Nearly 20 CXOs have been hired across India Inc in the last 10-12 months to drive digital transformation, marketing and innovation, say leading head hunters. It was also found that salaries for such roles like chief digital officers/digital transformation officers have now pushed up to Rs 3.5 crore because of the huge gap between demand and supply. The rise in digital transformation has created the demand for CDO role in many firms. CDO role has become important in past two years, as they report to the CEO and often are given same status as the chief marketing officer (CMO) or the chief information officer (CIO). Nearly 20 percent of Indian firms prefer to hire chief digital officers as compared to the global.
Companies such as Reliance, Aditya Birla Group, Mahindra, RPG Group, Raymond, Birla Sun Life Insurance, L&T InfoTech have hired digital talent recently. The trend was going up and many companies are hiring for the digital marketing, to make a company more visible from a digital presence. The other is digital transformation, which implies using technology to radically improve processes and transform the company.
Firms including manufacturing company, leading banks, a multi-layer marketing company, a cosmetics company and a $50-billion group have hired CXOs for such positions in the past six months. Hiring managers opined that hiring for such roles has not been as there was a gap between demand and supply. Sometimes they are looking for abroad hires. Now even traditional companies, startups are also looking for digital professionals. Sometimes companies looking to hire digital experts who have global expertise for an India focus. Salaries offered are as high as half-a-million US dollar and they want the heads to help the company in its new phase of digitization. Companies across all sectors have a roadmap to hire digital professionals with a salary bracket of Rs 1 crore-3.5 crore.