How to Cut Costs by Hiring a COO

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An operational (executive) director is a manager who organizes and controls the execution of the company's daily tasks. The CEO sets the bar, sets global tasks, while the operational COO (Chief Operating Officer) is obliged to create conditions for the implementation of the plan. The ability to understand all internal processes, delegate responsibilities to subordinates and take on the routine of the production cycle are the job responsibilities of a company's top manager.

Key tasks of the COO
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As a deputy general director, the manager independently sets tasks for the team, monitors the quality of execution and is responsible for the final result. In addition to official responsibility, there is financial responsibility for decisions made to the general director of the organization. The chief executive must have an idea of ​​the direction of the company's virtual phone number service activities, be an experienced practitioner and be able to achieve the best results.

The manager's responsibilities include the following tasks:

creation of an effective personnel management scheme;
management of the production process until the final result is achieved;
planning a strategy for changing existing business programs and opening new directions;
control of financial flows and distribution of funds among projects taking into account the importance and level of return;
participation in the formation of the budget and control over the implementation of approved plans;
resolving disputes with counterparties, customers and government organizations taking into account the interests of the company;
increasing profitability, reducing costs and optimizing the structure’s operations.
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The COO must regularly monitor the company's vital indicators and identify cause-and-effect relationships between them. The top manager's responsibilities include monitoring the fulfillment of obligations to supervisory organizations, checking regular reporting. He can conclude employment contracts, issue orders and perform other local functions.

Unfortunately, many managers, during a period of relative stability, so to speak, "lose their grip." They are not so decisive in implementing new ambitious tasks, often find themselves unprepared to take responsibility and move toward clearly defined goals, and most importantly, it turns out that they are not ready to change the strategy to ensure that the company stays afloat. It is for these reasons that owners increasingly decide to change top managers during a crisis. You must agree that this is a very reasonable strategic decision in the long term.

How to optimize expenses and costs
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First of all, a top manager is required to be efficient, which has always been ensured by the operating director.

The ability to act in accordance with strategy promptly and flexibly, yet economically, without counting on immediate results; to take responsibility without resorting to the pre-crisis manner of “it’s not my fault if I didn’t do anything.”

The ability to work effectively in a short period of time while keeping focus on long-term strategic planning goals will be especially valuable.



reorganize the internal structure, carry out personnel changes and change the personnel behavior model;
hire experienced and in-demand specialists, change the production chain, remove duplicate or unnecessary stages;
increase attention to quality advertising in all areas, including the professional and consumer niche;
pay attention to the strength of relationships, loyalty and customer satisfaction, offer attractive models of cooperation;
introduce new principles of the business project: issue of shares related to production assets, participation in tenders and auctions;
create an optimal marketing plan and launch startups that will take the structure to a new level of development.
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According to our forecasts, in the short term, companies will increasingly turn to the services of professional anti-crisis managers, but in six months, when business begins to gradually recover from the effects of the pandemic, the demand of business owners will shift to "merchants" - commercial directors, sales directors, with the functions of development directors. Which is quite logical, because the demand for the development of new products will increase, marketing and sales will have to be built anew. The demand will also increase for technical directors capable of modernizing production, and for HR and development directors.

Obviously, top managers with the above qualities do not appear out of nowhere. Especially during a crisis. They are already working for the benefit of some company, and no one plans to let them go.

What should a business owner do?
The shortest way to achieve the goal is to use the services of consultants who are capable of implementing complex projects to attract top managers, who are impossible to find and lure using conventional recruiting techniques.

The Administrative Resource team consists of consultants with experience in running their own business and practical industry expertise. This helps to understand the specifics and needs of the business, attract the best specialists who can effectively manage your business.