Chief Operating Officer (COO) is a crucial position that plays a very important role in coordinating and operating the business. To better understand the scope of work as well as the skill requirements of this senior position, please follow the article below by Navigos Search.
1. Who is a Chief Operating Officer?
A Chief Operating Officer (CCO) is a senior HR position who is responsible for running the day-to-day operations of a business and reporting to the Chief Executive Officer (CEO).
In Vietnam, we often hear about the position of CEO rather than COO because COOs only appear in "extremely large" businesses and corporations with the purpose of "sharing" a huge amount of work for the CEO.
The Chief Operating Officer is the Chief Executive Officer's subordinate and is responsible for assisting the CEO in running the business. If you consider a business as a person, the CEO is the "head", and the COO is the "arms". Therefore, without one of these two positions, large enterprises cannot operate smoothly.
COO - Chief Operating Officer
2. The role of a COO
Sometimes, the title of COO is not really clear in many businesses in Vietnam, so it is difficult to list in detail the tasks list they are in charge of. For you to have a clearer view of the scope of work of the Chief Operating Officer, Navigos Search summarizes the main roles that a COO must undertake as follows:
Develop and implement operating policies for businesses
In an enterprise, the Chief Executive Officer (CEO) alone cannot formulate all policies and regulations wisely. In the role of a consultant and subordinate, the Chief Operating Officer will assist the CEO in formulating and implementing the appropriate and effective operating policies to steer the business boat to stronger growth.
Execute CEO’s strategy
There is a reason behind the fact that the Chief Operating Officer is considered an effective right-hand man of the CEO. The Chief Operating Officer will be able to understand the values that the CEO is aiming for, and convey that to other department managers in the business. At the same time, the COO also runs and executes specific plans to implement the strategy given by the CEO.
The role of a COO in a business
Supervise and manage the company human resources
For long-term sustainable development, besides financial and technological resources, enterprises need to actively implement appropriate human resource management strategies towards common goals. Therefore, effective monitoring and management of human resources is essential.
The Chief Operating Officer (COO) will discuss with the Chief Human Resources Officer (CHRO) and the Chief Financial Officer (CFO) to develop policies and human resources appropriate to the allocated budget of the business. At the same time, focus on developing a streamlined human resource apparatus and creating work motivation for each employee.
Be the connection between employees and the company
An enterprise that aims to develop sustainably and effectively needs to make the most of the collective strength. Therefore, the Chief Operating Officer will assist the CHRO (Chief Human Resources Manager) to build a good corporate culture to promote work morale and engage employees in the company.
3. Requirements for a Chief Operating Officer
Because the nature of this position is to have a close relationship with the CEO, the ability to cooperate well is a prerequisite for a Chief Operating Officer. In addition, the following skills are also required:
Leadership skill
As a senior leader of the enterprise, ranked second highest after the CEO, the Chief Operating Officer needs to have excellent leadership skills to be able to direct and manage the work of the departments and divisions under.
Financial planning skill
A Chief Operating Officer must have basic skills in financial planning in order to have the right direction and make sound decisions about the financial goals of the business. A financial plan is a comprehensive document including cash flow, savings, debt, investment, ... of a business. Having the skills to set up a financial plan, the COO will map out a clear development strategy for the business. Therefore, the Chief Operating Officer must have a solid knowledge of financial matters, practice and learn constantly to hone his skills.
Organizational skill
As a senior personnel of the business, the Chief Operating Officer needs to have organizational skills to ensure that all activities of the business meet the business goals. The ability to organize well and scientifically will help the COO build a plan to monitor the projects of the enterprise and grasp which employees are in charge.
Thereby, assessing employee productivity and detecting gaps to promptly replenish personnel. To do this, the Chief Operating Officer must constantly learn, research and accumulate experience from real situations or learn from his CEO.
Human resources management skill
Good human resource management skills will help COO give accurate instructions in the management of human resources of the enterprise, ensuring maintenance and improvement of work performance as well as productivity. At the same time, building a healthy and safe working environment for all employees. The ability to effectively manage human resources is also a measure to evaluate and confirm the role of a Chief Operating Officer in an enterprise.
In order to have good human resource management skills, the Chief Operating Officer needs to constantly learn and cultivate his ability to communicate, organize, and be updated with modern technology. Only then will you have the ability and courage to stand firmly in this position.
Soft skill
Besides the above requirements, the Chief Operating Officer must also have other important soft skills such as: communication, time management, corporate governance, goal setting, problem solving, planning, coordinate resources, inspire and motivate their employees, ... to be more successful.
Requirements for a COO
4. Salary range of a COO
COO is a management position only ranked after the CEO and has to take on many important tasks in the business, so the salary is very high. Average salary ranges from 30 to 80 millions/month. This number will have a difference due to the difference in the nature of the job, scale, business field and also the popularity of the business.
5. Recruit Chief Operating Officer at Navigos Search
With high-level personnel positions such as Chief Operating Officers, it is often difficult for businesses to find suitable candidates. This makes the recruitment process take a long time and consume a lot of human and material resources. Or if the candidate is recruited, the candidate does not meet the requirements, the enterprise will have to spend more on recruiting and training personnel from the beginning.
Currently, to successfully recruit senior personnel, businesses tend to choose reputable headhunter companies. These companies have a large pool of talent hunters with very potential candidates. The birth of headhunter companies is considered as the key to the salvation of businesses in recruiting high-level and quality personnel because of many benefits:
- Shorten the time of recruiting
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- Absolutely keep confidential of all recruitment information
- Recruit a whole team of quality staff through hunting senior personnel
- Reduce recruiting & training time
- Greatly access to passive candidates
- Ensure safe operation system
- Ensure the security of human resources in all situations
- Save a great deal of recruitment budget
- Get advice on the current labor market
See details: Great benefits when businesses recruit personnels through headhunter
With more than 20 years of experience and a large team of headhunt experts who are very experienced and knowledgeable in the labor market, Navigos Search is the leading provider of high-level human resources in Vietnam.
Navigos Search belongs to Navigos Group, which owns the number 1 recruitment website in Vietnam - Vietnamworks. With a huge database of 375,000+ senior candidates and more than 5,000,000+ accounts from data VietnamWorks has become a rich resource for headhunters to support clients in all industries.
Navigos Search - The most prestigious headhunter unit today
In addition, the working process here is very strict, consistent and highly confidential, ensuring the best quality information. All of these factors have helped Navigos Search reach new heights in customer service quality, leading in the field of recruiting mid- and senior-level personnel in Vietnam.
To select the most senior and qualified candidate for the position of Chief Operating Officer, please contact us at the following address:
- HCM Headquarters: 20th Floor, e.town Central Building, 11 Doan Van Bo, Ward 13, District 4
- Hanoi Branch: V. Building - 125 Ba Trieu street, Hai Ba Trung District
- Hotline: 1800 585 826
- Email: contact@navigossearch.com
- Website: navigossearch.com
- Fanpage: facebook.com/NavigosSearchVietnam
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