually increased in terms of importance. If they can get that customer piece down, I think they're very well positioned.