COOs act as the second-in-command to the CEO, making their role vital to the overall success of the company. COOs can fulfill this role in a variety of ways. Common types of COO include the executor, who carries out strategies and delivers daily results, and the partner, who co-leads to boost effectiveness.
Unfortunately, COO often struggle to live up their full potential due to a lack of adequate training and support. In fact, many COOs don’t even have a standard job description or official title. This creates a lack of clarity about the role that can inhibit success.
Other obstacles persist for COOs. For example, COOs often struggle with employee turnover and digital transformation initiatives. They can also lose top performers and have to scramble to find replacements, or deal with unengaged and uninspired teams.
COOs need modern tools to address modern challenges. Coaching is one of these tools. It can have a huge difference, improving clarity, accountability, and success. In fact, coaching can increase individual performance by 70%, and can lead to a return on investment of up to 788%.
Peer groups are another powerful solution. These groups can improve decision-making skills, increase accountability, enhance innovation, fuel constant learning, and increase goal attainment.
Although COOs struggle with a wealth of challenges, there are ways to support them in finding success. Modern solutions can equip COOs with useful tools, translating to company-wide efficiency and profit.
Source: Diane Integrates