The position of the Chief Operating Officer (COO) is unique. Many c-level staff positions change slightly based on the nature of the company, but according to a 2006 Harvard Business Review article by Nathan Bennett and Stephen Miles, the COO is especially flexible. This is because it literally differs from business to business, with each company taking their own approach.
While this can be positive for your business, it makes it potentially difficult to find a strong candidate because there are fewer set definitions to proceed from. That means it's all the more vital to find someone who matches your business' needs and is ready to do whatever you need them to.
Bennett and Miles write that the COO is a direct reflection of the type of CEO a company has. They also list seven different roles the COO can take on, including the simple "executor," the CEO's partner or even a mentor for a CEO in need of guidance.
In any situation, the COO is likely to have many responsibilities. The article's authors identified the need for communication and respect between the COO and all other executives, and ended by noticing a lack of COO's in the modern business environment overall.
"The easy mobility of top talent means companies must find ways to hold on to their most valuable non-CEO executives," they write. "The COO title can be effective in staving off wanderlust. In light of these trends, it's surprising that COOs are not more common."
The key thing for businesses big and small to remember about COOs is that there are options for how to position this role, which means adapting it to suit them. If a recruitment team finds someone who would be a suitable "second in command" to the CEO, the position can be structured that way. Alternately, the COO role could be a chance to familiarize the person with the company and "groom them" to become a CEO eventually.
No matter what you need the COO to be, executive search consultants will help you find the person who matches your requirements.
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