The CEO of a company enjoys extensive support. However, it is also important that the individuals who support the CEO are set up for their own success. Unfortunately, a key figure in the corporate world, the COO, often lacks sufficient guidance and resources, which can have cascading effects throughout the company.
Over 40% of major companies around the world have a COO but without a standard job description. This causes many individuals to fill the COO role without a title. The lack of a set title and job description results in unclear duties, hindering overall success.
COOs face other challenges as well. They encounter massive pressure but lack the training to properly deal with this pressure. This results in COOs failing to effectively allocate their time. Many COOs only spend ⅓ of their time on long-term strategic planning. Instead, they focus on employee and operational priorities.
To address these problems, companies need to provide better support for COOs. This might look like COO coaching, which can improve clarity and accelerate results. It could also look like peer groups, which involve ongoing meetings that can improve decision-making processes and enhance innovation.
COOs strive to support the CEO, but they also need support of their own. Dedicating time and resources to training COOs is key to streamlining company efficiency.
Source: Diane Integrates
