CEOs receive support from various individuals throughout a company.  For example, COOs act as the second-in-command and help CEOs.  More specifically, COOs step in when the CEO feels overwhelmed or isn’t getting enough done.

More than 40% of the world’s leading companies have a COO.  However, many of these COOs are filling the role without the title or a standard job description.  True COOs are rare; in fact, there are four entrepreneurs/CEOs to every one COO.  This leaves more than half of CEOs without a true COO to rely on. 

COOs also face modern challenges that limit their progress.  Externally, COOs have to deal with worker shortages and employee turnover, compliance functions, digital transformation initiatives, and more.  Internally, common problems include a lack of clarity about the COO role, changes to the company’s vision, and a chaotic work environment. 

Modern solutions are required to fix modern problems.  Luckily, these solutions exist.  Coaching can make a huge difference in COO performance.  In fact, coaching can boost individual performance by 70% and team performance by 50%.  Peer groups are another way to support COOs.  These groups have recurring meetings, which reduce harmful biases in decision-making, raise the chance of goal attainment by 95%, and inspire new ideas.  

When properly trained and prepared, COOs can elevate a business to new heights.  Modern challenges exist, but there are solutions that will allow COOs to thrive.

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