The role of the CDO is being discussed more than ever before. Although the role has existed for the past 20+ years, job boards and LinkedIn were not as prevalent, and therefore the role did not have much exposure outside organisations. When you think of the CDO job title, I think the word ‘data’ would spring to mind for most people, because shouldn’t data be the main driver of most decisions made by the c-suite?
However, it appears to be that the modern CDO is becoming less about pure data, in contrast to other analytics and business intelligence roles who are predominantly technical (refer to my previous blog on the ambiguity of analytics and business intelligence), and more of a holistic role encompassing areas like risk, compliance and even marketing.
Of course, as a senior executive, strategy and operations will play a huge part of the role, as they do in all board level roles however, it may be worth noting the possibility of the role of a CDO being diluted. If I put myself in a candidate’s shoes, someone who has always had a data driven role and then opts to take on a new challenge of CDO, would they miss the lack of focus in their previous position, or would they welcome the change?
I think the answer is in why the person might take a CDO opportunity. For example, if you have reached a plateau in your role as ‘Business Intelligence/Analytics Director’, and your only means of career progression is to take a CDO role, then you possibly would not enjoy the variety of the role. For others, a route that has direct progression into a more strategic role, that delves away from the pure technical work that was once pivotal to their career may be deemed as a step in the right direction.
So, a question to my network… is the role of the CDO a clear career step for a data professional, and should it stay as an all-encompassing position, or be more data driven?
Employees in the United Kingdom can be categorised as full-time, part-time, casual, freelance and contract workers, with the self-employed bracket now making up 15% of the entire working population. The number of self-employed workers jumped from 3.3 million in 2001 to 4.8 million in 2017, with a corresponding fall in the unemployment rate showing the overall boost in jobs growth from the rise in self-employment. However, the attractive market for freelancers and contractors has been hit with some uncertainty in recent times, thanks largely to the 2018 Autumn Budget’s announcement of IR35 tax reforms. Here’s what the new IR35 rules could mean for you and your business: What is IR35? IR35 is a piece of legislation originally introduced to the UK in 1999. Its purpose is to differentiate between those workers who operate as genuine contractors and those who work as ‘disguised’ employees to avoid paying tax. It came about to challenge contractors who were taking advantage of the tax efficiencies of working through a limited company, with the aim of defending both the Exchequer from lost taxes and protecting workers’ rights from unscrupulous employees. However, the IR35 has proven to be ambiguous for many, with some contractors taking advantage of loopholes and a lack of clarity. Hence, the new IR35 rules aim to tighten up the contractor market and ensure tax avoidance loopholes are closed. How does IR35 work? There are three principles that can help to determine employment status and whether a contractor falls inside or outside IR35: Control (the degree of control the client has over the work a contractor does and how and when they do it) Substitution (whether the worker needs to do the work themselves or if they could send a substitute in their place) Mutuality of obligation (whether the employer is obliged to offer work and the contractor is obliged to accept it). Additionally, the contract type, provision of equipment and whether a worker is “part and parcel” of a business can all help to determine whether someone falls inside or outside IR35. The change in IR35 rules shifts the responsibility to determine tax status away from the contractor and onto the business that takes them on. Until now, contractors have been able to self-determine their status, however as of April 2020, when the new rules come into effect for the private sector, companies will risk being fined if they don’t make the correct assessment. How will IR35 impact contract workers? It’s anticipated that many contract workers who have been enjoying the tax benefits of working outside IR35 will fall under the legislation when employers are tasked with determining their status. This will see more contractors having tax and National Insurance contributions deducted from their pay. However, if you operate as a legitimate small business and are determined to work outside of IR35, you will not be affected by the rule changes. How will IR35 impact employers? The major change for businesses is that they will now be responsible for determining the IR35 status of any contractor working for the company. The new rules will only apply to medium and large sized businesses, so contractors who work for small businesses can continue to set their own IR35 statuses. Those businesses that the IR35 rule changes do apply to will face paying back taxes and fines should they be found to be noncompliant. What should I do to prepare for IR35? Contractors may wish to speak to an accountant or personal finance expert to determine whether IR35 will impact them and if a move to permanent work may prove to be more beneficial after the rules come into effect. For many, contracting will remain appealing regardless of increased tax responsibilities, however it’s important to factor in any change in income that IR35 may bring about. Businesses are being warned not to make blanket assessments that cover all their contractors, as this can leave workers without a fair assessment and risk them paying unnecessary taxes without equivalent employment rights. Instead, businesses should consider IR35 status on a case-by-case basis or they may risk losing out on top talent. The HMRC has released a consultation document for businesses to prepare for the IR35 changes, recommending identifying and reviewing current contract workforce status and putting processes in place for taking on new workers. At Marks Sattin, we pride ourselves on keeping abreast of all industry legislation, updates and changes that affect our candidates and clients. Speak with us about how we can help you. References: https://www.bbc.co.uk/news/business-44887623 https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/articles/trendsinselfemploymentintheuk/2018-02-07 https://www.contractorcalculator.co.uk/what_is_ir35.aspx https://www.axa.co.uk/business-insurance/business-guardian-angel/how-ir35-changes-will-affect-freelancers-and-self-employed-contractors/ https://www.telegraph.co.uk/business/ir35-rules/new-contractor-tax/ https://www.telegraph.co.uk/business/ir35-rules/how-will-new-rules-impact-business/ HMRC consultation document
An overwhelming 76% of people believe robots or AI devices could replace them at work, or at least do 50% of their job. While this is not entirely unreasonable to think, it suggests that our workforce may be experiencing tunnel vision - focusing on the negative impacts that AI and robotics will have rather than seeing the potential it will unlock for them. In truth, technology will claim a lot of tasks and this will affect employees in all sectors, some more than others. Thankfully, within the technology sector, AI will allow professionals to become more creative, upskill and reduce the monotony of their job. To do so, technology professionals must exhibit adaptability and consider how they can collaborate with robotics and AI.Robotics and AI are a threat to some, but not allMcKinsey predicts that 49% of tasks completed by the global workforce have the potential to be automated. One of the reports key takeaways is that robotics and AI are expected to automate 49% of activities, but not the entire job - currently very few jobs could be entirely transferred to robots. The first technology jobs we’d expect to become automated are ticket routing and data entry, but that still leaves data protection, IT analysis, cloud services and many more roles safe from being automated any time soon. The report lists ‘accommodation and food services’ tasks as most likely to become automated with a likelihood of 73%, ‘finance and insurance’ tasks gain a score of 43% while ‘information’ ranks far lower at a likelihood of just 36%. Assuming this assessment to be correct, only a third of information-based activities will fall into the hands of robots. The tasks less likely to be reassigned to robots are those requiring interaction with stakeholders, the use of judgment to make decisions, delegation and creativity. The broad spectrum of these activities reassures us that most jobs will remain in human hands, but the question remains - how will robotics and AI impact the workload of technology jobs? Time will tellThe pace of technological development is exponential: in just five years the cost of a lab-grown meat-free burger dropped from £215,000 to £8. However, when it comes to AI and automation it will be decades before we begin to see the full potential. PwC quantifies this view, reporting that only 3% of jobs risk becoming automated in the early years of this decade, but that jumps to 30% by the mid-2030s. Currently, technology can outperform humans regarding information retrieval, large-scale motor skills and optimisation but we’re only just understanding the emerging applications of AI as it becomes more sophisticated. According to McKinsey, one factor that will delay the adoption of AI in the workplace is the “cost of developing and deploying”. While there is a relatively high possibility of restaurant jobs becoming automated, the decision will depend on the costs associated, considering cooks in the UK earn an hourly wage of £7.83 on average. Therefore, it may not be cost-effective for some time to replace kitchen staff with robotics or AI, at least until the price of this technology drops below the cost of labour. Now consider the technology sector where general IT staff earn £21.81 hourly and this rate rises significantly for managerial roles and architects. It becomes more appealing to replace employees in roles where there is a higher labour cost associated, but don’t forget that information tasks are less likely to become automated. So, though the threat of robotics and AI to technology jobs may appear real, there is still ample time for professionals to adjust to the changes. How robotics and AI will reshape jobs within technologyA recent Deloitte report found that 82% of large UK companies are adopting AI yet just 15% are ‘seasoned’ implementors. The rapid pace at which technology is developing is creating an AI skills gap. Evidently, this is not a threat but an opportunity for IT professionals. Though, as AI becomes more sophisticated, its role will transition from simple automation to software development. Companies such as Data Robot and H2O.ai have matured their AI tools so they can write code - a task that just years ago we thought was far too complex for a machine to perform, but the introduction of bottom-up AI helped it become a reality. While top-down AI aims to pre-programme a machine with every layer of human cognition, bottom-up trains technology to build complex understanding from a foundation of simple methods. The good news is that using this approach, AI software - such as TabNine - can now suggest possible endings for code and thereby boost a developer’s productivity. This just one example of how AI can be used to reduce monotony and free up time for technology professionals. What can a robot do that you can do better?Robotics and machine have their limits, though they are closing the gap when it comes to particular skills, and in some instances, they are outperforming us on tasks where we naively thought we’d always have the upper hand. Technology professionals must demonstrate to stakeholders and upper management their ability to navigate and direct within the dynamic technology landscape. To do so they must identify which aspects of their role are easily automatable, then innovate the process. In the face of automation, technology professionals have the chance to take actions that will influence the future of their company and become more valuable employees than ever. Working with robots and not againstCollaboration is key here. Those who learn how AI can transform their work and use it to their advantage will earn the most valuable technology jobs. It is an opportunity for programmers, software developers and project managers to upskill and reduce the monotony of their work. In light of the changes that are taking place, technology professionals must become technology advisors, learn to speak the language of robots and, most importantly, nurture workplace relationships. Discover where you can take your career with Marks SattinAt Marks Sattin, we have been working with specialist IT talent for over 30 years. Our established team of IT recruiters have a well-earned reputation of being proactive and meticulous in their approach to sourcing top talent. For more information on how we match candidates with the right client, contact us. Browse our latest technology jobs or view vacancies in our other specialisms, including financial services and commerce & industry.
Content TypeMarket Insight Reports
Financial Services Last year was challenging for the interim financial services change and transformation market, with clients implementing new restrictions on contract tenure and showing caution around non regulator-driven spending. As a result, we saw a significant amount of contractors flooding the market, and far fewer opportunities available for them to transition into. Clients became more and more specific around skill set requirements and less flexible with their expectations, due to the surge in available talent. This also meant we found ourselves dealing with longer processes and more interview stages than previous years. Commerce & Industry The rise of GDPR related initiatives dominated Q1 last year, with clients desperately trying to be compliant for the May 25th deadline. Project/programme managers were in high demand, which was reflected in premium rates and increased levels of interest among contractors in these specialist roles. On average, GDPR change professionals were earning 15-20% more than professionals with similar experience working outside of GDPR programmes. It was also noticeable that many non-GDPR roles in Q1 2018 were short term − other projects and programmes seemingly took a back seat while programme teams focused on the GDPR deadline. GUEST AUTHOR: Seddons Solicitors If we are to believe the statistics, flexible working is the winning ticket. For employees, it is often now a key consideration in any job move that agile working will be part of the package. It may also be a factor in why they are seeking a new role in the first place. Most businesses too are keen to fl y the flag of flexible working, recognising the allure it has for potential new recruits and the positive, forward-thinking message it can send out about their business. While it may be secondary to the impact it can have to a businesses’ bottom line, if office space can be forfeited or used more resourcefully, flexible working at face value seems a wholly positive initiative. Read more on this guest author piece here. Download the full Change & Transformation 2019 Market Insight Report » View salaries and commentaries in other UK regions and Ireland »
£25,000 - £28,000 per annum + Remote working
Commerce & Industry
£25,000 - £30,000
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