With an increasing demand for experienced, executive-level technology expertise, many small- to mid-market companies are choosing to employ a fractional CIO<\/a> (Chief Information Officer) instead of hiring full-time. These leaders can provide tremendous value to an organization.<\/p>\n Several drivers compel companies to consider a fractional CIO. Those might include leveraging technology for growth, acquisitions and mergers, regulatory and compliance changes, stabilizing IT environments, mitigating risks, or other business transformations. A fractional CIO can help determine the current state, identify gaps and develop a roadmap to meet future goals.<\/strong><\/p>\n Before you engage with a fractional CIO, it\u2019s important to clarify roles, responsibilities and objectives, along with determining how this leader could benefit your organization.<\/p>\n A fractional CIO is a senior leader who provides ongoing strategic guidance, offers thought leadership, leads technology development and optimization, and provides other tailored services aligned to your business\u2019s needs. He or she helps to optimize your budget while still meeting objectives and helping your company realize its key performance indicators.<\/p>\n In addition, this leader offers a unique outside perspective, offering best practices in all aspects of technology, including emerging technology, regulations and security threats.<\/strong> A fractional CIO can often bring a broader perspective and experience levels, complementing a company\u2019s internal capabilities.<\/p>\n Today\u2019s business environment is rapidly evolving, with an increasing reliance on technology. Companies can end up at a competitive disadvantage without a dedicated IT professional to help navigate technology challenges.<\/p>\n Even when an organization has dedicated IT technicians, they may have limited capacity or capability to develop a strategy and set the IT agenda. When your company is facing growth opportunities with limited systems capabilities or capacity, a fractional CIO will help you identify those gaps and develop a remedy plan.<\/strong><\/p>\n There are a host of reasons companies may consider bringing on a fractional CIO:<\/p>\n Competitive pressures, outside threats, market opportunities, and global and social forces all play into technology positioning for your company. Your company will have an advantage with an experienced fractional CIO in your toolbox to call upon both during times of crisis and when sailing is smooth.<\/p>\n In 2020, 80 percent of North American managers and 78 percent of worldwide leaders reported skills gaps, according to the Global Knowledge 2020 IT Skills and Salary Report<\/a>. Whether it\u2019s the speed of technological change outpacing skills development, a lack of training programs or professionals who are unable to keep up with rapid changes, the cost of a gap in your IT expertise can be high.<\/p>\n The report states, \u201cThe number one impact of skills gaps is increased employee stress. Other costs include lower quality work, decreased ability to meet business objectives, increased project duration and a decline in innovation.\u201d<\/strong><\/p>\n An effective CIO is a change agent. This leader remains close to innovation in today\u2019s business environment, using their skills and deep expertise as a foundation for decision making. In the small- to mid-market space, organizations often have a talented and capable IT team who can execute and manage projects efficiently. A fractional CIO will ask probing questions to help develop an effective strategy and plan for moving forward.<\/p>\nWhat Is a Fractional CIO?<\/h2>\n
When Should My Organization Consider a Fractional CIO?<\/h2>\n
1. Uncertainty about the direction of technology:<\/h3>\n
2. A gap in IT expertise:<\/h3>\n
3. Lack of strategic visioning and leadership:<\/h3>\n