Sydney-based global CIO for Colgate-Palmolive Co. Barry Simpson said a "command and control" structure doesn't work for this generation.

"They need an environment where they can question and challenge the status quo and make the best use of their skills and energy," Simpson said.

"We also have to accept that Generation Y will not stay in the same job forever so we need to manage that expected turnover; I expect the shortage to continue to be a struggle."

Simpson is the latest in a long list of IT leaders to join the council which has more than 75 CIOs on board.

At the council's recent board meeting, CIOs agreed to visit universities and high schools to offer students cadetships. A television commercial promoting IT careers is also in the works.