The chief information officer (CIO) role is evolving into the chief digital and information officer (CDIO) across India Inc. Companies are now appointing CDIOs to lead their digital and information strategies. Recent data from executive search firm WalkWater Talent Advisors indicates that one-third of organisations have either established or filled the CDIO position, underscoring its increasing significance in today’s corporate environment.
Rahul Shah, co-founder and director of WalkWater Talent Advisors, said that the high demand for CDIO talent is resulting in significant turnover. “There is a demand-supply gap. It is not always easy to get the perfect CDIO. CDIOs are holding two to three offers parallelly,” Shah said.
Shah said that CDIOs with global experience and diverse educational backgrounds are highly sought-after by recruiters. Candidates with management consulting backgrounds are particularly preferred. The importance of CDIOs was growing because of digital transformation across industries and driving CDIO hiring.
According to a WalkWater talent report on CDIO role said CDIO hiring continues to be on an uptick and this high demand for CDIOs would continue for the next few years. Around 64% of CDIOs have changed jobs in the last three years, indicating significant job mobility in the sector. Additionally, six out of every ten CDIOs have switched jobs within the same timeframe.
The study found that 40% of Indian companies currently have a CDIO, whereas only 25% of multinational companies (MNCs) have adopted this role. Indian companies are leading in driving growth agendas, partially due to the concentration of MNCs’ digital transformation efforts at their head offices.
Nearly 50% of the movement among CDIOs over the past three years has been towards companies in the industrial sector, with another 25% to the consumer sector. These two sectors are at the forefront of adopting digital transformation initiatives, driving significant changes in leadership roles like the CDIO.
The emergence of CDIOs marks a shift towards strategically leveraging technology to drive business outcomes, beyond traditional technology management. Advances in cloud computing, SaaS, and AI-driven decision-making have accelerated this evolution. Unlike CIOs, CDIOs blend technology expertise with business strategy, with 37% having prior experience in business or management consulting. This role now encompasses and expands upon the traditional CIO responsibilities, according to the report.
The compensation for CDIOs would be `1.5-3 crore (depending on the organisation’s size). CIO’s are in the `1.1-2 crore range.
Shalini Jain, Partner (Consumer Practice, WalkWater Talent) said: “The CIO function is one of the functions which has seen the most critical transition in the last ten years and CIOs are transitioning to CDIO or CDO roles.” This transition has accelerated rapidly post-COVID with virtual work from home, ordering online and everything becoming digital. With organisations embracing the change, digital strategy has become paramount, Jain added.
CIOs have to reinvent themselves, capture new skills, and understand the whole digital journey. Earlier CIOs were more of you know handling infrastructure, security, ERP implementation, implementing sales force, right, but today CIOs now need to be more digital savvy, Jain said.
Historically, CIOs often reported to CFOs, placing them one level below the leadership team. However, CDIOs are now increasingly reporting directly to CEOs, underscoring their elevated strategic role within organizations.
The WalkWater’s study covered 310 CIO/CDIO profiles across 272 companies. CDIOs are more prevalent in the industry with 40% of industrial companies studied having a CDIO. Pharma (36%) and consumer (35%) sectors were among the top while BFSI (26%) and technology (17%) sectors lag.