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If your business has grown to a point where outdated technology or practices affect your productivity, it’s time for an update.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.
You might be interested in these other posts about hiring a CTO:
– What to Look For in a CTO
– How to Hire a CTO
– 15 High-Level CTO Interview Questions
– What to Pay a CTO
Wondering when to hire a chief technology officer? Given the constant development of new technology in the world today, your company needs technical expertise in order to keep up with the competition. A chief technology officer, or CTO, will help guide your company in the right direction when it comes to using technology to meet your business objectives.
But when is the right time to hire a chief technology officer? If your company has any of the following needs, then it may be time to start searching for a CTO:
- You need new technology to get ahead: One of the ways a company can grow is by utilizing new technology. If your technical needs require more than a few advising hours per week, hiring a CTO will allow your company to better handle the technical advances it needs to stand out.
- You need industry expertise: There are numerous technological solutions available for your company, but if you lack the industry experience, it can be difficult—if not impossible—to utilize them well. A good CTO will be well-informed about current technical developments. This gives you access to cutting-edge solutions that will enable your company to improve your product, offer better end-user experience, and gain a competitive edge.
- Your tech teams need business expertise: Not only does a CTO have experience with technology, but he or she is also able to use technical strategies to support your overall business plan. A CTO can offer the business sense that your tech team needs in order to keep engineering and development in line with your goals.
- Your product or service needs some stabilization: Among the CTO’s duties is quality control. Making sure that your technology offers a seamless end-user experience is key to helping your company to grow. This falls under the realm of the CTO’s expertise, so hiring one will help your product be stable and user-friendly.
- ASAP: The CTO directs technical efforts within your company. This includes devising technical strategies, aligning them with your business strategies, hiring and directing engineers and developers, and playing a key executive role in the company. It is much easier to get your company headed in the correct direction right at the start than it is to change directions later on, so the earlier you hire a CTO to help you with your technical needs, the better.
It is important to note that in some cases, you might not need a full time CTO. For example, if your company need technical advice and coding reviews on an as-needed basis, then a technical advisor may be the right solution for you. On the other hand, when your company’s tech needs grow too large for the founders alone to manage, a CTO will allow you to keep progressing forward.
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.
What’s Your Why? Click here if you’re an employer. Click here if you want to make a difference in a new role.
“Wow! You guys hit a home run. Really like the candidates from Y Scouts.” – Adam Goodman, President of Goodmans Interior Structures
“If you need a passionate leader, the approach Y Scouts takes will attract the right talent.” – Kevin Fallon McCarthy, McCarthy Law
“The approach Y Scouts took provided us with unique candidates that fit with our culture.” – Matt Altman, Co-Founder & Principal of Sportiqe Apparel