Many CIOs report they are afforded more flexibility to run their operations as they are working with larger IT budgets in 2012 than they did in 2011. This insight is provided by latest annual Society for Information Management (SIM) survey.
SIM membership includes more than 3,500 CIOs and IT executives. SIM conducts the research annually to assess how CIOs experiences change from year to year. The SIM organization conducts this research and holds a large annual conference to bring many of these CIOs and their senior IT leaders together to share and learn from each others experiences. Many aspiring CIOs participate in the SIM RLF or Regional Leadership Forum to gain the leadership skills necessary to take on the top IT spot.
While overall budget numbers are still less than pre-recession levels, the recent IT budget increase is attributed by CIOs at least in part to a growing appreciation among organization decision makers for the IT department's impact upon achieving business objectives. This is one of the primary reasons why a growing number of CIOs are reporting directly to the CEO rather than the CFO.
With larger IT budgets CIOs are more easily able to hire better talent to keep in line with growing IT salaries for many key IT positions. These reasons in addition to other factors have lead to an overall increased sense of stability for CIOs, as their average length of tenure at their current position has continued to increase in recent years. CIOs and IT executives from 195 companies took part in the research.
Here are some other key highlights from the 2012 SIM survey:
1. About 5% of a corporation's overall revenue was allocated to the IT budget in 2012, compared to about 3.6% in 2011
2. Approximately 48% of CIOs say the IT budget in 2012 is greater than 2011's, compared to 34.5% who say 2012's budget was less than 2011's.