Chief Technology Officer: What is the cost of hiring?

Why hire a chief technology officer?

Bringing on any new C-level leadership can greatly affect existing staff and your bottom line. However, a great chief technology officer hire can benefit your business by:

• Identifying and pursuing new, profitable opportunities with data and technology
• Analyzing and monitoring all technological performance metrics
• Providing oversight to your company’s internet technology (IT) department

Deciding between a full-time vs freelance chief technology officer

There are a couple of reasons why a company might hire a freelance chief technology officer. One of these is to have someone operate in an interim capacity while the company searches for a full-time replacement. Small businesses might also look into hiring a freelance CTO because they may not have enough work to justify a full-time hire. 

Large companies and corporations, however, typically have a full-time employee in their CTO position. This is because a full-time employee is cheaper and more consistent with the company’s brand when compared to a freelancer. 

What are the types of chief technology officers?

Although all chief technology officers fill similar roles in companies, each of them may have a different focus and slightly different responsibilities. Some of the types of CTOs include:

• Infrastructure CTOs: Infrastructure CTOs are typically working in the background of a company. They’re responsible for overseeing the company’s internet security, online information and maintenance. This type of CTO may also create a technological road map.
• Planner CTO: The role of a planner CTO is to create a technological strategy for improving the business. They plan to use technology to improve efficiency and raise net profits. 
• Consumer-focused CTO: A consumer-focused CTO uses technology to act as a bridge between the company and its consumers. They also work to improve the company’s IT department. 
• Thinker CTO: Thinker CTOs work closely with the CEO and other members of upper management to examine the company’s target audience and create a business model. 

Where to find CTOs

To find the right chief technology officer for your business, consider trying out a few different recruiting strategies:

• Promote from within. Assess the skills, personalities and ambitions of the employees in your IT and technology departments. If any of these individuals show the potential to fill the CTO position, set up an interview to make a decision. Hiring from within can also be cheaper than a new hire. 
• Reach out to established CTOs. Some of the chief technology officers of other prominent businesses may be looking to make a move to another company. Set up interviews with potential candidates to gauge their level of interest in the job. 
• Post your job online. Try posting your chief technology officer job on Indeed to find and attract quality chief technology officer candidates.

Skills to look for in a great Chief Technology Officer

A great Chief Technology Officer candidate will have the following skills and attributes as well as work experience that reflects:

• MBA and certifications in technical programming or IT experience
• Experience in reading and designing technology frameworks
• Proven leadership in a technological field
• Outstanding project management skills
• Maintaining a working knowledge of new technologies
• Excellent oral and written communication skills

Writing a chief technology officer job description

A thoughtful description is important to finding qualified chief technology officer candidates. A chief technology officer job description includes a compelling summary of the role, a detailed list of duties and responsibilities and the required and preferred skills for the position.

When writing your chief technology officer job description, consider including some or all of the following keywords to improve the visibility of your job posting. These are the most popular search terms leading to clicks on chief technology officer jobs, according to Indeed data:

• CTO
• Chief technology officer
• Information technology
• CTO chief technology officer
• IT
• Executive assistant
• Technology
• Chief data officer
• Chief information security officer
• CIO

Interviewing chief technology officer candidates

Strong candidates for chief technology officer positions will be confident answering questions regarding:

• Developing and maintaining a company’s computer system infrastructure
• Ensuring network and technological security
• Hiring and training programs

Need help coming up with interview questions? See our list of chief technology officer interview questions for examples (with sample answers).