07 Jul How do you become an executive? Where are the best executive jobs? Here’s how to become an executive and secure the best job.
Where To Find The Best Executives
Where To Find A Job As An Executive
An executive is responsible for planning, directing, and coordinating the operation and growth of a company. They create policies, procedures and strategies for staff to follow so the company can meet its goals for the month, quarter, half year, full year and beyond.
It is the responsibility of the executive team of a company to cut costs and improve revenue and profitability of the company for shareholders. They do this by analysing company:
- Forecasts and budgets
- Sales reports
- Financial statements (profit and loss and Balance Sheet)
Executives are also involved in negotiating contracts and agreements, and they oversee the hiring of key Managers and Department Heads.
The size of the company dictates how involved they are in the running of the company. A large company will require its executives to focus on strategic planning and formulating policies, whereas a smaller company may require its executives to be more involved in hiring, training and development, supervising staff and purchasing.
Executives travel country wide and internationally if needed to ensure company goals are being met.
Executive jobs are in high demand because of the prestige associated with the position and the high wage executives receive.
Chief Executive - What Is A CEO?
The Chief Executive Officer (CEO) is the head of the executive team of a company. They are answerable only to the Board Of Directors. Through the rest of their executive team, they oversee the daily operations of the company.
A CEO makes critical decisions, including critical financial decisions that could grow or cripple the company. This makes it imperative for a CEO to build a strong experienced and competent executive team underneath them who they can rely on, to steer the growth of the company.
Chief Operating Officer
The Chief Operating Officer (COO) is head of the operational details and functions of the company. Their job is to ensure the company is running smoothly and can deliver its products or services consistently, even in times of high demand.
They track and measure company operations to ensure things stay on track to reach the company goals.
A typical Chief Operating Officer Job Description is first and foremost to support their CEO. Ultimately the Chief Operating Officer will usually become the Chief Executive Officer, so the COO is required to support the CEO to run the company.
A Chief Operating Officer Salary is negotiable and is set between them and the CEO.
The President of a company can be required to cover a large range of duties. There is no agreed job description for a company President. Every company decides what their President should be responsible for and oversee.
To Become A Company President
Look At These Company President Jobs
Chief Financial Officer
A Chief Financial Officer (CFO) is responsible for the finances of the company. They are usually a trained accountant and create budgets and financing strategies. They create and keep track of company financial systems that monitor the financial health of the company. These include Budgets and financial statements such as Profit and Loss and Balance Sheet.
A Typical Chief Financial Officer Job Description will include keeping track of the company financial health using various systems, tools and reports such as:
- Cash flow analysis
- Profit and Loss statement
- Balance Sheet
A Chief Financial Officer Salary will depend on the size of the company and the experience of the CFO.
You Can Find Chief Financial Officer Jobs Here
Chief Marketing Officer & Marketing Director
A Chief Marketing Officer (CMO), also sometimes called the Marketing Director, heads up the company marketing activities. In the past it has been the Vice President of the company who has had the responsibility of what is now mostly called the Chief Marketing Officer.
Corporate strategy often depends on the marketing strategy so the CMO is responsible for knowing the ‘market’ the company is in, the marketing activities of competitors and developing the most effective marketing strategies for the company.
A Chief Marketing Officer needs to know their product or service, their market and competitors. They are required to put in place reporting systems that collect market feedback to their current marketing strategies, so as to implement, fine tune and optimise the company’s go to market strategy.
Chief Technology Officer & Chief Information Officer
The Chief Technology Officer (CTO), sometimes called the Chief Technical Officer or Chief Technologist is responsible for the technology of the company.
The Chief Information Officer (CIO) has the same role or very similar to a CTO. The CTO is responsible for the company’s technology infrastructure so that they align with the company goals and objectives. A Chief Information Officer is more hands on and tends to work more closely with the company’s IT staff to perform everyday functions.
Finding The Best People - C Suite Executives
As an employer or company owner, some of your key decisions will be who to place in your C Suite. The right people will grow the company. The wrong people could do damage to the company, its brand or even put it out of business.
Potential new executives for your company can be found in the right places. You won’t find your new hires by advertising in newspapers. They can be found on professional sites that are specifically for matching staff to jobs.
C Suite Executives can have a large impact on the company, both positive or negative, so when you are interviewing keep in mind your aim to employ the best person for the job and keep them for the long term. So make sure they are:
- Experienced in the role or have the skills and experience to step into the job. You can do this by speaking to people who they have previously worked with.
- Someone their subordinates will go the extra mile for. Ideally, someone with great interpersonal skills is what you’re looking for.
- Is the person you’ve interviewed someone with integrity? Or are they someone who just tells you what you want to hear?
- Are they a fast learner? The job may require them to learn about your company, its products and services and oversee staff and systems they have not been exposed to before, so they need to be able to learn quickly.
Your new hire may seek equity in the company in the form of shares or options as part of their package. Instead of offering this upfront, consider a vesting period for options. This gives you flexibility. If your new executive doesn’t work out, then you don’t want to have them as a shareholder, particularly if you are a private company.