As you grow, knowing who to hire for which position is a common pain point for many businesses. Understanding the roles and what makes them important to your business is vital. Let’s take a moment to discuss the COO (Chief Operating Officer) position.
Chief Operating Officer
One of the oldest roles in executive management positions is the Chief Operating Officer (COO). The COO is often considered the second in command next to the Chief Executive Officer (CEO) or President. Their responsibilities are decided by what the organization needs, but often include tasks like:
- creating and executing company strategy
- daily operational efficiency
- overseeing the success of major projects
- acting as a partner for the CEO
- personnel oversight and ensuring teams deliver key results
With an understanding of what the position entails, you can now ask, “how can a Chief Operating Officer add value to my business?”. Here are a few key ways a COO contributes to your team.
As a business grows, the daily operations and functions can be handed off to a COO rather than being on the CEO’s shoulders to allow more time for the CEO to focus on strategy, external relationships, and other essential responsibilities.
A COO has the opportunity to hone in on communication breakdowns, improve systems throughout the organization, and help keep everyone on the same page.
More Effective Management
Being in a position to not only work on managing operations but also on increasing efficiency, the COO has a unique set of duties to benefit your business.
Company strategy and key initiatives are funneled through to the COO so they can prioritize and oversee the execution of all projects and goals.
When a CEO leaves, having someone who is fully versed in the organization’s daily workings and vision in line as a successor can ease that transition and timeline.
The benefits listed are only a few that hiring a COO can offer your team and organization. Empowered Leadership helps businesses find freedom through business coaching, executive coaching, assessments, and training. If you need help fostering better communication within your business or administering DISC assessments and training, I’d love to chat and help guide you. Click on the button to contact me.