In modern times, CIOs have entered a new playing field. They are taking on roles as portfolio CIOs, which involves getting involved in various tech and leadership roles within your industry. It may include joining board seats, advisory roles, and fractional work. CIOs who opt for a portfolio approach can broaden their career horizons, develop new skills, and avoid ho-hum workdays.

If a portfolio career sounds good to you, the next step is getting started. This article will guide you as you transition to other roles in your industry.

Transitioning to Board Positions

CIOs often transition to board positions in their organization and external organizations. Many companies recognize the importance of including CIOs in their board meeting as they provide the following benefits:

• Technology Insights: Tech guides various strategic decisions within organizations. CIOs bring their tech insights to help companies drive innovation and efficiency.
• Act as a Liaison with the Organization’s CIO: When CIOs work as a board member externally, they can act as a liaison with the company’s internal CIO, ensuring they achieve their technological goals.
• Merging the Barrier Between Business Strategy and Tech: As board members, CIOs must understand how technology impacts business strategy and translate this information without technical jargon, helping other board members understand the benefits of new systems.

To take on the new role, you must:

• Align Yourself with the Right Companies: Seek out companies that align with your skills and knowledge. You may even connect with organizations within your network.
• Understand the Company’s Pain Points: Show the company you have something to offer by understanding their pain points and providing solutions. Stress your experience with budgeting and risk management.
• Be Aware of Culture: Many boards have pre-existing alliances and may be expected to align more with some members more than others. However, it’s best to establish yourself as an independent thinker prioritizing company needs.

Advisory Roles

With so many tech products, businesses often wonder which is right for their company. CIOs can lend their insights to help organizations make the right decisions.

As a CIO, the switch to an advisory position may come naturally. After all, you are likely already asked for input on various tech decisions from within your company and your network. However, once you take on official roles, your responsibilities go deeper than telling someone you like a system and why.

Here are some other skills and responsibilities that may come into play.

• Accountability: As a paid advisor, you will be accountable for a company’s success rates with new systems. Consider the KPIs that relate to each client and work out a low-risk testing system. You may need to provide ongoing support as systems evolve.
• Take an Interdepartmental Approach: CIOs are often inter-departmentally focused and may only gain insights on specific aspects of tech impact secondhand. When they move to an advisor role, they must take a more empathetic approach, considering the repercussions of tech products company-wide. The proposed technology must balance needs throughout departments.
• Understand the Importance of Education: Tech advisors must educate companies to help them understand suggested products, how they will benefit businesses, and how to launch them. In this sense, CIOs must develop excellent communication skills and the ability to explain products in layperson’s terms.

Fractional Work

A fractional CIO may also be considered a ‘part-time CIO for the following reasons:

• They may be hired by small and mid-size companies that can’t afford a full-time CIO.
• Fractional CIOs may be brought on to work with the company’s full-time CIO to launch or oversee specific initiatives.
• A part-time CIO may take over for a CIO who will be out of the office for an extended period.

Fractional work can be attained with the same acquisition process as any other position. CIOs must build a strong resume and seek out jobs on job boards. However, networking plays a huge role as professionals are more likely to be hired by companies they have previously networked with.

While fractional work may seem appealing to CIOs in full-time positions, it should not be a fly-by-night decision. Professionals must determine if leaving the permanent workforce and seeking interim roles is ideal for their career trajectories. The move can be a fulfilling choice for some professionals.

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