Hire Chief Technology Officers
What is a CTO? A chief technology officer, or CTO, is in charge of the technological aspects of a company. Here's a thorough guide on CTOs and how to hire one.
There are nearly 24,000 chief technology officers in the United States.
In recent years, technology has taken on a more vital and dominant role in the business landscape.
Companies of various industries and sizes have recognized the benefits of creating a chief technology officer executive position.
What is a CTO? How can a CTO help grow your company? Is it difficult to hire a CTO?
Continue to read to learn more about hiring a CTO, and how one can take your company to the next level.
TABLE OF CONTENTS:
What Is a CTO? What Does a CTO Do?
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No matter how senior your position is, we can find you the right person for the job. Here are types of managerial and software engineering placements we can take care of:
What Are Qualifications To Look For in a CTO?
When searching for a CTO, certain qualifications make an attractive candidate. Below we highlight a few of these attributes.
Well-Versed in Technology
This may seem obvious, but a CTO must have a complex understanding of various technologies and how they can be incorporated into a business. Since CTOS develop strategies for companies, they have to have the ability to determine what technologies might be best suited for different tasks.
Core to a passionate CTO candidate is that they have an appreciation for technology as a whole. They understand the impact it can have, as well as its limitations.
They also are well informed about upcoming trends and are up to date on current technologies.
A Business Background and Mindset
Yes, a CTO’s main responsibilities focus on technology. Critical to the job though is business management and operations. A CTO is a senior executive who supervises many employees and plays a critical role in the company’s overall business success.
CTOs use technology to create better business practices and standards. This is why an attractive CTO candidate should have a business mindset, and preferably business experience.
CTO candidates should have an understanding of finance, marketing, and business operations. They should understand how to use business assets most cost-effectively and beneficially.
Leadership and Vision
Since a CTO leads a team of employees, an attractive CTO should have ample leadership skills. He or she will encourage, inspire, and guide employees in company goals and directives.
Additionally, as a strong leader, a CTO should be visionary and innovative. He or she should not be afraid to test new things and explore a variety of options.
It is the CTO’s vision that will, in part, unify your technology-based teams. This is why candidates must be strategic and original.
When Should You Hire a CTO?
Hiring a CTO is a smart investment for your company when the time is right. As a rule of thumb, if your company relies extensively on technology as a way to communicate with and market to customers, a CTO is a position that is highly recommended.
If technology is not a substantial part of your business, a CTO might not be as beneficial. Hiring a CTO is expensive. You can still hire an IT manager or respective role to handle the limited technology aspects your company may have.
What Is the Cost of Hiring a CTO in America?
A CTO is a high-level executive position. CTO candidates expect to be compensated accordingly. According to Payscale, the average CTO salary is $165,946 per year.
While a CTO’s salary is expensive, the expertise and experience they provide can be invaluable to your company.
How to Hire a CTO
Like any senior-level position, the hiring process for a CTO can be quite extensive and challenging. It can be difficult to find the right candidate.
The key to finding your ideal candidate is marketing the job well and offering some form of incentivization. You want the right person to find your offer attractive.
Make it clear that you desire a long-term professional relationship and will take care of the candidate. You will compensate them well and show them how this can be a pinnacle moment in their career.
It is important to excite the candidate and demonstrate to them that this is the right company match for them.
Most importantly, do not settle. Interview and discuss the job with many candidates. See which candidates offer a new perspective and are strategic in their thinking. The best candidates think outside the box and are very original.
Where to Find CTO's?
Finding the right CTO can be a long process, but fortunately, there are solutions that can make such a process less daunting. Innova People offers effective outsourcing tools that will help you connect with the right candidates.
Its software makes it easier than ever to interview candidates and meet a great match.
What Should I Ask a Chief Technology Officer in the Interview Process?
The key here is to not only discuss their past experience and qualifications but what they hope to achieve in the role. It is critical to ask them about their goals, ambitions, and dreams. Ask them what they foresee for the company in the future and how they envision technology improving your business’s practices.
Should We Get a Full-Time or Freelance Chief Technology Officer?
Similar to deciding on whether to hire a CTO, determining whether a full-time or freelancer CTO will be influenced by how impactful and important technology is to your business.
If technology is an active part of day-to-day operations, a full-time CTO can be a powerful investment. If your company uses technology on a limited basis, a freelance CTO may be more attractive because the cost will be less.
Who Is Higher CTO or CIO?
Both positions hold tremendous responsibility and power. At one point in time, the Chief Information Officer was responsible for a company’s technological decisions. Since technology has become more prevalent, companies have decided to dedicate a whole executive role just to it.
Most would say that a CIO is higher level than a CTO. This is because a CIO oversees all communications and information for the company. If a company has both a CIO and CTO, these individuals will have to collaborate as they are both senior-level communications officers.
Is Vice President of Engineering Higher Than a CTO?
In essence, it depends on the structure of your company. There are companies where the VP of Engineering reports to the CTO and vice versa. When you create the roles, you will have to determine their jurisdiction and seniority.
Most importantly, you want the executives to work together and accomplish the main goal at hand, which is to use technology to enhance your company.
Find Your CTO Today!
If your company has decided on hiring a CTO, start the search today! What is a CTO? An individual who can propel your business.
With a strategic, knowledgeable, and enthusiastic CTO, your company can evolve and grow.
To learn more about the hiring process and how to connect attractive CTO candidates, please contact us today.
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