Source: Strategyzer
In the past 20 years, the “Chief” titles burgeoned into every part of the organization in many companies and into emerging roles that once would’ve been for individual contributors only. Why this is happening?
- Very often, new technologies will drive demand for the creation of a new C-level executive. For example, Chief Digital Officer and Chief Security Officer.
- For a lot of startups, they do not have big pocket like the big companies. It is cheaper for them to offer a bigger title than trying to compete on salary.
- C-Suite title is a status symbol for many people. We are all humans and we all want to look good in front of friends and family members. Having a lofty title will impress a lot of people.
- In the past two decades, the number of public companies has declined by 50%. And many public companies have streamlined their companies to reduce the number of layers of management. As a result, there are fewer top management positions. Giving out C-Suite title is a cheap way to make the employees happier and keep them with the company.
- Many companies are giving out the chief titles to signal the importance of a particular issue to the company. For example, with so many data breach happening now, many companies recognized the importance of security. As a result, many companies created the Chief Security Officer to signal that security is important to the company. In some cases, companies use the “Chief” title to signify the strategic nature of the job. Read More...
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