A Few Things About The Chief Operations Officer's Job
All organizations need to have a definite hierarchy in order to work in an organized manner. They have people working at the bottom ranks who are supposed to carry out the orders and the ones at the top management level who take all the strategic decisions. These top level managers are also known as the executive officers. Of all these high posts, the chief operating officer's post is one of the most responsible ones. They are the people who are supposed to see to it that all things are done well in time and in the rightful manner. After the Chief Executive officer, it is the Chief Operational officer who runs the system.
It is ensured by the COO that all processes are carried forward smoothly and all obstructions in the way are dealt with either by him or with the help of the higher authorities. They have the right to delegate the work to the subordinates and also to the other managers working in the firm and man power acquired by peo services. This position has a lot of powers but it comes with a cost. There is a lot of travelling involved as the different locations need to be inspected. They are responsible for everything happening and it is their duty to bring out the best in the people. Most of their times is spent in the office trying to come out of tricky situations and choosing the best path forward. For them, succeeding is the biggest challenge as that is what they are paid for. In this path of success, there can be many sacrifices that might have to be made for which the company pays them huge sums of money as their pay.
For those who plan on becoming a Chief Operational Officer (or even becoming a CEO), the path is not easy. They need to excel in their field and should have a degree in business management with top grades. The climb up the ladder starts at a very low level. With time, the ladder can be climbed until the right height has been reached. The numbers of job opportunities are limitless as more and more companies crop up. If the right attitude is present and the skill to delegate work is known, the sky is the limit. In the recent years, the numbers of posts for the COOs have increased exponentially with more vacancies being reported on a regular basis. As the employment opportunities grow and more firms open up, the numbers would only further increase.
It is possible that the same firm may have more than one COO. This depends upon the scale at which they operate. A small firm can do with only one officer holding this post, but a multinational company indulging in more than one product requires one for every country and if required for every product. Their average annual pay exceeds $150,000 in all countries across the globe. Apart from that, there are several perks like personal cars, house, insurance etc. which take care of their security and day to day needs.