Everyone knows the major role a CEO plays in a company, but fewer people understand the significance of a COO. A chief operating officer is typically in charge of the daily operations of a company, and the duties required of this role can vary widely between businesses. The COO role is often seen as the right hand of the CEO, and the position usually exists to alleviate everyday management tasks from the CEO’s shoulders. With the general operation details designated to a COO, the CEO has more time to dedicate to big-picture aspects of the business, like long-term strategy and efficiency solutions.
The COO can be a vital role to any company but what exactly makes a great COO? The various roles played by a COO are so numerous and ever-changing that companies need to find a true chameleon to fill the position. If you’re hiring for a COO, you’ll likely be looking for a candidate with a unique set of skills that set this leader apart from the rest of the group.
Those skills should include being:
The role of a COO is often changing and evolving as the business ebbs and flows, which is why a top COO needs to know how to adapt to various situations and strategies. The COO can also play a variety of roles within a company from the executor of business strategy or managing a major organizational change to simply complementing the skills and experience of the CEO. Whatever role the COO is initially brought in to play in your company, the ability to adapt to new responsibilities and situations will be a major benefit.
A COO needs to handle the day-to-day operations of a business, but they also need to understand how those small details impact the larger business strategy. Attention to detail is one characteristic that will help a COO keep everyone on-task and in line with company deadlines. People who are less detail-oriented might understand the big picture of your company but will have a harder time keeping all of the plates spinning as the finer details of running a business are lost.
A great COO understands running a business is a team effort. In most cases, the COO is not only working closely with the CEO but is also managing heads of various departments and regularly checking in with various teams to ensure production is running smoothly. A true team player COO will smoothly work alongside the company CEO, complementing his/her work style and skillset. Further, a great COO will understand the value of credit and praise to other managers, supervisors, and teams within the company. A COO who can acknowledge the hard work others put into the company will be able to build employee loyalty and increase employee satisfaction.
Every company needs at least one person in the c-suite to be a data-driven leader. It’s too easy for people to get carried away by “instinct” or a “gut feeling.” For a business to be really successful, decisions need to be based on data-driven information proving which choice is the best option. A COO with a data-driven mindset is the voice of reason when board members are trying to push an initiative based on business politics or mere hunches. By requesting data-backed evidence for a proposal, a great COO can redirect a company’s investments toward more worthwhile projects.
A COO role isn’t for the faint of heart. This position is second in command of the company and will require a strong leader to successfully manage the job. Business deals, strategies, partnerships, and various other aspects of business do not always go smoothly. When the company hits a bump in the road, you need a leader who can navigate the situation with professionalism and start looking for solutions to the problem. A top COO will be able to face difficult situations and quickly recover from any setbacks or failures the company experiences.
Demand for capable COOs is growing as the role of the CEO becomes more and more complex. Companies need someone who can balance out the CEO position by bringing a wider skill set to the table and lightening the responsibility of upper-level management. The value of the position should not be underestimated, and if you’re looking to add a position to the c-suite of your company, a COO role is an excellent option.
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The chief operating officer of a company is a senior executive level position typically second in command to the chief executive officer. A COO is responsible for managing the day-to-day operations of your business and works to execute the company’s overall business plan. In most cases, the COO handles the internal affairs of the business so the CEO can focus on external communications.
The role of COO is meant to complement the skillset and responsibilities of the CEO. The person who fills this role should be highly experienced, with at least 15 years of experience within the field. This time spent climbing the corporate ladder has taught them everything they need to know about managing the administrative and operational functions of your business.
Since the COO works so closely with the CEO, determining which candidate fills the role is vitally important to your company. You need someone who can not only excel as the company’s chief operating officer but who you can easily work with on a day-to-day basis. To help you make the right choice, we’ve compiled 15 important questions you should ask when interviewing a COO.
A good COO candidate will have taken the time to research your company and fully understand what you do. If you receive a vague or general answer to this question, that’s a sign the candidate isn’t fully prepared for the interview.
You want to make sure the communication and decision-making style of the COO aligns with how your company works.
The COO is going to managing your internal teams so you want to make sure this person knows how to motivate employees to get the work done and hit all of your milestones.
A COO is going to be giving a lot of feedback to your employees, and you will have to give feedback to the COO. Listen carefully to the candidate’s feedback strategy to make sure it jives well with your company culture.
This question is meant to test the COO candidate to see how they think on their feet. It also will give you a sense of their creativity as well as their personality.
You want to make sure the COO you choose will fit your company. Listen to what their ideal idea of company culture is to determine if your ideas align.
Gauge how the COO thinks they will mesh with your company culture and why. It’ll give you insight into their impression of your office as well as how they see themselves fitting into the workflow.
If the COO’s personal goals don’t align with the company, they probably won’t be planning to stick around too long. Make sure the goals align so you can have confidence in the COO’s commitment to the business.
The COO and CEO work very closely together. The two need to be on the same page about how the relationship will work. This question will give you an idea of what the COO expects from the company’s CEO.
Disagreements are inevitable in any business setting, so you need to understand how the COO handles office disputes. Pay attention to what caused the disagreement in the story as well as how the two resolved the matter.
Uncover key insights about candidates’ background and experience with these questions, designed to distinguished the mediocre from the great options for the role of a chief operating officer.
A COO could have a perfectly reasonable explanation for jumping companies. Listen to the explanation and use that to determine whether you think this candidate will stick with your company long-term.
You want to make sure your COO can handle any challenge that comes their way. If the COO you’re interviewing hasn’t faced any big challenges, it’s best to keep looking. You want someone with the experience and fortitude to handle any big issues that may arise.
This is a really interesting question that tells you two things. One, it gives you insight into how much the COO candidate really knows about your company, and two, it gives you an example of what kind of ideas you can expect from this COO.
A COO should have certain standards and measurements in place that they use to track progress within departments and the overall company. Listen to the types of metrics used and determine if they’re the best ones for your business.
You want to know what programs and metrics the COO relies on when preparing forecasting reports. Consider how the COO’s method will impact and work for your company.
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Cowen Partners has put together a list of COO Qualifications for client companies. The chief operating officer (COO) is a senior executive tasked with overseeing the day-to-day administrative and operational functions of a business. The COO typically reports directly to the chief executive officer (CEO) and is considered to be second in the chain of command.
Cowen Partners has a strong record of identifying and recruiting Chief Operating Officers for public, private and non-profit organizations. Contact us if you would like to discuss recruiting an exceptional COO for your company.
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