(from
Canadian Business Magazine)
CEO's, CFO's, CIO's, CTO's and COO's all have broad and fairly well-defined roles and responsibilities; sometimes too many responsibilities. There are duties that a CxO should perform as part of their role that often get pushed down the list of priorities, to the detriment of the company and employees.
Michael Stern, an Executive Coach, has come up with seven positions that need be filled to ensure that CxO's can carry on with their regular roles. I've summarized them here, since the article is not online:
Chief Binding OfficerI'm not sure about the name of this role, but this person would be responsible for retention. Retaining existing workers is much cheaper than the cost of recruiting and training a new worker. This person would make sure that salaries are in line with expectations, projects don't get buried in bureaucracy and that resources are available to accomplish project objectives. Just telling someone that their success is important to the company
before they are standing in your office handing in their resignation is extremely valuable.
Chief Results OfficerA CRO would be the person that motivates, encourages and helps others to take responsibility for their projects. This is a "no excuses" person who creates teams that support each other and holds them to their success. This is a very positive position where creativity and communication are king. The rest of the management team also must stand, deliver and be accountable.
Chief Value OfficerThis person makes sure that "value for money" happens at all levels of the firm. Whether it's cutting costs to ensure that budgets can be met or convincing others that extra money spent on a more senior hire versus a cheaper junior hire is valueable, the CVO is looking out for the best deal. Ensuring value is distinct from ensuring lowest cost. Success means knowing how to pinch pennies, when to do it and when not to.
Chief Communications OfficerInternal marketing is often pushed down the priority list. It takes a long time to ensure that messages are on point and that both good and bad information are presented evenly. However, in the absence of good information, bad information is assumed. A CCO can be the facilitator of good news, ensure that successes are celebrated and commit to consistent transparent communication, leading to more engendered trust.
Chief Swot Officer"Has anyone seen that Strategy Document? No? Ok, lets do a new strategy." The transactional nature of business means that longer term strategies are harder to keep an eye on. There may be a management retreat that outputs a document, but often measuring progress against it is foregone for fighting the fires of today. The CSO would keep an eye on competitors, how the company is delivering value to customers, trends in the marketplace and how the firm is behaving according to agreed strategies.
Chief Chocolate OfficerThis person doesn't have to be in charge of all the chocolate (mmmmm, chocolate), but they do have to be in charge of ensuring that project teams are taken care of in their daily work, regular rewards are given out for exemplary efforts and in the process monitoring employee morale. It's often easier to criticize or ignore as "regular work" but "little things mean a lot".
Chief Flat OfficerThe "Flat" part of this title refers to
Thomas Friedman's book The World Is Flat. CFlO's look out for the larger trends, looking forward to where the business is going. Open Source and CrowdSourcing are great examples of new methodologies facing business. How does your business fit into that paradigm? The CFlO will know.
To me, the central themes running through these roles are: communication, visioning and accountability. These roles are often being played by one person but they can become overwhelming in the light of higher priority matters. Even parsing out these responsibilities to part-timers (especially those interested in more full-time management positions in the future) would be beneficial.
I really enjoyed
Michael's article and thought others would appreciate it too.