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<p>With automation, and enterprises rapidly adapting to the ‘digital world’, the role for experienced tech hires is seeing a surge in the job market. The pandemic has changed the way in which industries operate. From FMCG brands embracing technology in their online retail stores to the service industry going digital in its offerings, the need for an organization to strengthen its technology framework has become a pressing need. This has translated into the need to hire experienced ‘C’ level tech executives. As tech leader facilitators for leading companies, Purple Quarter in the last couple of years has continually witnessed a sharp upswing in C-Suite Tech Head requirements.Today every 3rd company is either in the process of Hiring CTO, CTPO or Hiring head of engineering if they don’t have one on board already. The steep demand has resulted in a competitive landscape. Since Q2 2020, the base CTO Salary Tech heads has jumped manifold in conjunction with the increased mandates for leadership roles. <p><img class="alignnone wp-image-1655 size-full" src="https://admin.purplequarter.com/storage/posts/67fdd7f91e1e4-Trends-2.png" alt="Image" width="942" height="495"></p><p>Here’s looking at the trends that are driving the demand for ‘C’ level tech hires across sectors:</p><h2><b>Increased Adoption of Digitization by Firms </b></h2><p>Technology adoption has led to more use cases now as most companies have shown exponential growth adopting the tech-first approach. We are witnessing a surge of high-growth companies that are making their competitors irrelevant through value innovation. As a part of value innovation, these companies are building on the powerful commonalities in the features that customers value.</p><h2><b>Rising Cyber Threats </b></h2><p>With work from home being the norm, workers and companies are prone to the risk of cyber threats. There is an increased awareness by companies to protect customer data and implement measures to prevent fraud and data theft. According to the 2022 SonicWall Cyber Threat Report, Cybercrime has evolved, making it harder for defenders to protect against, detect and stop attacks from entering their networks. With the ever-increasing stride of cyberattacks, the ways to breach and infiltrate systems continue to become more targeted and evasive. Thus, the need for an organization to bring on experienced tech leadership continues to remain crucial.</p><h2><strong>Increasing Number of Startups, Unicorns & Soonicorns</strong></h2><p>Startups have become the catalysts of change in the Indian economy. From bringing in innovative solutions in healthcare and digitalizing traditional business such as the humble kirana stores and the education sector, these startups have scaled rapidly and have attracted funding and guidance from the industry, thus making them unicorns & soonicorns. Serious push to B2B businesses like Edtech, Healthtech and Fintech due to the pandemic is creating more tech leadership trends. So far in 2021, about 850 start-ups have attracted a whopping $26 billion in funding. Almost 80% of these firms have been in the space of e-commerce, marketplaces, consumer services, fintech, EdTech and logistics. </p><h2><b>Governments’ Push for a ‘Digital India’</b></h2><p>While the government is actively implementing initiatives towards ‘digital India’ adoption, the sentiments were echoed collectively by the domestic tech industry. In a recently published pre-budget release, Experts feel that the Union Budget 2022-23 must look at accelerating the growth of the digital economy. They also agree that the government needs to make policies that incentivize technology product exports and encourage startups to ‘make in India’. This calls for organizations and startups alike to strengthen their tech teams that will be led by experienced ‘C’ level leaders. This will also ensure the firms' ability to influence the stakeholders on aspects pertaining to incentivizing tech adoption.</p><h2><b><img class="alignnone wp-image-1660 size-full" src="https://admin.purplequarter.com/storage/posts/67fdd7fc349fd-Trends-3-2-1.png" alt="Image" width="942" height="495"></b></h2><h2><b>The Rising Popularity of Digital Currency</b></h2><p>The rise of ‘cryptocurrencies’, talks about decentralizing finance and the recent announcement by the Union Government of India to introduce the digital rupee, all pointing towards a change in viewing currency through a digital lens. The successful adoption of this will depend upon many factors such as adopting blockchain technology to ensure safe transactions, increasing the customer base of digital transactions among others. This trend is yet another influencing factor for organizations to hire C-level tech leaders and drive this change.</p><h2><b>Technology Induced Consumer Behavior</b></h2><p>People cannot resort to older ways of buying. And it’s not just the pandemic driving this trend. The rapid adoption of mobile and the internet has resulted in technology-induced behavior which is another central point in driving the C suite trends. Customer preferences, ease of access and convenience, lead to the need for better products and an overall push to the technology ecosystem. For instance, people are increasingly preferring traveling by uber than purchasing their own vehicles. From a banking perspective, people don't go to traditional physical entities for loans. Companies like Navi offer hassle-free documentation at the click of a button. Even healthcare is witnessing a paradigm shift in remote-patient care. With consumers from different walks of life taking to digital, it becomes imperative for an organization to prioritize its C-suite tech leadership and be prepared to take on the wave.</p><h3><strong>Authored by Richa</strong></h3><p>For more information, please reach out to the <a href="Marketing@purplequarter.com">Marketing Team.</a></p></p>
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<p>With the booming technology industry, the role of the Chief Technology Officers(CTO) or CTO jobs has grown progressively and every entrepreneurial mind out there wants to grasp the best perks from the market. The CTO has scaled the corporate hierarchy to play a vital role in the advancement and success of the company. Moreover, the CTO is seen as the face of the organization. For any business or organization to evolve, a CTO provides technical advice and leadership which enables their organization to scale and interpret the organizational culture by joining hands with the team. As an integral part of any business or organization’s development, a CTO provides technical advice and leadership that helps the organization scale and interpret the organizational culture by joining hands with the team. He could be the technical co-founder, technology partner, or simply a technology expert with an entrepreneurial mind and experience. A CTO ensures that the product expansion is on track, meets the targets, follows budgets, and manages technical debt, ensuring a positive cash flow. 69.3% of businesses reported that 10–30% of their products fail to meet their customer requirements. This is the reason why onboarding the <a href="https://en.wikipedia.org/wiki/Chief_technology_officer">Chief Technology Officers(CTO)</a> become essential for a startup, accounting for their expertise in the technology and experience they hold into consideration. According to the state of the CTO survey 2020, 51% of the respondents joined startups as Chief Technology Officers. <h2><strong>Understanding the role of a CTO and its value addition to the organization</strong></h2><p> A CTO is the lead of a company’s technological needs and research and development (R&D). The short and long-term needs of the company to organize and make investments catered to reach its goals. CTOs are assigned to lead a startup’s Technology or Engineering departments by continuously optimizing the product and technology framework. A CTO is a prerequisite for technology advancements, which is critical for organizations that require continuous decision-making related to the field. In short, the CTO has the utmost difficult job of all. They handle the technological side of the business that is the foundation of products. Even if backed up with strong funding and product ideas, the tech team is responsible for turning ideas into reality. He is also responsible for determining which technology to use and weighs the pros and cons of each tech stack. </p><h2><strong>The three CTO personas</strong></h2><p> With the changing technology, CTOs need to fill in different shoes in the startup ecosystem. The role of the CTO has evolved into three primary personas: <img class="alignnone wp-image-2032 size-full" src="https://admin.purplequarter.com/storage/posts/67fdd80867669-cto-blog-3-02-2.png" alt="Image" width="942" height="495"> </p><h2><strong class="js ko">CTO as a Creator</strong></h2><p> Startups at the budding stage of a tech-enabled company need a technology leader who is essentially responsible for development and delivery of the product. A CTO stands at par with the company’s decision-makers taking the organization forward in the realm of technology. From building a team, product/service development to strategizing and operating when the startup is still in stealth mode. The authoritative structure, pillar of the startup, and the business enabler are expected out of a CTO here. At this initial stage, the CTO is responsible for : </p><ol class=""> <li id="0f9f" class="kv kw ii js b jt ju jx jy kb kx kf ky kj kz kn la lb lc ld gj" data-selectable-paragraph="">Ideation and Brainstorming</li> <li id="7edb" class="kv kw ii js b jt le jx lf kb lg kf lh kj li kn la lb lc ld gj" data-selectable-paragraph="">Market Research and Product Discovery</li> <li id="9c3e" class="kv kw ii js b jt le jx lf kb lg kf lh kj li kn la lb lc ld gj" data-selectable-paragraph="">Define Technical Architecture</li> <li id="b3aa" class="kv kw ii js b jt le jx lf kb lg kf lh kj li kn la lb lc ld gj" data-selectable-paragraph="">Estimating Timeline</li> </ol><h2><strong>CTO as a Nurturer</strong></h2><p> The startup advances to a mid-level stage when it receives some funding and is looking to develop its product idea further and hire leaders for cto jobs. The CTO’s role focuses on people and project management skills, also understanding how technology can affect the startup and how they can leverage the same to gain a competitive edge. A nurturer CTO needs to make sure that the development carries on like a well-greased machine. In this role, a CTO looks at : </p><ol class=""> <li id="5935" class="kv kw ii js b jt ju jx jy kb kx kf ky kj kz kn la lb lc ld gj" data-selectable-paragraph="">Building and Expanding teams</li> <li id="4bf0" class="kv kw ii js b jt le jx lf kb lg kf lh kj li kn la lb lc ld gj" data-selectable-paragraph="">Development and Launch</li> <li id="d244" class="kv kw ii js b jt le jx lf kb lg kf lh kj li kn la lb lc ld gj" data-selectable-paragraph="">Feedback Analysis</li> <li id="28a5" class="kv kw ii js b jt le jx lf kb lg kf lh kj li kn la lb lc ld gj" data-selectable-paragraph="">Plan Iterations</li> </ol><h2><strong>CTO as a Disruptor</strong></h2><p> In the third stage, where a startup has matured with a large-scale team and operations, the CTO’s role transcends to that of bringing change to the organization and sometimes the existing business model as such. The CTO helps plan new approaches with the next version to expand or scale the product further. They now need to dismantle or upgrade from old processes and existing systems that have served organizations in the past. The CTO needs to hire higher-level managers who come with their expertise and internalized processes from their past experiences. They also need to inject new thinking and energy into the technology team. The task is to rebuild and regroup the technology team and guide them with a new path that addresses new challenges that the startup is focusing on and the responsibilities of the CTO here include : </p><ol> <li>Update existing machinery</li> <li>Bring forth newer versions</li> <li>Scale the product with growing business perspectives</li> <li>Instill renewed confidence in teams</li> </ol><h2><strong>When should startups hire for CTO jobs?</strong></h2><p id="55d6" class="pw-post-body-paragraph jq jr ii js b jt ju jv jw jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ib gj" data-selectable-paragraph="">A forthright question at this point is “Should you hire a CTO?” To which a resounding “yes” is the answer! Several factors need to be considered while making a C-suit hire. Some of which include:</p><p id="f95b" class="pw-post-body-paragraph jq jr ii js b jt ju jv jw jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ib gj" data-selectable-paragraph="">What funding stage are you at? A CTO plays a versatile role in the different life cycles of the startup. The major reason behind this is startups need adequate time to share their vision and long-term plans to calibrate over time. This makes seed time an ideal phase to hire a CTO as they will help build the idea, product, and concept from ground zero.</p><p class="pw-post-body-paragraph jq jr ii js b jt ju jv jw jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ib gj" data-selectable-paragraph="">At the seed stage, the CTO is responsible for all things technical, that get the product up, and running. The CTO’s role will evolve into delegating, building Technology/product teams, and strategic planning. They are also responsible for creating the minimum viable product, which goes on to become the foundational base of the product.</p><p data-selectable-paragraph=""><img class="alignnone wp-image-2033 size-full" src="https://admin.purplequarter.com/storage/posts/67fdd80b422e4-cto-blog-3-03.png" alt="Image" width="942" height="495"></p><p id="831f" class="pw-post-body-paragraph jq jr ii js b jt ju jv jw jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ib gj" data-selectable-paragraph="">In the mid-level stage, a CTO steps in diverse roles from hiring engineers, tech talent to building the complete product development team, be it remote or in-house. They also take part in product planning and ensure that product development goes as planned. As startups scale and diversify their products and offerings, the responsibilities of a CTO keep evolving.</p><p id="d7ef" class="pw-post-body-paragraph jq jr ii js b jt ju jv jw jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ib gj" data-selectable-paragraph="">What type of CTO are you looking for? The role of a CTO advances rapidly in comparison to that of a CEO or COO. Given, the emphasis of having an official who can scale just like your company, their role branches out along with the company’s growth. The positive significance of being an asset CTO for startups is their high level of diversification in career and education. It is imperative to find a CTO who is passionate about their work, feels a strong sense of achievement, and has a future-forward outlook.</p><p id="5af7" class="pw-post-body-paragraph jq jr ii js b jt ju jv jw jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ib gj" data-selectable-paragraph="">In the current market scene for startups, compensation is a unique topic because the salary ranges depend on which stage of funding the startup is in, and how much equity is offered to the CTO. Henceforth, it becomes important to search for a CTO who is passionate about their role and would feel a strong sense of accomplishment when scaling the company. Above all, a strong CTO is worth every penny you pay them when you see the success and value addition they bring to the organization. Several startups balance their chief technology officers’ compensation by offering lucrative equity in the organization.</p><h2><strong class="js ko">Challenges of finding a CTO</strong></h2><p id="74e2" class="pw-post-body-paragraph jq jr ii js b jt ju jv jw jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ib gj" data-selectable-paragraph="">Hiring a CTO has often been a huge challenge for startups and even bigger organizations. The greatest hiring challenge is due to the rare talent supply and high demand for asset chief technology officers. They have a bigger role to play, a bigger team to manage, and more responsibilities to handle. Hence, the hiring process should not be taken lightly.</p><p id="66bc" class="pw-post-body-paragraph jq jr ii js b jt ju jv jw jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ib gj" data-selectable-paragraph="">An important skill that differentiates CTOs from senior developers or even technical co-founders is the leadership skills that they must possess. According to a survey conducted by STXNEXT in 2020, 78% of techies took five years or more to become CTO. 42% of techies at least took a decade to become a CTO.</p><p id="29ad" class="pw-post-body-paragraph jq jr ii js b jt ju jv jw jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ib gj" data-selectable-paragraph="">With the pandemic ensuring lockdowns, things have drastically shifted; hiring a C-suite position has become even more challenging. But the pandemic went on to also open doors towards a bulk of foreseeable opportunities; especially in the tech head search. Being in the leadership search for years, Purple Quarter too experienced initial pandemic-induced hiccups but eventually overcame the obstacles of remote recruitment by helping a mid-level startup locate the right CTO by understanding their challenges and requirements for the coveted role.</p><h2><strong class="js ko">Finding the Right Talent</strong></h2><article> <div class="l"> <div class="l"><section> <div> <div class="ib ic id ie if"> <p id="8939" class="pw-post-body-paragraph jq jr ii js b jt ju jv jw jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ib gj" data-selectable-paragraph="">One of the biggest dilemmas a manager faces is, should you endorse from within or look outside for new talent? Often, talent from outside will bring new ideas and strategies to the table enhancing the growth and trajectory of the company. Basically, new perspectives on approaching solutions with the latest technological expertise come with seeking talent externally. Startups might need to hire remote developers, and scrutinizing someone virtually is a task that comes with expertise. With enormously advancing technology, it becomes indispensable to hire an industry-best CTO with a product vision and expertise in handling, development, and product innovations.</p> <p id="1811" class="pw-post-body-paragraph jq jr ii js b jt ju jv jw jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ib gj" data-selectable-paragraph="">Having proven technical expertise is no doubt a top priority on the hiring manager’s list. A CTO may be required to oversee the company’s data, security, maintenance, and network. A CTO with full-stack technical knowledge can understand the potential issues that arise during development and offer solutions. CTOs should have a strong knowledge of the company’s specific business needs to create a viable framework that uses agile technology solutions to achieve the company’s goals.</p> <p id="5275" class="pw-post-body-paragraph jq jr ii js b jt ju jv jw jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ib gj" data-selectable-paragraph="">You need someone who can see the big picture by balancing a forward-thinking approach with details at hand, all of this while figuring out the right combinations and synergies for your organization. It’s the ambitious plan, strategic long-term goals, and out-of-the-box thinking that bodes well for an able Tech Leader. In the years ahead, the CTO’s role will continue to straddle the line between internal and customer-facing technologies. With remote working becoming the de facto due to the outbreak of coronavirus, technology leaders and businesses that utilize technology solutions efficiently will be successful.</p> <p id="fc1b" class="pw-post-body-paragraph jq jr ii js b jt ju jv jw jx jy jz ka kb kc kd ke kf kg kh ki kj kk kl km kn ib gj" data-selectable-paragraph="">Struggling to find the right CTO for your Organisation? Purple Quarter can find the ideal CTO with its bespoke approach. Find more at <a href="https://www.purplequarter.com/contact-us/">https://www.purplequarter.com/contact-us/</a></p> <h3><strong>Authored by Richa</strong></h3> For more information, please reach out to the <a href="Marketing@purplequarter.com">Marketing Team.</a> </div> </div> </section></div> </div> </article></p>
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<p>As businesses throughout the world ramp up their technology usage in the aftermath of the COVID-19 outbreak, India's need for technology and software professionals has skyrocketed. However, hiring across sectors dropped during the middle of this year. Still, the tech job market bounced from the pandemic-induced downturn and many technology companies have been in full expansion mode. According to the Indian Staffing Federation (ISF), the country's demand for IT professionals has doubled in the last 14 months as most global corporations rush to digitize and automate their operations. <h2><b>Tech Hiring Statistics in India</b></h2><div id="color-highlight">The immediate recruitment for freshers and others saw an increase in 2021, particularly in the areas of Artificial Intelligence, Data Science, Cloud Computing, Information Security, and Blockchain. Notable IT services and outsourcing firms in India such as Tata Consultancy Services and Infosys have been ramping up hiring to meet large client orders. <strong>According to the National Association of Software and Services Corporations (Nasscom), India's five largest companies are expected to hire 96,000 people this year.</strong> Nasscom stated that India's IT and business process management industry employs roughly 4.5 million people with a scarcity of software engineers, data scientists, and other professionals. <strong>In July, the annual growth rate for IT software rose by 212%, followed by ITes with annual growth of 46%.</strong></div><p> The present pool of digitally skilled workers in India is insufficient resulting in a talent shortage in the software services sector. Tech organizations are in a hire-or-poach mentality, resulting in sky-high pay, with some even hiring non-engineering graduates to fill the gap. The tremendous need for tech skills isn't limited to recent graduates. In May this year, the 0-3 year band group experienced a 22% increase. The mobility of senior professionals was particularly strong, with a double-digit rise in the 13-16 year (+11%), 8-12 year (+8%), and 16+ year (+10%) categories. Leadership hiring is booming, many tech-driven organizations are incorporating pioneered technologies and require a leader to drive engineering teams. According to industry watchers, these recruiting trends are likely to continue for the next three years, with IT firms forecasting a skills shortage for at least the next two quarters. What firms are looking for now, are innovative ways to hire people, including non-engineers. <strong>As a tech head executive search firm, one of the most distinct trends Purple Quarter is noticing is the compensation metrics benchmarking. To allure Senior Tech talent, domestic firms rife with funding are matching compensation at par with that of Silicon Valley, offering lucrative packages, ESOPs now. </strong> </p><h2><b>Post-Pandemic Tech Hiring Challenges</b></h2><p> The pandemic had revolutionized the focus of an organization on customers and employee satisfaction. Furthermore, new abilities that are compatible with technologies are required for more efficient procedures. As workers require new skills to perform their current jobs, it becomes more challenging for HR leaders to quickly find the talent to meet the requirements. Indeed, organizations must ensure that they have the proper capabilities embedded in new-age technologies to adapt and take steps to ensure constant learning and reskilling of their employees with the relevant skillset. However, the tech industry's main difficulty would be obtaining and retaining qualified candidates, especially now that the job market is improving and voluntary employee churn is on the rise. Hiring the right talent by analyzing the skill sets and stability is now a long-term investment for tech-driven companies. The challenge will be enormous when it comes to an in-house tech leader search. </p></p>
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<p>The Covid-19 pandemic has taught us that business and technological strategies are inextricably linked. The firms which have digitally matured, or are on the brink, are vigorously incorporating cutting-edge technologies post-pandemic. The CTO has become at the forefront of transformation, there is now a renewed focus on the larger corporate environment and the CTO role has evolved dramatically in the last year. <h2><b>Future Transformation of CTO </b></h2><p> While the function of the CTO is a staple of the executive team at many large corporations, it differs depending on where you look. Even in its most frequent form, Chief Technology Officer, the title, can have a wide range of functions and responsibilities depending on the workplace. And, regardless of how the job description is stated, the role's major priorities appear to constantly evolve. Tech acting more than an enabler, the CTO is dually playing the internal as well as an external role; owning the technology aspects of the company’s customer-facing products and services (especially more in tech-centric firms but also other industries). Today’s CTOs don the hat of a chief strategy officer as practically every organization aspires to achieve digital transformation and create tech-driven consumer experiences. </p><div id="color-highlight">The ability to harness advanced technologies (AI, big data, and machine learning, for example) to establish a strategic course for a business may be more crucial to the function than in-depth technical knowledge of hardware and code. The tech visionaries are expecting that CTOs may originate from sectors other than traditional IT, like R&D, data science, or sales, as the job description grows. Eventually, versatility and flexibility will be crucial intangible traits because the function of a CTO progresses at the same rate as technology. </div><h2><b>What will be most relevant to a CTO in the future?</b></h2><p> As a leader, CTOs must actively manage their team and find a system to communicate anything tech-related to the board of directors or other key stakeholders. Nowadays, CTOs are expected to be as knowledgeable about business as they are about technology. Create a community and support system. Being a CTO is a very collaborative profession, rather than an individual contributor role. In the future, a CTO will be defined based on the network they are having. Hence, developing a community is mandatory to handle the role effectively. Learn how to concentrate on and absorb crucial information about upcoming technology. A couple of years ago it was a cloud; now it's digital and someday it'll be quantum. Keeping updated and working to stay relevant is another major key for all the CTOs to achieve success. Improving "softer" abilities should be a priority for the CTOs. Patience and the ability to accept change, live with ambiguity, and operate under pressure are among them. </p><h2><b>Bottom Line</b></h2><p> The role of CTO, unlike certain other roles, never stays the same. It's continually evolving as per the time and the scale of tech innovations. Since technology is increasingly becoming the prime mover for a company's success, the CTO's function will become diversified. A Chief Technology Officer's future appears bright, they will continue to play a critical role in maintaining business agility and continuity as we maneuver through the pandemic taking stock of the situation and rebuilding for better and more efficient processes. </p><h3><strong>Authored by Pratheek. V</strong></h3></p>
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<p>The startup landscape has radically evolved transcending boundaries in the last few decades. As of today, we have over 800+ Unicorns globally shifting mainstream startup dialogues across the US, Singapore, India and all over. Funding is paramount and credible investors and VCs are in abundance for businesses cracking the code of solving for essentials and the masses. What was offset by Silicon Valley’s service-based companies, transitioned to the product tech giants like Google, Microsoft. These entities became the forefront solution providers and made Technology ‘cooler’, promising and futuristic. Buoyed by their success, more tech product companies mushroomed with the challenge to deliver valuable services and products relevant to their target markets. Regionally diverse predicaments had locally sensitive distinct solutions, all driven by Tech; like Southeast Asia with dense populations areas focussed on digitisation, in Africa the focus on greatly on fintech with varying lending entities while the US, being ahead of their tech curve, has had more B2B and SaaS platforms along with solving deep tech services. Irrespective of regions, it has been the tech that came to the fore in solving critical long-pending issues. And when pandemic overhauled systems, economies and enterprises, Technology answered large scale solutions with a steady and reliable response. We can comfortably say that Covid19 played the ‘Cupid’ for technology. Going digital, remote operations, virtual presence, education and more became possible with robust and innovative tech-driven solutions. Today, conversations around Artificial Intelligence, Robotics, Machine Learning, Blockchain are rooted in startups having real-world applications. They transform industries, change livelihoods and birth new possibilities. In the present-day IPO shower, the most noticeable companies going public have had hyperscale growth years fueled by disruptive technology-backed products, services or research. These companies possibly renewed their customer experience, improved their performance metrics, automated, created the right product-market fit, gained accurate insightful analytics and more; all tapping predominantly on Technology. As technology aggressively permeated sectors, the need for effective, able Tech Leaders to frontend tech verticals became paramount. And what we have today is an inexorable demand for Tech Leaders. A pre-pandemic study had hinted that by 2023, most firms will hire CTOs for harnessing disruptive technologies such as artificial intelligence (AI), blockchain and robotics. But post-pandemic, the demand for CTOs and Tech Leaders exploded. Existing businesses were pivoting tech-first and newer entities are jumping on the tech bandwagon. In the absence of a capable Tech Leader at the helm, firms struggle to consistently innovate, dwindle in competition and lag at emerging technologies. Businesses are aggressively seeking the most suitable CTOs aboard but the challenge to find Senior Talent who would leverage disruptive technology is very real. Organisations, despite their critical mandates, lack the proper approach towards the Tech Leadership search. A Tech Leader has to be mapped very intelligently. They are responsible for a stake worth of business decisions, scaling teams & operations and front-ending an adroit strategy. Accuracy in profiling the right tech leader is imperative! You have to know the leader, know their trajectory, how much Tech Landscape have they solved, at what point did they solve the Tech problems, recent or in early point of their career, what was the immediate & overall impact, the company fitment and so much more; these are all precisely gauged with smart and thoughtful parameters devised inhouse, by Purple Quarter. Our singular focus is on CTO search with authentic processes to deliver proven and most accurate results. While pandemic, despite being the great bane, has invariably pushed the envelope on Senior Tech hiring. Companies are now more flexible to remote hiring and employment. We can conveniently have a veteran talented Tech Leader working out of one timezone with their team and the company that is based on another timezone. The constriction of seeking only region-specific talent is foregone. Companies have easier and wider access to an extensive talent pool and deserving candidates have countless options at hand not bound to limited options of the region. We can adeptly have a company based out of Nigeria looking at a Tech Leader from Israel or even a firm in Egypt sourcing talent pool from India. It has opened newer and wider doors for an inflow of talent. The traditional search process has evolved, it is diverse and mutually beneficial to both parties. More flexibility, agreeable employment terms minus the hassles of relocation, country-specific regulations and permits are on offer. The scope of senior tech hiring is now boundless, companies have opened up their criteria, candidates have more than enough lucrative avenues, there couldn’t be a better time than now to engage in the perfect Tech Leadership hunt. <i>Authored by Roopa Kumar, Founder & COO, Purple Quarter</i> </p>
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<p>The line between Business and Technology is increasingly becoming blurred. Digital Innovation and adoption have left no other choice. In this evolving landscape, the roles of a Chief Information Officer (CIO) and a Chief Technology Officer (CTO) have exceedingly changed. Let’s take a closer look at how this new environment has given more power to these two highly sought-after profiles. <b>CTOs have a bigger role to play than ever before</b> If the proposition that ‘Technology is King’ is true for an organization, then it is safe to state that a CTO plays the role of ‘Kingmaker’. The fact that this position was a fringe, a decade ago, is a testament to the fact that business operations have taken a 360-degree turn today. The role of CTO has become such a key for organizations that even the White House appointed its very first CTO, Aneesh Chopra in 2009. In most companies, a CTO runs an engineering team while also keeping the customer, end product, and revenue growth in focus. They also play a crucial role as technical evangelists. Cutting-edge technologies are ruling businesses, the SaaS companies are changing the landscape of business; at this crucial time, a Chief Technology Officer in an organization has to make sure effective incorporation of advanced technology to compete. <b>CIOs are no longer in the backseat</b> The roles of the Chief Information Officer and Chief Innovation Officer have merged. Traditionally, the role of a CIO would be to compile and interpret data on corporate technology. Once the gathered data becomes relevant information, the CIO would implement procedures on strategic planning, operational efficiency, and more. If we have to draw a strawman, a CIO would be a person who takes a backseat when it comes to running the business. However, the modern era has changed the rulebook. Catalyzed by the fact that businesses need to grow and adapt at a faster rate than ever before, a Chief Information Officer takes on the internal role of a Chief Innovation Officer. The CIOs have to upgrade their skills, pace up to the innovative ideas of the time and also make sure that the organization is coherently evolving. <b>The contrast between a CIO and CTO</b> One of the stark differences between these two profiles is that a CIO generally plays a more introspective role within the company whereas a CTO functions from an external standpoint. A Chief Information Officer monitors the day-to-day operations; while, the Chief Technology Officer has to view the bigger picture and structure the frameworks, by incorporating the latest technologies or modifications and update the existing applications. In larger organizations, it would be safe to say that the CIO manages IT infrastructure and the CTO manages the business’s technology architecture. However, when resources are unavailable, a CTO generally absorbs the responsibilities of a CIO. Coming to the skill requirements, the technical knowledge of the CTO should be off the charts in multiple domains. If you are building one of the world’s best tech companies, you should ideally have one of the world’s best CTOs. However, a CIO doesn’t need to be that tech-savvy. CIOs need to possess organizational skills, managerial skills. It is often the case that CIOs are chosen to be employees with experience within the company while it is common to hire a CTO externally. And thus, it becomes imperative to hire the most suitable CTOs and Tech Leaders with not just the right acumen but mapped by the right profiling, one who is in tune with the organization’s vision, strategy and goals. With years of industry experience and singular domain focus, Purple Quarter understands the ‘hit or miss’ criticality of the right Tech Leadership hire for businesses. <h3><strong>Authored by Pratheek. V</strong></h3></p>
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