How are C-suite roles changing?

How are modern business trends changing c-suite roles?

CREDIT: This is an edited version of an article that originally appeared on Robert Half

Have you ever had the role of CEO explained in plain terms? Or figured out the difference between a chief information officer and a chief technology officer? The C-suite might be the highest management level, but many people still don’t fully understand who they are or what they do.

Here’s everything you need to know about exec level management, including their place in the business hierarchy and what each role does. We’ll also reveal which exciting new C-suite level positions you can expect to see in the future.

The seven top C-suite positions and their functions

Chief executive officer (CEO)

The CEO is the head of the company. As the name suggests, they oversee all executives in the senior management team. The CEO is responsible for establishing and maintaining company culture and is tasked with directing the company towards achieving targets set by the board of directors. The CEO is the face of the company, and acts as a representative to the public, the shareholders, and the board of directors.

Chief marketing officer (CMO)

The CMO is responsible for all marketing and advertising within the company. They set and oversee marketing strategies and allocate advertising budgets. The CMO nurtures, leads and develops the company’s  sales funnel, and manages marketing channels, tools and infrastructures.

Chief technical officer (CTO)

The CTO oversees the company’s technology architecture. They ensure company tech is aligned with its goals and priorities and are responsible for honing any systems/technology sold by the company. 

Chief information officer (CIO)

A CIO manages the company’s IT infrastructure. The CIO differs from a CTO in that they have a more internal focus — they ensure smooth business operations with appropriate IT systems and act as the face of the IT department.

Chief financial officer (CFO)

A CFO runs the company’s finances. Their responsibility is to guide the company in relation to its financial strengths and weaknesses. They oversee financial planning, cash flow, accounting, and all financial reporting.

Chief human resources officer (CHRO)

The CHRO supports the business’ plans and strategies by acquiring, retaining and safeguarding its talent. It’s their responsibility to build satisfactory remuneration and compensation packages, and to guide career development and training for staff.

Chief compliance officer (CCO)

A company’s ability to comply with regulatory requirements, laws, procedures and policies rests with the CCO. They are subject matter experts responsible for advising and guiding company actions. The CCO reports directly to both the board of directors and the CEO, and liaises with regulators on behalf of the company.

The future of the C-suite

The pandemic has ushered in a new normal with regard to the world of work. Tech adoption and hybrid workplace models are growing, causing C-suite roles to evolve. Boards are opting to introduce new, executive-level, positions to meet the future of work head on.

Chief digital officer (CDO)

Hiring of CDOs is on the rise, with many considering the role to be an evolution of the chief information officer. A CDO is responsible for the rapid deployment of digital transformation projects. They fuel business growth by identifying new opportunities in the shifting digital landscape and by supporting continued innovation in alignment with business goals.

Chief happiness officer (CHO)

Billed as ‘an HR officer with a specialism’, CHOs have been on the rise since the start of the pandemic and have seen significant overlap with the director of remote work role. CHOs are tasked with improving employee satisfaction and wellbeing, collecting employee feedback, and advising other C-suite executives on how to foster happiness and satisfaction within their teams.

Chief automation officer (CAO)

According to the IBM Global AI Adoption Index, over a third (35%) of global companies have adopted artificial intelligence (AI) – and that figure is rising. It’s no surprise, then, that companies are looking to bring expert representation into their executive teams. 

A CAO will plan, implement, and manage AI initiatives to help push the business towards its goals. They’ll be responsible for increasing organisational efficiency and breaking down silos. Like the CHO, the CAO is another specialist executive role geared toward the future of work.