Given the changes in how businesses operate in the current climate — made exceptional by the COVID-19 pandemic and its continuing effect on employment, finances, the global supply chain, and health and safety protocols — day-to-day operations in many cases are also changing, sometimes on a weekly or monthly basis.
The backbone of operations-on-the-ground is the administrative and organizational system in place plus the chief operations officer is responsible for the systems that guides operations day to day.
While national and global companies on the Fortune 500 and S&P 500 have decreased their use of COOs — from about 48% in 2000 to 36% in 2015 — seeking a flatter organizational structure as one reason, this may not be an effective move in the long run for businesses of all sizes.
The administrative system in place “ensures that leaders make the most of their limited time, that information arrives at the right point in their decision-making process, and that follow-up happens without their having to check,” Harvard Business Magazine cited in 2020.
So the COO takes on different roles within a company, directing traffic on the ground so the leader and senior team, so can focus on the bigger picture. The COO may assume responsibility for:
Connecting work streams and processes for efficient integration.
Communicating leadership directives to the broader organization.
Providing unvarnished truths when leaders need a full spectrum of views.
Acting as a confidant to leadership without an agenda linked to the company.
Because a successful business demands the ability to change and adapt in time with the increasing economic, social and political changes, COO skills can be critical in maintaining company goals and growth.
But how can this role fit when companies need to become flatter and more streamlined than ever to compete? Boost Midwest finds using a fractional chief operations officer is the answer for many small and mid-size businesses.
“We really focus on those actionable changes and become a partner with our clients,” President, Marie Stacks explained.
A fractional chief operations officer can be used at any level that a business requires for process improvement, internal communication, strategic planning, and brainstorming.
And the best time to outsource these skills to a fractional chief operations officer is before change — or trouble — arrives.
Is your business in need of a fractional COO? Here are the top signs that point to “yes.”
You spend more time working in the business than on the business.
You feel overwhelmed with the day-to-day demands of operations.
You already know your leadership team needs strengthening.
Your company needs to increase its scale of operations.
As leader of the company, you are its visionary. Operating as a fractional COO, Boost Midwest has helped businesses focus on their vision by handling the administrative and organizational challenges that arise that fit with the company’s greater goals.
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Ready to learn more about how Boost Midwest can help you optimize your project management and operations? Schedule your free consultation call with us today using our Quick Schedule Link here.