Being a CEO takes more than just business savvy and leadership skills. As a CEO, you are responsible for the wellbeing of an entire organization- today that means staying on top of technology. Figuring out what is just a trend and what can set your company apart from the competition is no easy task. We have come up with 10 reasons why it is important to be tech-savvy as a CEO.
- Understand Operational Impact
Technology has a huge impact on a company’s operations and understanding the holistic view is important for leadership. How can you improve processes through technology? When you are a tech-savvy CEO you are thinking about the tech impact on operations and the big picture. Gaining an understanding from your employees so you can make the best decisions for your company is important and the humility goes a long way.
- Team Support
When you can come to the table and talk in an informed manner to your team about technology, you will earn more support. If you have an in-house tech team, they will be able to tell easily if you know what you’re talking about, and if you do, they will feel more comfortable having in-depth conversations with you about your technology strategy. Having this kind of support can make all the difference when you are faced with tough decisions.
- Attract Top Talent
When you are a tech-savvy CEO, you will build a reputation for having a good foundation of knowledge. It will spread through various channels that you are willing to gain an understanding of more than just your core responsibilities and that makes prospective employees feel confident that they will be supported in their position at your company. You will also be able to sift through the wrong candidates with ease and eliminate them confidently.
- It’s Rewarding
We never really stop learning. Learning a new tech skill – maybe coding – will be a rewarding experience. It will tap into your creative side and help you open your mind up to new possibilities for your company. It will also help you gain a true camaraderie with your tech team and other employees as well because you know a little more about what they are doing day in and day out. Experiencing their challenges first hand is different than empathy.
- Culture
It’s no stretch of the imagination that becoming more tech-savvy as a CEO will help create a better company culture. One way to do this is by utilizing some online tools and applications, such as TinyPulse and Asana, that help your employees feel connected and heard. When your employees know they can come to you through these tools, they will start to work on a no-fear culture. You don’t need a ton of tech know-how to get these applications off the ground, so this is an easy improvement to make.
- Understand Resources
Knowing the ins and outs of technology and the lingo that goes along with it will help you to understand the resources you really need to grow your business. There are new tools coming out all the time for businesses. When you truly understand technology and the impact it is having on your business growth, you can easily weed out the unnecessary tools and focus on the ones that will make a true impact.
- Flexibility
Being able to lend a hand to your technical team when they really need it or just being able to answer a small tech question for anyone at your company can make a huge impact on your company output and your company morale. When your employees see that you have the willingness and the skills to pitch in outside of your leadership role, they will feel secure and supported. Beyond that, the right technical background will help you navigate through the shifting business landscape of today.
- Protect Company Data
Keeping your company data safe is something you should already be doing. This is a quickly-evolving industry, however, so learn about all of your options. Cloud-based storage, encryption, cyber liability insurance and virtual private networks are all part of data security and without it, your company will have a hard time functioning. Do you know what you need and what you don’t? Knowing what options will work best for your company because of a true understanding will keep your company data safe and having a little tech-savvy will go a long way.
- Relating to the next generation
The next generation of employees are tech-savvy by nature. You will have a hard time relating to them if you are not tech-savvy on some level. Without any understanding of tech in today’s business world, they will likely relate you to their technically challenged grandparents – not the best way to connect with the future of your company.
- Know your company
Technology is here to stay and it is working its way deeper and deeper into every department of your company. With a foundation of tech knowledge, you will better understand the inner workings of your company. You will have a firm grasp on every area and a clear sense of where investments should be made.
