Recent months have seen quite a few CIOs retiring; many of them started their careers a really long time back, growing from technical beginnings and successfully transitioning from the role of EDP Manager to a CIO over more than last 3 decades. The next few years will see many more ready to handover to the next generation of younger aspirants. The subject of succession planning suddenly comes to fore raising questions where the transition had some impact on the organization. We discussed that some time back in “Succession Planning for the CIO”.
So what do retiring CIOs do ? Do they just fade away from the limelight gradually or in a jiffy just like that as if someone pulled the plug and in an instant from the next day there is a blackout? Or there are opportunities they can pursue to continue adding value to enterprises, younger CIOs, academia, may be consulting? Probably all of this and a lot more; what are the options a CIO can pursue after putting in 30+ years into the industry ? Should we just let go of the rich experience?
Almost 8 years back, I met a retiring CIO from within the CIOs I knew, a few months before his D-day. The conversation naturally veered towards plans post retirement. His face lit up as he talked about his plans post retirement from the 9-6 grind as he described his passion and involvement in a NGO close to his home town to contribute to the education of the underprivileged. There was obviously a clear vision of the future and that had nothing to do with his current role in a large Pharma company.
Beginning of last year, I came across a surprise New Year message from a CIO who had disappeared from the scene quietly and no one had a clue where he might me. He was running a small consulting organization focusing on specific technology and domain thus working with a few customers providing them with the insights gained from his experience. It became evident that he had planned for this day and was satisfied with the continued usefulness and revenue it generated.
Then there are many who pursued academic interests joining institutes as full or part time faculty; some decided to become freelancers on specific subjects like ITIL, COBIT, etc, which require experienced hands to bring out the context for the students by relating instances and anecdotes from experience.
Retirement is another phase of life which requires planning and preparation; you cannot stumble upon these opportunities after reaching the milestone which says “Stop”. It’s almost like a new job; except, in this case, there is no formal job (there are exceptions where CIOs have continued as consultants in the same company or joined other enterprises); but the accountability is to self first and then to the task.
The ranks of the new age CIO are raring to go with new skill sets for the new era of computing with a fabric of social media and clouds linking these across the ecosystem internally and externally. They are ready to challenge the grey hair with less technology, more business, and say what matters, effectively. If you are contemplating retirement in the next 5 years, if you have not yet started, get started now!