When evaluating executive cost-per-hire calculations, including search firm fees, severance package costs, hiring bonus, relocation expenses, base compensation, stock options and training costs, it's not uncommon for a business to average $1.5 million per executive hire. That's a high price to pay every two to three years for a new CIO or CFO.
Increased pressure on C-suite executives is well documented. Sarbanes-Oxley, tougher SEC regulation, increased speculation, and high public distrust are causing well-paid, well-educated men and women to quit once prestigious jobs more quickly than ever before.
According to Gartner, CIO tenure averages three years. What's making titles such as Chief Information Officer and Chief Financial Officer look more like a two year project or consulting contract? Simple, it's no longer a one person job.
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