The modern office of the Chief Information Officer (CIO) has undergone a significant transformation, evolving from ‘basement IT’ days to becoming a crucial strategic advisor to CEOs and boards of directors. Despite this progress, a recent study revealed that CIOs are frequently pulled away from strategic and innovative initiatives to manage security crises hands-on.

In a conversation between Foundry’s VP of Corporate Marketing, Rachael Ferranti, and Executive Editor of CIO Communities, Lee Rennick, two senior IT leaders we discussed balancing the dual roles of leadership and execution. This dialogue is part of the “State of the CIO 2024” report, highlighting today’s CIOs’ challenges and opportunities.

The Dual Role: Strategist and Practitioner

One of the major pain points identified in the study is the CIO’s struggle to balance their roles as strategists and practitioners. Addressing security threats was their number one distraction, pulling them away from strategic or innovative tasks,” Ferranti noted. This constant juggling act can be incredibly frustrating for CIOs who aspire to play a more significant role in their organization’s strategic planning.

Rennick emphasized the increasing importance of leadership skills among CIOs. “There’s a greater awareness of what it means to be a leader,” she said. Companies are investing more in leadership training and development, ensuring CIOs have the tools they need to succeed in these dual roles. However, the report also acknowledges the challenges posed by the demanding workload and the constant need to address security threats.

Collaboration and Security Challenges

The conversation also touched on the growing collaboration between Chief Information Security Officers (CISOs) and CIOs. “Over the last year, there has been greater collaboration between the CISO and the CIO, or in some cases, the CIO taking on the security remit,” Rennick explained. This collaboration is essential, given the persistent shortage of skilled security professionals. “One CIO I spoke with said it took 168 days to hire a security manager,” she added, highlighting the difficulties in staffing effective security teams.

These challenges underscore the need for CIOs to be adaptable and resourceful. Rennick shared insights from an interview with NATO’s CIO, Manfred Boudreaux-Dehmer, who described the unique challenges of leading a team of CIOs from 31 partner countries. “He paints the vision of the North Star and ensures everyone follows it,” she said. This ability to provide a clear strategic direction while managing day-to-day operations is crucial for modern CIOs.

The Importance of Visionary Leadership

In discussing leadership, Rennick and Ferranti explored how CIOs can balance their roles as visionaries and executors. Boudreaux-Dehmer’s approach to leadership at NATO involves setting a clear vision and empowering his team to achieve it. “You need to collectively come up with your team and define a vision that is in line with the business vision,” he explained. “Then you need to paint that on the sky and refer to the North Star at all times.”

This visionary approach is complemented by the practical aspects of leadership, such as fostering a supportive and psychologically safe environment. “You need to support an encouraging, open, and very supportive environment where everybody is enabled to give their very best,” Boudreaux-Dehmer added. This balance of strategic vision and hands-on execution is what makes effective leadership in the CIO role.

The Strategic Role of the CIO

The evolving role of the CIO also involves closer collaboration with senior leadership and a more significant presence in the boardroom. “79% of CIOs reported having a closer relationship with the CEO and the board of directors,” Ferranti noted. This alignment with senior leadership ensures that IT initiatives support broader business goals. “It’s about collaboration with the C-suite and the board. It’s IT for business sake, not IT for IT sake,” she emphasized.

John Penard, CIO and CISO at Duo Financial Credit Union echoed these sentiments in a recent interview. “I spend as much time with our senior leadership team talking about business development as I do with my technical team on what we need to do from a technical side,” he said. This shift reflects the broader trend of CIOs becoming integral to business strategy and decision-making processes.

The Future of the CIO

The role of the CIO is increasingly pivotal in the modern business landscape, evolving far beyond its traditional confines. With CIOs now serving as key strategic advisors to CEOs and board directors, their influence on corporate strategy is profound. This year’s study reveals that while CIOs are making significant strides in driving innovation and strategic initiatives, they are often pulled away by the urgent need to manage security crises hands-on.

The dual role of the CIO as both a strategist and a practitioner is demanding. “Addressing security threats was their number one distraction, pulling them away from strategic or innovative tasks,” noted Rachael Ferranti, Foundry’s VP of Corporate Marketing. This constant tug-of-war between innovation and execution requires CIOs to be highly adaptable and resourceful.

Collaboration with other C-suite executives has become critical to the CIO’s role. “The relationship between CIOs and other members of the executive team is more critical than ever,” Ferranti emphasized. Ensuring that IT initiatives are aligned with the overall business strategy is essential for achieving organizational goals. The State of the CIO 2024 report found that “79% of CIOs reported having a closer relationship with the CEO and the board of directors,” underscoring the increasing strategic importance of the CIO role.

John Penard, CIO and CISO at Duo Financial Credit Union highlighted the shift in the CIO’s responsibilities: “I spend as much time with our senior leadership team talking about business development as I do with my technical team on what we need to do from a technical side.” This shift reflects the broader trend of CIOs becoming integral to business strategy and decision-making processes.

Leadership skills are also becoming more crucial for CIOs. “Companies are investing more in leadership training and development, ensuring CIOs are equipped with the tools they need to succeed in these dual roles,” said Lee Rennick, Executive Editor of CIO Communities. This investment in leadership development helps CIOs build strong, adaptive teams capable of navigating the challenges of a rapidly changing technological landscape.

The future of the CIO involves balancing these diverse demands while fostering a culture of innovation and strategic thinking. “Innovation is at the heart of what we do. As CIOs, we must always be on the lookout for emerging technologies that can drive our business forward,” said Penard. CIOs can maintain a competitive edge by staying informed about the latest trends and continuously seeking new ways to leverage technology.

In conclusion, the modern CIO must be a visionary leader and a hands-on practitioner. By fostering collaboration, investing in leadership development, and leveraging innovative technologies, CIOs can navigate the complexities of their roles and drive their organizations toward greater success. As we move further into 2024, the strategic importance of the CIO will only continue to grow, making their contributions critical to the success and security of their organizations. “The modern CIO is a visionary leader and a hands-on practitioner, guiding their organizations through the ever-changing landscape of technology and business,” Ferranti concluded.