5 ways CIOs can help guide tech companies through tough times

Recent mass layoffs at big tech firms have highlighted the importance of strong CIO leadership to help right the ship, The Wall Street Journal reported on Nov. 27.

Here are five ways CIOs can guide tech companies through economic uncertainty:

 

  1. Prioritize cybersecurity: CIOs faced with the prospect of budget cuts should avoid trimming their cybersecurity budget. "I don't ever go to that hunting ground to save money. If I get a budget challenge, it doesn't come out of cyber," Kellogg Global CIO Lesley Salmon told the Journal.

  2. Focus on efficiency: Continued investment in automation processes can help a company save time and money during an economic crunch.

  3. Rethink hiring strategy: CIOs should take the time to rethink their hiring strategy and slow their pace of hiring. At the same time, CIOs should be on the lookout to hire recently laid off top-of-the-line tech talent.

  4. Look beyond IT: Continued collaboration with different business units can help drive efficiency and save costs.

  5. Focus on the long term: CIOs should work to convince corporate leadership that recessions are temporary and it is still important to invest in long-term areas of growth.

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