6 Ways a Chief of Staff Adds Value to Your Business
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For some companies, a Chief of Staff (CoS) can be a bit of a mystery.
Sure — most leaders understand that a CoS is a senior leader who combines strategic planning and laser-focused execution. Countless companies that have adopted this role have seen the impact it can have on the effectiveness of executive teams.
However, those companies that haven’t considered the role might find themselves wondering what exactly a CoS does and — more importantly — how it adds value to the organization. While the job description varies quite a bit depending on the organization and the executive they serve, a CoS tends to create value in a few consistent ways.
How a CoS Creates Value
1. Enhancing CEO Productivity
A CoS is an extension of the CEO, helping to consolidate communication channels and streamline decision-making. While a CEO is typically stretched for time or running from meeting to meeting, a CoS is more accessible and can be useful in prioritizing messages. Where appropriate, they can also make decisions on behalf of the CEO (provided they have a clear directive from the chief executive).
This role also helps the CEO prioritize their work, focusing them on the activities that drive the most significant impact on the business. And if another member of the executive team has an urgent priority, the CoS can ensure it gets in front of the CEO with speed.
2. Facilitating Strategic Planning and Execution
A CoS plays a crucial role in supporting the development of strategy and often oversees the broader execution across the business. They facilitate the implementation into different departments or functions to ensure that the end result aligns with the overall visions or goals of the project.
By monitoring progress through key performance indicators and project milestones, a CoS helps keep strategic initiatives on track. Their oversight ensures the harmony of every team towards a common objective.
3. Enabling Insight-driven Decision-making
A CoS acts like a hub for knowledge, helping to centralize information from across the organization. This supports the overall efficiency of work, enhancing decision-making and providing useful insights and analysis.
This empowers leaders to navigate the complexity of a project and leverage the resources they need to get their work done. Finally, the CoS works cross-functionally to coordinate different activities in a way that is tough to achieve from within a department.
4. Fostering Executive Engagement
A CoS plays a critical role in the overall engagement and coordination of the executive team, leading team-building activity and overall cohesion. They are critical to supporting executive development as they have deep access to all the individuals on the team.
Where appropriate, they can also serve as an unbiased contributor to decisions on leadership succession and readiness within the organization.
5. Providing a Bridge During Leadership Transitions
A CoS can be a critical resource in supporting leadership changes in the organization, providing continuity between transitioning executives. Due to their proximity to leadership decisions, these individuals possess deep institutional knowledge.
For an incoming CEO, they are a critical asset in understanding the nuance and history of the companies they now lead. From the organizational perspective, it reduces the turbulence often experienced with a change in leadership.
6. Creating a Talent Pipeline to Senior Leadership
Becoming a CoS can be a critical development experience for aspiring leaders. This role has access to the highest level of the organization and provides an opportunity to learn from senior leaders.
For the right individual, a CoS role can be a fast-track to GM of a sector/region or COO. Alternatively, the CoS role is an opportunity for senior individual contributors with the capability of working at the top levels, but who aren't interested in people management.
Why the Chief of Staff is a Must-have
A Chief of Staff can be a pivotal asset to your business, fostering communication and collaboration, managing key projects, nurturing talent, and providing invaluable counsel.
By bridging the gap between vision and reality, a CoS ensures that your business remains agile and efficient, embracing a strategic partner who can ensure sustained growth and success in an ever-evolving business landscape.
Interested in unlocking the value of a Chief of Staff role for your business? Contact Tim Hewat at tim.hewat@lhhknightsbridge.com to learn more.
About the author:
Tim Hewat is Head of Executive Search, North America, LHH Knightsbridge. He and his team support Executive Search within the Technology and Digital Transformation Practice, helping clients to find and transition the top leadership talent they need to unlock their full potential.