The evolution of the CIO: an evolving role
Technology has become ingrained in almost every part of business life – no matter the industry or sector.As employers have learned to survive in unstable market conditions, they’ve come to realise the value of having an innovative and business-focused chief information officer (CIO).With technology advancing at an unprecedented pace, the traditional responsibilities of the CIO have expanded, with their role becoming increasingly important to the success of an organisation. In today’s business world, CIOs are required to not only manage IT infrastructure and systems, but also to drive forward and align technology initiatives with overarching business goals.The changing roleHistorically, the CIO's primary focus has been on overseeing the implementation and maintenance of technology systems within an organisation. However, as businesses have become more reliant on technology for their operations and growth, the role has evolved to encompass a broader set of responsibilities.Today, CIOs are expected to be strategic business partners who are there to help enhance operational efficiency and leverage technology to create competitive advantages – maximising the return on the company’s investment in technology. In other words, it’s now essential for a CIO to focus not only on cost savings, but on using technology to add value and increase revenue for the business.CIOs are now required to collaborate closely with other c-suite executives to align technology initiatives with overall business objectives, identify opportunities for digital transformation, and mitigate potential risks associated with technology adoption. It’s an exciting era, as CIOs now have the chance to be transformational leaders who can harness technological advancements and data to consolidate their tech stacks and gain efficiency.Challenges in staying up to dateStaying current with the latest technological developments can be a considerable challenge. The rapid pace of innovation, coupled with the proliferation of widespread AI technologies, presents a daunting task for CIOs looking to stay informed and ready to address the potential impact these technologies can have on their organisation.According to digital adoption platform, Userlane, and leading consultancy, PwC, almost two thirds of CIOs surveyed were concerned that the state of the economy will affect their digital transformation plans. But at the same time, 62% plan to deepen their investment in technology, illustrating just how important technology integration now is at leadership level.One of the biggest challenges is offering digital services that are safe and secure for the consumer, which makes cybersecurity a number one priority for the majority of CIOs; their responsibility is to protect the systems and data that shareholders and stakeholders entrust them with.As cyber threats become more sophisticated, CIOs must continually evaluate and implement robust security measures to safeguard their organisations' data and infrastructure.Understanding the capabilities of AIGiven the uptake in generative AI across the workplace, it’s no surprise that AI is expected to shape the future of business. Large language models (LLMs) will continue to play a part in generating documentation on business processes, designing training programmes, and writing and rewriting code.AI has been hotly anticipated by technology departments for a while, but has only recently reached a point where its potential benefits, capabilities, and enhancements, have become clear. CIOs are being asked to learn what AI is capable of and how it can be harnessed to competitive or strategic advantage across the business – similar to the adoption of any other technology.More recently, generative AI is offering an entry point for companies looking to spearhead investment decisions. Rather than manually researching information, CIOs have the ability to use generative AI to summarise markets, telling them where to look and where to harness department energy.Managing business needsThis transformation now sees CIOs juggling evolving responsibilities, to shape their departments. This requires a thorough understanding of their organisation's strategic objectives – helped by their c-suite role – as well as the ability to identify and prioritise technology initiatives that will best support those objectives.As the role grows, it’s important for CIOs to develop and maintain strong relationships with other business leaders and departments, gaining insights into their challenges and opportunities, and leveraging technology to address them. As a company grows, so does the amount of data, which makes having an innovative leader and strong IT department even more essential.We’re seeing CIOs steering the ship, promoting continuous improvement within their teams, while further encouraging the exploration of new technologies to drive meaningful change to stay competitive, relevant, and secure.The sooner companies realise the true value of the CIO position, the better their chances of success.To find a talented tech professional for your company, or to take the next step in your career, contact our specialist technology recruiters now.
Will AI eliminate the need for jobs?
At the recent Microsoft CEO Connections event, the CEO Satya Nadella compared the impact of new AI technology to the birth of personal computers and the internet, in terms of its potential global impact.While writers, actors, and other artists have been fighting to protect their livelihoods from AI’s threat, Elon Musk imagines what I can only describe as a nightmarish vision of the future where no one works at all (although, as a recruiter, I’m predictably biased about the 'nightmarish' part).The recent Reed/Bloomberg job market report sheds some light on this issue. While AI is a hot topic across politics and business, jobs in the sector have plummeted, suggesting that organizations have lost interest in hiring for new AI job roles.That’s not to say that companies are ignoring AI altogether. From finance to e-commerce, businesses have been integrating this technology into existing roles, allowing them to offer new and improved products and services to their customers. Here at Reed, we’re using AI to help remedy a common problem for recruiters and managers – choosing appropriate interview questions for specific roles. With our AI-powered Interview Question Generator, a task that once took hours can now be completed with the click of a button.Does this mean recruiters and their counterparts in other sectors will soon be out of a job and replaced by AI? Not necessarily. Although AI will most likely cause some jobs to disappear, it will also liberate people from bureaucracy, eliminate mundane tasks, and allow workers to focus on the parts of their jobs only humans can do well.So, while it’s almost certain that AI is transforming the way we work and recruit, I’m of the belief that, for as long as there are people to help, problems to solve and personal connections to be made, there will still be jobs.And, hopefully, there will still be recruiters.
Sabbaticals: considerations for employers and employees
The early years in a job are filled with learning: new skills, continued development and greater challenges along the way. For those lucky enough to love what they do in a workplace that meets their needs, years fly by – with some companies rewarding continuous long service or achievement with several weeks or months of paid sabbatical leave.What is sabbatical leave?Sabbatical leave used to be more commonly associated with academic professions, with educators traditionally granted a period of paid time off – usually one year – for further study or research. Similar opportunities have since filtered into other lines of work, with paid, part-paid and unpaid options, but are offered by relatively few employers across the world.Unlike career breaks, sabbaticals mean the work contract continues, giving employees freedom to explore without penalty. There’s no set format but it is recommended employers offer the leave on equal terms for everyone in the business rather than using an ad hoc system. A dedicated sabbatical policy can outline terms for both full-time and part-time employees to prevent misunderstandings and protect against discrimination and other claims – fairness and transparency are key.According to The Chartered Institute of Personnel and Development (CIPD): “Historically sabbaticals have been a benefit for employees. They are agreed for a variety of reasons including rewarding long service, travel, research or acquiring new skills, voluntary work, alleviating stress and burn out or to take care of health. In current times the motivation behind sabbaticals may be more for the employer’s benefit to provide alternatives to redundancy.”With greater focus on employee mental health and wellbeing, meaningful benefits such as sabbaticals can also encourage a member of staff to spend longer with the business.Having found their niche in a team and given the opportunity and resources to achieve and excel, many employees feel valued by the prospect of a morale-boosting sabbatical. What better than a reminder of approaching eligibility for a well-deserved break – usually starting after five years’ service.How much sabbatical leave should be offered?There is no law that says a business must offer sabbatical leave, paid or unpaid, but it is increasingly being introduced to attract jobseekers in competitive industries.Although the traditional year out enjoyed by academics is unheard of for most private companies, a more affordable period of four weeks’ paid sabbatical leave is considered fair, rising to six weeks or more after 10 years’ continuous service.Forward planning is essential to allow managers to reassign the leaver’s workload across the team or advertise for temporary help. This may require the employee to give at least six months’ notice but could well be longer depending on the seniority of the role.During the leave, the employee may receive full or partial pay, or no pay at all, depending on the company’s sabbatical policy. Some employers may formally request that no other paid work is undertaken during the absence.As an alternative or an addition to sabbatical leave, companies might choose to grant additional paid annual leave for loyal staff – perhaps five extra days after five years.What are the benefits of sabbatical leave?Time out can be an incredibly rewarding experience, and one with lasting benefits for both employer and employee. With the freedom that comes with the extra time off, sabbaticals are ideal for personal development, whether it’s a self-care plan, a period of study, travel or volunteering – the freedom from the 9-5 is ideally meant for discovery as well as relaxation.Employee benefitsBy using the time productively, employees could end up adding value to their role. Here’s a few ideas for how to spend the time:Rest and recharge: A break from the daily grind gives an opportunity to step away from your work-life responsibilities and find out what inspires you.Learning new skills: A sabbatical allows for plenty of free time that can be devoted towards learning new skills or honing existing ones. Whether it’s mastering a language or developing coding know-how, these experiences will enhance your career prospects and help you stand out from the crowd.Greater appreciation: Time out provides an opportunity to reflect on things taken for granted over time, such as our job, relationships, or health.Improved health: A sabbatical gives us the chance to focus on our physical and mental wellbeing by engaging in activities like yoga or meditation. This helps boost productivity levels upon returning to work along with improving overall quality of life.Explore new interests: During a sabbatical, you could take up a hobby you may not have had time for while working. This can be a great way to develop new skills and can even lead to a new career path.Personal development: Focusing on growth through travel, education, or other goals can bring new perspectives to your work when you return.Enhanced creativity and productivity: Stepping away from work can provide a new perspective and channel your interests into projects that could be useful back in the workplace.Eliminate burnout: Many people quit their jobs when they feel exhausted and demotivated through overwork and stress. Time away is a wellbeing solution that means you can retain your job while regaining your mojo.Employer benefitsSabbaticals can also provide significant benefits for employers in terms of employee retention and attraction:Retain top talent: Offering sabbaticals can be a powerful tool for retaining workers. Employees who feel valued and supported by their employer are more likely to stay with the company long-term.Improved productivity: Sabbaticals can lead to improved productivity in the long run, with employees returning to work with renewed energy and focus,Cost savings: If an employee takes a sabbatical instead of leaving the company altogether, it can save the employer money in the long run through recruitment and training costs.Enhanced creativity: Employees can explore new interests and ideas, introducing them in their work.Improved employer branding: Companies that prioritise work-life balance and employee wellbeing are more likely to be viewed as desirable places to work.Returning to workThe hope is that employees return to the workplace refreshed. The break may have brought clarity to their working routine, new skills that could benefit their role, and fresh ideas. The early weeks settling back in are a great time for sharing these ideas and considering how the job may be shaped by the sabbatical experience.For the employee, a little preparation before the end of their leave can ease any anxiety about the return: catch up on company and industry news, check-in with colleagues, and ask for team updates so it’s not a complete surprise on the first day back.Work may also seem a little overwhelming at first, with things unlikely to be the same as when the returner left. There might be different tech to get to grips with, new team members and schedules in place. Managers should keep checking in to ensure the returner is coping and not overloaded through this transitional period. Some workplaces provide a structured ‘return to work’ plan to help employees and managers meet their goals.To encourage and inspire new and existing staff, sabbaticals should be shouted about in job adverts, social media and company websites. The prospect of a break or memory of one may lead to workplace happiness and contentment.Looking for talented professionals to join your team or seeking a new opportunity? Contact one of our specialist recruitment consultants today.
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The 15-minute city: the future of the workplace
What is a 15-minute city?The 15-minute city framework was masterminded by French-Colombian urban planner, Carlos Moreno, whose idea means that anything you need to live an urban life is a 15-minute walk or bike ride away, eliminating the reliance on cars or public transport.It is a revolutionary, environmentally friendly, and inclusive way to rethink the planning of a city or town, giving each neighbourhood access to work, school, healthcare, retail, hospitality and leisure facilities, green spaces, museums and more, on their doorstep.Following multiple lockdowns, there has been a growing sense of appreciation for locality in the world, with people spending more time walking around their neighbourhoods and preferring to work from home or make shorter commutes. And during the cost-of-living crisis, people have been more conscious about the ever-increasing prices of fuel and public transport.With more people working remotely, at least a few days a week, there is room for the addition of more localised, essential services and amenities, that would otherwise be concentrated in a central location. This would give those living on the outskirts access to these essentials and to a greater number of opportunities.What impact could 15-minute cities have on businesses?A recent research by the International Workplace Group (IWG) discovered that 83% of workers around the world would turn down a job that didn’t offer flexible working. This indicates people are less willing to commute and prefer shorter journeys to work. As a result, having an office space just 15 minutes’ walk or bike ride away would be much preferred by professionals.Shorter commutes often lead to improved job satisfaction, work-life balance and wellbeing, with much less time spent on stressful travel. When provided with the flexibility to work remotely or from a local office, rather than commuting to a head office in a city-centre location, workers will be more tempted to stay with the business, or actively seek work there.People are now much more aware of the social value of the companies they work for, and their own carbon footprints, and will take into account the length, expense and environmental impact of a longer commute when considering moving roles.The introduction of ‘15-minute cities’ could see the expansion of businesses into less-expensive local areas, reducing overhead costs and extending access to the national talent pool. Professionals across the country will have more opportunities closer to home, without the need to move centrally or commute. Then, the local talent pool will become richer, and businesses won’t have to cast such a wide net to search for their next employee.How close is the reality of ‘15-minute cities’ in Poland?The concept of 15-minute cities is gaining attention in Poland, and progress is being made towards creating more livable and accessible urban environments. Cities like Warsaw and Krakow have been actively implementing initiatives to enhance walkability, promote mixed-use development, and improve transportation infrastructure. These cities have invested in pedestrian-friendly infrastructure, such as expanding sidewalks, creating dedicated bike lanes, and improving public transit networks. Additionally, efforts are being made to bring essential services, including schools, healthcare facilities, and retail outlets, closer to residential areas. While there is still work to be done, the growing awareness of the benefits of 15-minute cities and the ongoing urban planning efforts in Poland indicate a positive trajectory towards achieving this vision. By prioritizing compact and well-connected neighbourhoods, Poland is moving closer to the reality of 15-minute cities, where residents can conveniently access their daily needs within a short distance from their homes.Overall, the concept of a ‘15-minute city’ could revolutionise the way we live, work, and hire, by reducing commute times, making it easier to access talent and opportunities, and to work hybridly. As a result, it could also improve job satisfaction, wellbeing and the general quality of life for you and your employees.If you’re looking for your next local hire or job opportunity, contact your nearest Reed office.
Top 10 soft skills you need to work in finance
When searching for a role in finance, it's often not what you know, but what you can offer. Job hunters have long been told to list, and give prominence to, technical skills on their CVs, but finance sector employers are increasingly looking for candidates with interpersonal abilities known as ‘soft skills'. Demonstrating these 10 characteristics will help candidates prove their value in the workplace.10 soft skills to help you prove your value in the workplace.1. CommunicationEarlier this year, analysis by LinkedIn showed that 57.9% of new hires who changed jobs in 2014-15 listed communication as one of their strong suits. Good communicators are in demand across a range of industries, and they're vital in fields that require employees to explain their specialist knowledge to others. An aptitude for number crunching won't get you far in finance if you can't justify and explain your calculations.2. NegotiationWhether you're closing a deal or managing expectations, it's important to know how to fight your corner without ruffling any feathers. An aptitude for negotiation will allow finance professionals to reach an agreement that benefits all parties. Failure to compromise effectively can create frustration and damage interpersonal relationships or, at worst, result in loss of revenue for a business. Having a demonstrable knack for negotiation will put you ahead in any financial enterprise.3. InfluencingFinance professionals must be prepared to explain how their objectives are mutually beneficial and anticipate objections. If, for instance, an investment banker wants to sell off a stake in a joint venture, he or she must be able to show how this will benefit the bank – even if some colleagues disagree.4. Critical thinkingA critical thinker objectively analyses or conceptualises a situation from a balanced perspective. Often, customers and clients will look to financial professionals to rationally evaluate a scenario – be it a ledger or the performance of a stock. In fast-paced business environments, a poorly thought-out decision can cost a company time and money. So the ability to make critically-informed choices is crucial for modern finance professionals.5. FlexibilityFlexible employees are capable of weathering change and staying productive in high-pressure situations. Good stockbrokers provide the most dramatic example of this: their day-to-day work revolves around coping with constant fluctuation and determining the best course of action. However, cultivating a flexible mindset also means being able to see through the eyes of others and understand their motivations. A flexible finance professional will always ask: "Why might someone think this way?"6. ResilienceResilience refers to one's ability to bounce back after facing adversity. While this is an important skill in any workplace, it's especially important in high-pressure situations. Being able to cope with changing circumstances, having confidence in your ability to deliver and thinking carefully about what you're trying to achieve can prove valuable – particularly in financial roles.7. CollaborationIt's no secret that top-level financiers are on the lookout for team players. A recent survey by Adaptive Insights showed that 70% of chief financial officers considered collaboration to be their top priority for 2016. In the financial sector, it has become increasingly common to work across multiple teams and geographies to achieve a shared goal. Someone who approaches group-working scenarios with an open mind and a willingness to listen will benefit any team.8. Problem solvingEffective problem solvers identify the issue at hand, weigh up their options quickly and make a firm decision about the best course of action. Those who excel at problem solving can really drive an organisation forward and will earn the respect of their colleagues by offering meaningful input in even the toughest situations.9. DedicationDedication is fierce commitment without the expectation of returns. Rather than becoming overwhelmed by a single task, dedicated workers will devote themselves from start to finish. Discipline, hard work and acceptance of delayed gratification are key ingredients in developing the dedication mindset.10. EmpathyIt's a common misconception that roles focused on data and numbers require a detached approach – empathy should never be undervalued in finance. Clients often seek financial advice during stressful life events, and dealing with someone who has suffered a loss requires a different approach from a couple seeking their first mortgage.An empathetic person shows that he or she cares. In displaying understanding, finance professionals will also build trust in their relationships with co-workers and clients.It's not enough to simply tell an employer you have the soft skills they're looking for. Instead, strive to demonstrate your skillset by offering up examples from previous job roles and highlighting talents you've developed outside of the workplace. Remember, employers are always seeking the right personality for the job – not just a list of positions and qualifications.How to identify your own skills:Reflect on your reactions to tense situations at work and compare them to those of managers and co-workers you admire.Prepare answers to interview questions that screen for soft skills, such as those about workplace experience in problem solving and collaboration.Ask current or past colleagues to evaluate your strengths and weaknesses. They may be able to offer insights you hadn't previously considered.Consider your strengths in relation to the job you want to apply for so you can be confident about the criteria you already fulfil and areas that you can develop on the job.How to acquire new skills:Make a conscious effort to improve your soft skills every day – remember, they're attributes to develop, not innate qualities.Take up skill-building hobbies in your leisure time. Something as simple as a cooking class might prepare you to prioritise tasks and work under pressure.Ask for help and feedback from colleagues and senior staff in your workplace.Enrol in a course designed to build soft skills, such as those offered by Reed.
How to create a great recruitment strategy
Getting your recruitment strategy right is key to hitting your business goals. Here are some expert tips to help you set up your company for success – and the shortcuts to keep you ahead of your competition.What is a recruitment strategy?A recruitment strategy is a clear plan that explains what roles you’ll recruit for, when, why and how. It should be tied to your overall company objectives.Your strategy must be possible to implement and easy to communicate. While you can tweak your tactics, the strategy must always be clear.Unsure how many employees you’ll need? Hiring temporary staff helps you expand quickly and risk free.The core aspects of a great recruitment strategyGrowth PlansIn order to scale up your workforce, you’ll need to hire – which takes time and resources.Create a measure to help you identify which areas of your business will benefit most from increased headcount.This could focus on return on investment or opportunities lost.Shortcut: Unsure how many new employees you’ll need? A recruitment agency will give you access to temporary staff and contractors to help you expand quickly and risk free.Employer BrandMake sure your employer brand and message are attractive to your target audience, particularly over social media. A well-known brand is a big selling point to talented job hunters.Be open and transparent about the company’s working culture to ensure you attract candidates that will match your business.Shortcut: If your brand isn’t well known, a recruitment agency can contact candidates directly and spend time promoting your employer messages.Skills AuditUse your company objectives to identify developing areas of the business, then decide on the skills you will need to succeed.Your recruitment strategy should include ways to find and bring new skills into the company.Employers often focus on advanced digital and technical skills, but you should also consider bringing in candidates with different experiences.Shortcut: When interviewing for a role you’ve never done yourself, your recruitment consultant can offer interview tips and support to build your confidence."You can tweak your tactics, but your end goals must be clear."FlexibilityIf your company needs to adapt quickly to an unpredictable market then hiring permanent staff may not be the right option.Your strategy should include a plan for temporary staff and contractors to cover projects that are likely to change at short notice.Shortcut: Unless you already have an advanced payroll function, it makes sense to ask your recruitment agency to manage payroll for your temporary workforce. They look after tax, holiday pay and even pension contributions – saving you a lot of hassle.When to review your recruitment strategyYou should always be thinking about how you differentiate your company from your competitors, and how you can be a more attractive prospect for potential candidates.Pay close attention to all aspects of the recruitment process, and make tactical tweaks throughout the year when necessary – while holding firm to your recruitment strategy.You should review your overall recruitment strategy annually to make sure it ties in with your wider business objectives. It’s important that everyone in the company understands your goals – so be clear and concise about what success looks like and how you will get there.