Strategic CIO // Team Building & Staffing
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5/8/2013
12:29 PM
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What IT Staffs Want More Than Salary

The 5 job factors that matter most to IT executives have nothing to do with compensation. Are you ready to deliver?

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A few weeks ago, I sat down to examine the data surrounding InformationWeek's 2013 IT Salary research for executives. You may be surprised that the data tells us salary isn't really what matters most to IT executives. The five things that matter most have NOTHING to do with compensation.

While you might think that IT execs' higher level of satisfaction with compensation might factor in here, digging into the data a little bit tells us a different story.

As I wrote in the report, "Compared with IT staff, who are either satisfied or very satisfied with their salaries 59% of the time, and satisfied or very satisfied with their jobs overall 63% of the time, IT execs are only a few percentage points better. Sixty-five percent of IT execs are very satisfied or satisfied with salaries, and 70% are very satisfied or satisfied overall with all aspects of their jobs. The slight edge over staff in these categories isn't quite the 'let them eat cake' level of smugness that IT staff might imagine."

All of which is to say: CIOs aren't significantly happier with their jobs or salaries than IT staff.

[ Is your job satisfaction lacking? Read 5 Social Blunders Job Hunters Must Avoid. ]

So what does matter to CIOs? Well, among the 340 CIOs who took our survey, the top answers for "what matters most to you about your job" were, in order: My opinion and knowledge are valued; Involvement in setting company strategy and determining goals; My work (job) is important to the company's success; Challenge of job/responsibility; and Corporate culture and values.

If you simplify these factors into five basic questions -- and if the answer is no -- they read very much like any employee's reasons to leave a job: Am I being listened to? Does my work matter? Is my work presenting an interesting challenge? and Am I working for people that I respect and like and who seem decent?

To some of us, this logic is patently obvious. Others with free-market-myopia will point to the finding in the research that shows that higher compensation is the No. 1 reason why IT executives look for a new job.

Yes, of course it is. All other things being equal, that is. When folks answer questions about what is most important to them, you can usually take them at their word. We can rest assured that folks would not accept a higher salary to work in hell. And, when they say that they would leave for more money, one can assume that they would take the job with a reasonable degree of confidence that the answers to the above five basic questions are "yes."

If it was just about salary, talented IT executives would simply change careers and become CFOs. After all, you could add 50% to your salary. I say this because I went comparison shopping at Salary.com to compare CIOs to CFOs. While Salary.com obviously has a different data set than InformationWeek's, and doesn't offer data for a job called "CIO" or "chief information officer," they do offer "top IT executive" data and call their category "chief information technology officer" -- close enough. Their data for the top IT exec showed a median salary as $192,000, with CFOs weighing in at around $300,000.

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What conclusions can we draw from all of this?

If you're the CIO's boss, note that retention and motivation isn't just about compensation, although compensation matters.

If these five things matter to CIOs, it's not too much of a leap to say that they probably matter to staff. And, they likely matter to your most confident and employable staff, if you catch my drift. HR is busy crunching numbers to make sure that your salaries are reasonably close to industry. But only IT leadership can help with the big 5.

When hiring, do your best to express that the answers to the five basic questions are yes. Perhaps the best way to do this is to expose your candidates to others in the organization who seem reasonably happy, and allow the interview process to be a two-way street.

Finally, the most basic question of all is this: Why do we have people working for our organizations in the first place? To merely show up and do as asked? Or to do something on a higher level? We all want the next Steve Jobs or Linus Torvalds to launch from our organizations, but just how do we get there?

I would suggest that the thinking of positive psychology pioneer Abraham Maslow provides a good way to frame this question. Maslow studied how exemplary people became that way, and theorized that there is a hierarchy of basic human needs. That is, once humans get past physiological and safety needs (which salary could be said to be a part of), only then can humans focus on higher goals and achieve "self actualization" higher purposes, whether that's doing work that earns a Nobel Prize or inventing a transformative product like the iPhone.

We constantly ask IT folks to focus on higher-purpose business goals outside of infrastructure. It's not such a leap to ask those who manage IT folks to focus on higher purposes as well. Is it?

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bdieringer370
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bdieringer370,
User Rank: Apprentice
5/8/2013 | 5:55:19 PM
re: What IT Staffs Want More Than Salary
Multiple references to the 5 basic questions, but only 4 are listed: 1) Am I being listened to? 2) Does my work matter? 3) Is my work presenting an interesting challenge? and 4) Am I working for people that I respect and like and who seem decent?
Laurianne
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Laurianne,
User Rank: Author
5/8/2013 | 9:05:04 PM
re: What IT Staffs Want More Than Salary
You're right. We boiled five factors -- "My opinion and knowledge are valued; Involvement
in setting company strategy and determining goals; My work (job) is
important to the company's success; Challenge of job/responsibility; and
Corporate culture and values" down to 4 questions. Sorry for the confusion.

Laurianne McLaughlin
InformationWeek
jfeldman
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jfeldman,
User Rank: Strategist
5/8/2013 | 10:55:52 PM
re: What IT Staffs Want More Than Salary
That's exactly what happened. I consolidated the questions and then didn't update the count of questions. D'oh! Thanks for the catch!
MyW0r1d
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MyW0r1d,
User Rank: Strategist
5/10/2013 | 4:28:59 PM
re: What IT Staffs Want More Than Salary
I would only point out Figure 42 of the IT Salary Survey for executives which is entitled Reasons for Seeking a New Job. In each category of CIO, CTO, and VP, occupying the number one position by at least a 20% margin and exceeding 60 percentile of the respondents is Higher Compensation. When responding to multiple questions on a survey, one is bound to include some questions where a few respondents will answer as they think is a desired and honorable response. However, there are a few key questions that undeniably indicate the underlying feeling. Consider this with the response of 35% that would not accept a lesser position or title under any circumstance (Figure 43) and I would say if there is not a great deal of confusion, that the majority are not truly in it for the company's benefit which is a secondary motive to make the workplace enjoyable, and that they are somewhat cognizant of the political implications of their answers. This isn't to say they should feel alone, there are a number of CEOs that feel the same and would not relinquish without help (see JCPenny in 2013).
ChrisMurphy
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ChrisMurphy,
User Rank: Author
5/10/2013 | 8:54:44 PM
re: What IT Staffs Want More Than Salary
You're right that the money matters, and that anyone trying to hire or retain must keep in mind that they have to be competitive on pay before they get a chance to win on the other factors.
Andrew Hornback
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Andrew Hornback,
User Rank: Apprentice
5/12/2013 | 12:24:45 AM
re: What IT Staffs Want More Than Salary
Honestly, I'd like to see clear vision and leadership as well as a career path with an organization more than money at this point.

When management doesn't deliver a clear message or a clear vision as to what the future of the organization (whether as the entire company or as a department/division), it becomes very hard to keep morale up.

Titles and salary are great, but if you can't tell me whether or not we're making and supporting widgets or fiddlesticks next week...

Andrew Hornback
InformationWeek Contributor
2014 US Salary Survey: 10 Stats
2014 US Salary Survey: 10 Stats
InformationWeek surveyed 11,662 IT pros across 30 industries about their pay, benefits, job satisfaction, outsourcing, and more. Some of the results will surprise you.
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