A C-suite leader in a company is expected to display multiple skills to lead people, navigate transformations and manage stakeholders. Now, technical skills are also becoming an important requirement for them.
There is an increased need now to have leaders with know-how on tech and systems, says Pranshu Upadhyay, Regional Director, Head-India Technology Practice, Michael Page.
Even board directors today need to have a grasp on the fundamentals of artificial intelligence (AI), big data and cybersecurity, says Somdutta Singh, Founder and CEO of Assiduus Global Inc.
Key skills needed
Singh says these professionals do not have to be coding wizards, but they should be able to ask insightful questions and understand tech’s business implications.
He uses fintech as an example to demonstrate this requirement: As the fintech landscape constantly evolves and regulations play catch-up, corporate boards need directors who can navigate this complex environment and ensure compliance.
The best fintech companies are constantly innovating. Boards need directors who are comfortable with change and can champion bold ideas.
Upadhyay points to a case study for a C-suite level hiring that talks about a candidate from an FMCG background trying for the role of head of sales — not a tech-facing role. As part of the interview process, the candidate was asked to create a presentation on “how would you digitise the process more efficiently”. This shows the emphasis companies are placing on tech know-how at the strategic levels.
He clarifies that be it sales or HR, the understanding of tech is now getting more critical given the extent at which technology needs to be integrated into business processes. For example, in sales one might need to automate how a field sales agent books orders to how inventory is booked; in HR, there might be a need to look at digitising training modules and hiring processes.
The regional director at Michael Page says people look for technical prowess at 7 out of 10 interviews at a C-suite level now; earlier, boards were not looking at this as an elimination criteria for senior roles.
Technical skills a boardroom essential
Singh of Assiduus Global says technical leadership skills are no longer a niche, they’re becoming a boardroom essential. But their importance varies depending on the company.
CEOs need to understand the technology behind their product intimately. In legacy financial institutions, technical leadership translates more to strategic vision. CEOs need to understand how technology can transform their business, but they may not need to code a single line.
He clarifies that the roles where these skills are most valuable are CTO or chief technology officer. The CTO needs to be a visionary leader who can spearhead product development and ensure the tech stack is robust and secure. Next is the CPO or chief product officer. A CPO with a technical background can bridge the gap between business needs and the technical feasibility. And finally, for the CEO or chief executive officer, technical fluency depends on the company’s stage, but some understanding of tech becomes a major asset.
Upadhayay points out that whenever they hire in any function on the product tech side, the need for close collaboration with the technology function is emphasised. Independent director certifications today address some of these emerging skills requirements, he adds.
People at senior levels who want to upskill themselves are proactively trying to continuously learn these skills. This also helps address possible instances of ageism at work.
