Chief Operating Officers: The CEO Secret Weapon

Every employee within a company supports the CEO, but the second-in-command position is often a vital role in their success. This position is known formally as the COO, or the chief operating officer, but some people filling this role do so without a title. Nearly half of the world’s top companies have a COO, with a very fluid job description. What this person does often complements the needs of the CEO, depending on the state of the company and leadership team strengths.

 There are seven recognized types of COOs across the world’s most prominent industries: the MVP, the executor, the heir apparent, the change agent, the partner, the mentor, and the other half. Some of these positions are more hands-on than others, but most COOs will share three consistent attributes: Acuity, organization, and process and structure. Possessing these qualities and the ability to push the company towards success is a must for this type of role. Because of this, true second-in-command employees are very rare. In fact, for every four CEOs in a given industry, there is only one true COO, leaving 75% of entrepreneurs without that right-hand person.

Despite these difficulties, there has been a recent resurgence in COOs, rising up to 16% between the years 2018 and 2022. However, in order to support this, companies have to invest in their COOs and in training them. Without this training, companies risk losing up to 30% of their revenue annually due to inefficiencies. Some internal and external modern challenges for optimizing COO performance include worker shortages, lack of clarity in the role, and changes in the company vision and priorities. Because of these challenges, there is a need for an update in the tools that are used to train COOs properly. People in these roles also must lean into their responsibilities, remaining motivated to accomplish necessary goals. With these changes, the future for COO roles is bright, with the ability to change the landscape of modern workplaces for the better. Learn more about COO coaching in the infographic below:

Everyone Helps The CEO, But Who Helps The Second in Command?
Source: Diane Integrates

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