What does a COO Chief Operating Officer do?
COOs are typically employed at large and mid-size corporations as the second-in-command on their company’s executive team who oversees all of an organization’s activities and ensures that the existing business infrastructure has the capacity to achieve the company’s strategic goals. COOs hire and train business administrators who create organized systems for completing their department’s key functions. Their role is to identify the essential structure of the business and assess its efficiency as the company grows, meeting increased product demand without sacrificing profitability. COOs are the main point of contact for their company’s key suppliers.
COO Chief Operating Officer skills and qualifications
The Chief Operating Officer does not just typically carry out orders for their superiors. They create the operating procedures that the whole company will follow. A successful COO will usually have these prerequisite skills:
- Exceptional track record of leadership
- Superior project management skills
- Resourceful and analytical with exceptional communication skills
- Understanding of all facets of business
- Outstanding public speaking and interpersonal skills
- Knowledge of IT/business infrastructure
- Aptitude in problem-solving and decision-making
- Understanding of analytics and performance metrics
COO Chief Operating Officer salary expectations
The average salary for a Chief Operating Officer is $119,545 per year. The salary of the Chief Operating Officer varies with the responsibilities and size of your business. Typically, they will be offered a full benefits package and in some cases extra compensation through stock options, relocation assistance and retirement plans. They also average an additional $25,000 per year through profit sharing.
COO Chief Operating Officer education and training requirements
Most businesses require at least a bachelor’s degree or 10 years of experience for the Chief Operating Officer position. Some smaller companies are looking for as little as 3 years in a compatible leadership position. Various companies also require a master’s degree in business or a specific field relating to the hiring company.
COO Chief Operating Officer experience requirements
The average experience requirements for a Chief Operating Officer is 2 to 7 years at the executive level of another company with a proven track record of success. The majority of companies are looking for a highly qualified candidate who has specific job experience in the same type of business they are hiring for.
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