The CTO role is in greater demand than the CIO role, claims executive search firm Laudale. Studying its own market as well role advertisements and candidate feedback the Manchester based firm finds that demand for CTOs is five times greater than for CIOs in the North West of the UK.
Laudale managing director Alec Laurie says that in the first half of 2018 demand for the CTO role accounted for 65% of executive searches for digital and technology roles.
The findings, which are available in the How’s the market report from Laudale states that despite the demand for CTOs, Brexit is causing great concern amongst business leaders and impacting hiring. Interestingly the report finds a greater demand for permanent CTOs with demand out performing the interim and contractor market. Uncertainty in market conditions, such as that caused by Brexit usually drives up demand for interim and contractors, but as Laudale find, the size of organisation that is rapidly growing in Manchester and the North West may be the cause of these findings.
“65% is a significant proportion of the technology leadership market, it’s unsurprising given the that the vast majority of North West businesses are classed as SME or mid-market companies,” Laurie of Laudale said of the findings. Manchester has a thriving digital business scene of scale up and startup businesses.
“Technology talent is tight throughout the UK and we have good supply here, it is still tight, and the mayor has announced a £2m skills fund,” Tim Newns, CEO of MIDAS, the Manchester investment body told the Horizon CIO Podcast in November about the rapid growth of Manchester and the North West.
“It is the next level down that we need to attract, there are not so many CIO roles, but the 500 to 1500 size organisation need a CTO and we need to work with the CIO community to raise the profile of the North,” Laurie told the Horizon CIO Podcast of how the next generation of CIO should be looking at Manchester and the roles with the fast growing businesses the city has.
In this research Laudale found Manchester and the North West has a strong cohort of organisation of 500-1000 full time employees and up to £200m revenue.
The How’s the market report also found rising demand for Data Architects and Agile Delivery Manager. Given the size of organisations that Manchester and the North West is seeing grow and the rising number of digital businesses it is likely to be connected that as organisations seek out CTOs to deliver new technology led businesses models and services therefore a demand for Data Architects and Agile Delivery experts follows.