As a purpose based executive search firm, Y Scouts helps companies hire a Chief Technology Officer who fits their needs. But how do you know when to hire a CTO?
Choosing when to hire a CTO is an important task. There are different factors that influence whether or not it is time for your company to bring in a chief technology officer. In order to help you make your decision, here are four things to consider if you are deciding when to hire a CTO.
1. Your company’s technical needs are overwhelming
If you don’t have the industry expertise to follow through on a project, hiring a CTO could be beneficial. Hiring a chief technology officer can ease the workload of current employees. In addition to handling technology-related tasks, a CTO can help implement timesaving innovations in your field.
2. Your company needs a serious technology upgrade
If your business has grown to a point where outdated technology or practices affect your productivity, it’s time for an update. However, a large-scale technology upgrade can be daunting. A CTO can ease the transition while making long-term goals to keep your company up to date.
In many industries, your business needs to be on the cutting edge at all times in order to be successful. This is especially true for companies that work with new technology on a daily basis. If your company’s success depends largely on being up to date, the expertise of a CTO is invaluable.
3. Your current technology team needs a leader
A CTO has a foot in both the business and technology sides of your company. They understand the role an executive plays in your company, but they also understand what makes the development, IT, and research departments effective. If your company’s technology departments need business guidance, a chief technology officer is well suited for the role.
4. You want someone to push your business forward
If your business isn’t growing as much as you would like, hiring an innovative chief technology officer may be the solution. One of the main responsibilities of a CTO is utilizing new technology to grow a business. By hiring a CTO, your business can gain perspective and new practices that help you revolutionize the industry.
How did you determine when to hire a CTO for your business? Let us know in the comments.
Y Scouts is a purpose-based, performance-proven leadership search and development firm focused on transforming how people and organizations connect to work that matters. When you’re ready to hire a new leader, Contact Y Scouts. If you are looking for your next leadership role within a purpose-driven, performance-focused organization, please join the Y Scouts Leadership Community.
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