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Help Wanted: CIOs Need Not Apply?
The recession is turning out to be a career-booster for some folks within IT management ranks, but a dream-buster for a lot of CIOs looking for new jobs.
As companies are consolidating and downsizing in this rotten economy, there's a "huge supply of really good people hitting the streets looking for new jobs, including CIOs, CTO, VPs of infrastructure and other senior level IT executives," says Beverly Lieberman, president of Halbrecht Lieberman Associates, an executive recruitment firm specializing in IT careers. And as you might expect these days, not all of those IT managers and executives are hitting the street voluntarily, she says.
Lieberman's company is based just outside of New York City, in Westport, Conn., but her business places talent nationally. She's got a broad view into what's been going on in the senior IT management ranks, and she says it isn't pretty. In her 20 years doing executive searches, Lieberman says this is the softest market she's seen. There are more newly out-of-work CIOs, including business unit CIOs and other senior-level IT executives, these days than employers looking to hire, she says.
"It's happening across all sectors, retail is getting creamed, manufacturing is cutting back, consumer goods, financial services, universities, health care, insurance -- they're tightening their belts," she says.
"Openings are declining, companies are not replacing people or they're not going outside to replace them," she says.
Lieberman isn't the only recruiter who's noticed these trends. Michael Kirven, co-founder and principal of Bluewolf, an IT staffing firm, says CIO vacancies are "more common than you'd think." He says he's aware of about 10 to 12 companies on the East Coast in "the midrange of $200 million to $3 billion" in revenue that are "using this stalling tactic" of not filling a CIO vacancy to save money right now.
"If a CFO can save a company $140,000 by not replacing the CIO right now, that's what they'll do," Kirven say. And if a company can save money by not using an executive search firm to find a replacement right now, that's what they'll do, too.
Companies that have lost CIOs -- through attrition or budget cutting or other business maneuvers -- have been "delaying the hires of new CIOs," Kirven says.
If you're looking for the silver lining in this sobering trend, here it is: This is creating enhanced career advancement opportunities for internal talent.
Read further to hear more about this strategy.
Know of any companies that are looking to hire a new CIO? How about companies not filling a CIO vacancy? Tell us about it.
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