Janco Associates, a management consulting firm that conducts regular salary surveys, reports that the median job tenure for a CIO is now four years and one month. In , Janco said it was four years and seven months. The group's salary survey is based on data from companies in North America, South America and Europe.
Gartner pegs the average CIO tenure at less than five years. Janco's CEO, Victor Janulaitis, blames the decline in tenure on the recession and corporate decisions to seek IT changes and new leadership.
But he also says the retirement of baby boomers is contributing as well. Jerry Luftman, a distinguished professor of information systems at Stevens Institute of Technology who also conducts the survey for SIM, says tenure is increasing because CIOs are doing better in establishing their roles as business managers.
The turnover rate has also been impacted by the recession, with boomers holding off on retirement until their finances recover. Regardless of whether CIO tenure is lengthening or shortening, it is still pegged around the four-to-five-year mark and is in line with Petersmark's story. An entry-level sales position might have an average tenure of one year, while the director of sales might be a position someone holds for an average of four years.
It makes sense. Think about if those times were reversed! It brings about the question: how long is the average tenure for a member of the c-suite? It sets the expectation for how long you can and should expect senior leadership to stick around.
Below are some important statistics, courtesy of a report by Korn Ferry on the average tenure of c-suite leadership across different positions and industries, from companies. For companies filling a vacant seat at their executive table, expect the ideal candidate to stick around for about five years. While this might sound short, there are several factors behind this figure and context for that length.
First, this is the aggregate average of all c-suite positions. Top company figureheads have tenures that skew higher—for example, 6. Shorter executive tenures typically fall to positions in evolving fields.
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In comparison, CEOs remain in their position almost twice as long, at eight years on average. But extracting the Australian figures tells a different story. In , Australian CIOs said they expected to be in the same role for another 3. This year, they had hopes of sticking around for, on average, for only another 1. At last count , the shelf life of Australian CEOs for example was 5.
CEO average tenures are at their highest since and in beat the global average 5. One of the biggest factors in the tumbling tenure trend locally is the widespread appetite for digital transformation among Australian businesses, according to experts. Businesses need to rapidly digitise core platforms and processes, and the customer experience, to remain relevant let alone successful.
Those that do transform are able to ensure increased profit margins, productivity improvements and cost reductions as a result. The available opportunities in the market means CIOs can more easily make the switch to another company.
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