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<b>Gaps you've spotted in the way leadership hiring was conducted and how you wanted to bridge them?<p> Roopa Shares, Technology is incessant in nature, it's constantly evolving and along with it evolves the entire tech ecosystem which means the company, and the people associated with it including the tech leaders and hiring evolve. We are all aware of the important piece that Silicon Valley is. If you were to look at Technology hiring in Silicon Valley, it's very interesting because people are absolutely transparent in nature when they are discussing the role and the person also has complete information about the company. You can actually figure out everything that you need to know, so there is zero ambiguity. People are able to shake hands and say let’s work together. Now let's zoom back to India - the Indian startup ecosystem started in 2008 and you were to see Technology leadership hiring happened in 2013 and 2014 when there was a mad rush of funds that was infused into India which made technology leadership hiring learning. We also learned during that process actually how to go about hiring a technology leader. Two things came out of looking at these two sides of the spectrum; one was for obvious reasons - our USP, which is to ensure that there is complete clarity when a person needs to pick up a specific role. How do we do it for both sides of the audience? One is candidates henceforth referred to as <em>Prospects</em> and number two are the companies that are C<em>lient Partners</em>. There has to be complete clarity between these two parties, think of it as two people getting married into one Vision. This is almost like a marriage of sorts. The second USP that we have is to be absolutely happy about what we do also in terms of how we have managed to keep this going as a Process; we focus on the three P’s - <em>Product, People</em> and <em>Process</em>, throughout the journey. With several years into what we're doing, we managed to keep the absolute process similar right for stealth mode to maybe an IPO-based company. So these two things actually fuel what are you doing today and going back to what you asked me if the gaps were - of course in terms of how there was absolute ambiguity; so we covered for that second piece that hiring continuously changes how we learn as we are even today we learn in terms of how do we managed to get a C Level Leader. We are talking about new text ads so this whole piece is not as simple as it looks from the outside so I wouldn't say we fixed all the gaps, it's a process, and we continue to fix the gaps. <b>Initial experiences in the sector - How did you manage to find your footing in a field with so many potential landmines?</b> The opportunity was for us to figure out how to do this hiring, so interestingly what we did is, we didn't go after signing up for roles. We spent close to 6 months meeting people, meeting these Technologists; we were prepared for the opportunity statement for them to say that "I don't think people know how to hire", including ourselves including a lot of other search firms when it comes to leadership level in India. If you were to look at it, most of the leaders I approached in a manner “Hey, this is Roopa here, I want to meet you for a coffee without a role in question but you know let's chat about this", they end up wondering and were clueless about existence and about me and what did I want meeting them. An opportunity statement was presented, most of these Technologists were super happy to look at solving this along with us so we didn't do anything different. We didn't reinvent the wheel or come up with parameters; even today we say that we have these brilliant parameters that are working for us. Initially, we started with the 10 parameters that most searched firms use. When we went out in the market these parameters helped us look at a different way of hiring as well so I would say they constituted for us to put in a <b>“Behavioral Metrics Model”</b> which has about 83+ parameters, also coins the pace of Technology agility along with behavioural traits and that kind of help us look at it from a very different perspective. It does not just mean that these parameters help us determine whether you are a good technologist or not a good technology leader. It just helps us understand what it is that you really want to do in life, what is your real passion, what kind of impact you want to create or maybe want to create wealth or maybe you just want to be a poster boy for a specific company. We get into the nitty gritty’s of it by understanding these various concepts of people. It is definitely high risk because when you meet somebody in 2018 versus you meet them today, they have already evolved and on the other side, when we looked at the client partners, interestingly this happens with most companies well as you are scaling, the need for technology leadership continuously changes. We try to bring everything on one page to calibrate and say this is what we are looking for. It is definitely high risk. If you look at it this way, we are the bridge between both parties. There is an equation of trust from both sides of the spectrum and we build relationships from both sides. When I say a relationship please don't take it loosely because a relationship means a lot of work which people have to actually honour. We bring these two together and say this is the right leader for your company and companies believe in that too. So you will have to build this between both of these parties so this is something that we do on a daily basis and we learn a lot while doing this as well. I am not saying we get it 100% right, we do have to learn from making those mistakes and re-learn and reinvent the wheel ourselves. So it is a difficult job indeed. </p><h3><strong>Authored by Roopa</strong></h3><p> For more information, please reach out to the <a href="Marketing@purplequarter.com">Marketing Team.</a> Listen to the entire interview here, </p></b>
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<p>It wasn’t that long back when top-rated companies were vying with each other to hire the best CEO. Fast forward to the present economy where technology dominates, and one in which the CTO (Chief Technical Officer) has taken the center stage. Hiring CTO with the right talent can be nothing short of an unending odyssey in a country like India. The demand for a CTO is a recent phenomenon in the Indian job market and when there does seem to be an avenue of opportunity, companies and recruiting bodies hit a dead end when it comes to finding the right talent. Companies often face limitations due to a dearth of experience and leadership capabilities. Hiring CTO is as tough as discovering a rare pearl in an oyster. But, if you do, then there’s nothing that can hinder your firm from shuttling towards success. There are several reasons for this, of course. Technology leaders and industry experts across the globe agree on the fact that CTOs are the connecting factor between firms and their customers. As a C-level executive in the upper echelon of a company’s organization, on par with the Chief Commercial Officer, Chief Operating Officer, and Chief Financial Officer, the CTO is majorly responsible for spearheading a company’s innovation and technology growth story. The CTO of Chicago-based digital consultancy company SPR, Matt Mead, explains that CTOs bridge technology implementation and product strategy in a way that you don’t see in a lot of organizations today. As the year’s progress with new and innovative technologies consistently entering the market, the CTO’s role calls for constant updates and improvements. A symbiotic relationship exists between the CTO and technology which needs to evolve accordingly. In today’s digital age, CTOs aren’t just tech administrators who handle the backend of a business’s functioning; they are <a href="https://www.purplequarter.com/leadership-search/">tech leaders</a> on the front lines, envisioning, and spearheading newer and improved technological processes to help write a company’s success story. The CTO (Chief Technical Officer) not only understands technology but expresses it through the language of business. The CEO (Chief Executive Officer) is the face of the company and the CTO lends a helping hand to him/her when it comes to the technical aspects of the organization. Unless the technical strengths of a company could be understood by all, it simply goes down the drain. Steve Wozniak and Steve Jobs were both essential to the success of Apple, but Wozniak was smart enough to realize that he was not the frontman for the company; he was the genius behind the products. Every company needs a strong technological edifice, and for that, one needs stalwart CTOs.<em>The CTO is primarily responsible for transforming big ideas into sound strategies and products that can be easily used by customers.</em>As companies become tech-savvy, the CEO will inevitably perform the role of a CTO as well. The CTO needs to align technology with the business strategy and bridge any gap between the two. In the future, CEOs—like the CTOs of today—will have to understand how technology is going to affect their business and the broader scope of it in general. CEOs have to be business-focused. They need expertise in productivity, strategy, revenue growth, and security. It’s no surprise that present generation CTOs already have these skills imbibed in them.<em>CTO must possess both technical and business skills, which are necessary for leading organizations further into the digital economy.</em>The Role of Chief Technology Officer is the highest position of responsibility within a company that leads the technology or engineering department. He develops policies and procedures to enhance products or services focusing on the client base. The CTO also develops strategies to increase revenue and performs a cost-benefit analysis and return-on-investment analysis. <h3><strong>Four Steps to </strong><strong>Hiring CTO</strong> <strong>for Your Startup</strong></h3><p> Finding the right CTO isn’t a herculean task in today’s job market. We’ve listed out a four process approach to get the job done: </p><h3><strong>Be specific and chart the company’s road map</strong></h3><p> Be unabashed about the responsibilities your desired hiring CTO will have to fulfill. If it’s going to be a demanding role, then you need to be honest and say so. Define the current position of your organization, where it needs to be, and why being a part of that journey can be a fulfilling experience professionally. Have a candid conversation about this when you interview potential candidates, or you can even state them in the job description. Trust us, this is the ideal hook to attract the right kind of candidates. Leadership capabilities are one of the most sought-after skills. Your CTO will be managing the tech department of the organization. To meet this requirement, the ideal candidate should ideally have prior experience in a similar capacity. They need to think on their feet and tackle situations with the best strategies. They must assist in actualizing the vision of the company. They need to be chameleons who can adapt to their ever-changing role as per the company’s policies, vision, and business models (as and when these upscale). Efficient use of technological resources and implementation of new infrastructures to scale a company’s profit margins is some of the winning qualities that define the Role of a Chief Technology Officer ideally.<strong>Sell the role</strong> Finding the right CTO is like unearthing a gem. You will face stiff competition from several companies vying for the same candidate. You need to avoid selling yourself short in this scenario. Work your salesman skills and woo the candidate into your Firm. List out the company’s USPs during the interview process. Talk about the different opportunities and benefits that come with the job. The more perks, the better! Discuss key points like equity distribution and autonomy. Talk about all these factors and stress what makes your company better than the rest. <strong>Cultural Fit</strong> Being the right cultural fit is invariably the most important factor to look out for in a CTO. Having the right technical skills is essential, but so is being able to adapt to the new company culture. This is especially important when you are recruiting a person from another country. After all, if a person can’t handle diversity and inclusion, other competencies are a waste. Moreover, no one wants to work with an unfriendly snob. In these matters, different factors come into play—issues related to dialect, having the right knowledge databank to match, emphasis on helping expand a company’s profit margins, and visibility across geographies. For example, the technological requirements that hiring CTO needs to have in a developing economy like India may not be the same as the needs of the same in a developed nation like America. Company cultures are different, and a CTO needs to be able to fit within the same—open to adaptability. <strong>Map the key stakeholders – The Intersection between employers and potential employees</strong> If you are aiming at global expansion, looking for global partnerships, M&A, and looking to scale your profits big time, then hiring the right talent is the only choice you have. A key stakeholder will look for a person who is a tech whiz but who is also well versed in the business side of things. It’s important to ensure during the recruitment process that the candidate is on the same wavelength as the key stakeholders. It’s an intersection between employers and potential employees. Key stakeholders should partner with the right candidates for the right role. It should be a seamless fit like a brick in the wall. You know you’ve got the hiring process done right if you manage to match the right talent with the key stakeholders’ expectations. <a href="https://startuptalky.com/find-hire-right-cto-startup">This article was a mouthpiece by Roopa Kumar, CEO & Founder of Purple Quarter for Startup Talky.</a></p></p>
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<p>“You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete” <strong>– Buckminister Fuller</strong>This statement holds true in the technology industry now more than ever with the changing roles and responsibilities. Today, a seasoned tech leader is not only an asset but also the face and goodwill of the organization. There is no organization that is not impacted by technology, be it tech-first or indirect inclusion, technology has become the essence of the business landscape. Business evolution has led to an emerging role that has captivated many technologists of today – Engineering Site Leaders. This is the new shining tag everyone is eyeing across the globe.<strong>What has changed in the ecosystem for the emergence of this role?</strong> The simple answer is the <strong>skills needed.</strong> Until a few years ago, companies would recruit individuals with minimal engineering with the main focus on operations, business background, sales or product knowledge. This scenario no longer holds weight as companies in today’s time are seeking a combination of technology and business know-how. Companies such as B2C SaaS-based actively hire site leaders with engineering backgrounds. <h3><strong>Expertise</strong></h3><p> Engineering background has become a mandate for the role, with 70% experience in engineering and the remaining 30% can comprise operations, product knowledge or any other business domain. Industry experts are witnessing an upward trend in the search and appointments of Site Leaders in the past 3-4 years. This increasing demand is leading to higher skill sets among the candidates formulating a reason to upskill from time to time. </p><h3><strong>Why does an entity look for a Site Leader?</strong></h3><p> Businesses that are <strong>Tech Product based</strong>, inevitably lookout for qualified personnel to be placed as site leaders. Back in the day, the world looked at India as an operations-only/ service-centric employee market due to its cheap labor and easy access to high volumes. This trend has now evolved with India being a Research and Development arm for MNCs and businesses across the globe. The reason is still the same, along with additional benefits of accelerated innovation; growth, high-caliber engineers, and technology inclusion among the masses. About <strong>80% of the companies that hire engineer site leaders</strong> prefer to hire someone who is based out of India, an individual who has built, has the ability to build, lead or manage teams in India, this is to ensure that the leader is in sync with the diversity, demographic understanding and culture of the locals. When it comes to companies headquartered in the US that are looking to place a tech leader in India, they have a few of their own policies to be fulfilled. They invariably seek individuals who have had past exposure in the US or have recently moved to India. Also, companies seek to hire someone who is willing to relocate and have at some point managed teams in India. This is of paramount importance. While in some companies the position of Vice President of Engineering, Senior Vice President and Head of Engineering is synonymous with an Engineer Site Leader, most tech companies like Amazon, Google and Intuit among others have clearly defined roles for a site leader. In other instances, in companies that have a clear tech hierarchy, it is seen that a Vice President of Engineering reports to a Tech Site Leader and he/she in turn reports to the Chief Technology Officer or Chief Technology Officer. A company may choose to have various combinations or clearly defined levels of Site Leaders depending on the demand, the volume of business, scalability of the project and product at large. There are two basic bifurcations – <strong>Vertical or Product based site leaders.</strong> A vertical engineering site leader is someone who looks after a vertical of the company, there may or may not be other numerous junior site leaders under him. A <strong>product-based engineering</strong> site leader on the other hand deals with the entire product line of the company including relevant teams.[image_with_animation image_url="484" image_size="full" animation_type="entrance" animation="Fade In" hover_animation="none" alignment="" border_radius="none" box_shadow="none" image_loading="default" max_width="100%" max_width_mobile="default"] </p><h3><strong>Roles & Responsibilities of a Site Leader</strong></h3><p> Although every Engineering Site Leader has different roles and responsibilities to deliver, some of these hold true irrespective of the industry, verticals, products or services offered: </p><ul> <li>Build the Tech Org at the India office, acquire and retain talent. Should have a huge passion for innovation and technology.</li> <li>Build a powerful team that can take full ownership of critical problem statements</li> <li>Formulate a long-term strategy for technological development, product layout plan, a roadmap for new product development, plan and formulate the company’s long-term engineering practices.</li> <li>Work closely with Product Managers & Customer Success to define and deliver new products and enhancements.</li> <li>Keep up to date with the latest technology skill sets to best match the technology strategies with the business goals.</li> </ul><h3><strong>Why hire a site leader?</strong></h3><p> [image_with_animation image_url="487" image_size="full" animation_type="entrance" animation="Fade In" hover_animation="none" alignment="" border_radius="none" box_shadow="none" image_loading="default" max_width="100%" max_width_mobile="default"]This matrix defines the why and how a site leader ensures the company aligns its technology strategies with the business goals. </p><ul> <li><strong>Customize the existing product based on geography:</strong> With time companies expand and grow beyond the geographies of their home markets, many times due to demographic changes the management has to customize their existing product to better custom their new market needs and demands, the best eg of this is what Google and Amazon have done to their products and adoption of technology to best-suit their new geographies.</li> <li><strong>New product launch:</strong> Companies such as Carousell and Haute have appointed site leaders to tap into new markets by launching new products. Another expansion strategy for companies is to enter existing markets with new products and offerings to cater to the growing demand among the masses and site leaders take charge of the same.</li> <li><strong>Increase operations efficiency:</strong> Apart from launching new products, companies are also required to manage and increase the scalability of the existing operations. One of the primary responsibilities of a site leader is to increase this operational efficiency and deliver successful results. Some of the companies that have done this are JLL, NTT Ltd, Amazon and Apple among others.</li> <li><strong>Diversification:</strong> An important aspect of a business is to diversify itself by adding new products and offerings to the existing model to grow and expand into larger markets. This calls for leaders that have in-depth knowledge of the market, technology and have handled large-scale projects in the past.</li> </ul><p> “Information technology and business are becoming inextricably interwoven. I don’t think anybody can talk meaningfully about one without talking about the other.” <strong>- Bill Gates</strong> </p><h3><strong>Geography</strong></h3><p> Site Leader profiles can be country or region-specific based on the mandate or appointment requirements. At times, a Site Leader’s role may also encompass more than one region given the company’s objectives and strategies. For instance, Amazon based on its large volumes calls for region-specific site leaders, the company has various leaders placed in Chennai, Bangalore and in other cities that report to the country-specific site leader. </p><h3>Appointments</h3><p> In 2021, we have seen a surge in the mandates for a Site Leader. Purple Quarter has matched and successfully located Site Leads across companies such as California-headquartered revenue operations platform, Clari, AI-powered voice solutions for healthcare, Suki, Helpshift and Ally (Microsoft). Based on the current trend in hiring tech site leaders, it looks promising that the future will only see this trend grow leaps and bounds. When companies are adopting a tech-first and product-first approach it is only imperative that the demand for technology leaders will forever be on the rise. What the leaders have to be mindful of is that with the changing demands they will have to continuously upgrade and upskill themselves to stay ahead of the game. The roles and responsibilities are changing as companies are becoming tech-savvy. Good leadership is essential for gaining a competitive edge. To aid businesses and companies find the right site leader or tech head, <a href="https://www.purplequarter.com/contact-us/">reach out to us</a>. Finding the perfect synergy, our expertise will bridge the gap between tech companies and tech leaders. </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>Right from clan heads to the mighty warriors and kings of medieval times to today’s pathfinders; the evolution of a leader has documented incredible changes. A pertinent question for anyone in business today is - are leaders born or made? With numerous exhaustive views, two core components in this response remain - inherited traits and learned qualities! According to psychologists, there are a few basic traits that imbibe in the personality of a good leader such as empathy, emotional stability, thoughtfulness, and kindness among others. While traits like communication, business integrity, strategic outlook and objectivity can be mastered with time and experience. In the means of building a sustainable business, what is more important - a good team or a good leader? It may very well appear to be a chicken or egg-first question. When asked about a team, the answer usually revolves around the leader, it is a leader who defines the morale, culture, and spirit of the team. When the same is questioned to a leader, he/she credits the team’s collective efforts - that, right there, is a mark of a true blue leader. Leadership comes in several guises, and each is as important, unique, and valuable as another. That being said, every leader dons additional roles from time to time depending on the need of the organization and the hour. <h3><strong>1. Examiner </strong></h3><p> As an essential part of the team, a leader more often than not has to step out of his/her comfort zone to look at the wider and more objective view of things at hand. In doing so, they take a meticulous yet future-proof outlook. As an examiner, the leader needs to approach the situation with an open mind, to view the larger goals of the business and the company with the best strategic solution. Essentially an examiner may seek to make harsh changes that may not be easily welcomed but becomes necessary. </p><h3><strong>2. Segmenter </strong></h3><p> A leader moves with a flawless ability to dissect any given situation in a manner that every element can be clearly discerned across varied perspectives; individual or collective. To structure the company in a way where it functionally and strategically aligns with the overall goals, a leader as a segmenter is most needed. He/she prioritizes, escalates, or relooks when internal teams or related parties are unable to solve problems from a common ground. </p><h3><strong>3. Maverick </strong></h3><p> One of the most tricky roles for a leader is that of an open-minded disruptor. Driven by success and an output-driven approach, a maverick leader is passionate about fulfilling objectives duly. For their teams or followers, they not only lay down a clear strategic path but make them feel empowered to act autonomously. History has shown many a maverick mindset leaders have disrupted the scheme of things innumerable times leading by examples. </p><h3><strong>4. Coach</strong></h3><p> Being a coach, and a mentor is only the natural trait many leaders undertake; the significance of which cannot be emphasized enough. A coach selects the right person for the job, making sure that it is the right fit. Coaching leaders work around three main aspects - collaboration, support, and guidance. They are highly focused on bringing out the best among their team members and paving the way for future leaders in making. </p><h3><strong>5. Salesperson </strong></h3><p> It should be no surprise that leaders have to take up the fence-first role be it of a salesperson or similar, from time to time. It is not necessarily the selling of a product or service, but it has to do with the ability to show and convince the team to take up something new, exciting, and challenging and not fall into the trappings of the familiar and easy. As a salesperson, the leader sells the vision and ideas of the company, they here are the persuaders and most potent influencers. More so, for leaders it acts as good practice should one get too comfortable. </p><h3><strong>6. Inquisitor </strong></h3><p> A leader is an inquisitor by default. Asking harsh and probing questions is important for a leader to make the tough decisions pertaining to overall betterment. To strategically connect the organizational goals with that of the team, needs in-depth knowledge and experience, which only a suitable leader can provide. </p><h3><strong>7. Changemaker</strong></h3><p> A leader should be the changemaker not only for teams or members headed but also for the company or business at large. It is the continuous efforts, vision, and empathy that call for a change in the attitude, approach, and final results. Being a changemaker is never easy, especially when change is differently received by people and parties concerned. It is often the hardest pill to swallow and may question the existing and the accepted, but leaders have to be the catalysts in implementing progressive changes at varying levels. </p><h3><strong>8. Initiator</strong> </h3><p> An initiator takes the first step and embarks on the novel or out of the ordinary. Who better than a leader to be an initiator? The edge an initiator gives a leader is that an initiator does not always need approval. To be the pioneer, and to keep up with the ever-changing landscape, a leader who stands apart and makes the first move is the one who will essentially develop the team/organization to the next level and most likely be the harbinger of change. Every leader has a default type but they don these hats from time to time based on what the situation demands. Sometimes a combination of these work wonders, whereas other times maybe just one definitive stand proves effective. Leadership roles seldom come in black and white, but rightful leaders endeavor to make the best of every situation thrown at them. </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 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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