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Second in Command: The Chief Behind the Chief

Ep. 393 - Q&A from CEOs & COOs: Changing Titles and Changing Pay Plans

Second in Command: The Chief Behind the Chief

Second in Command with Cameron Herold

Entrepreneurship, Business, Management, Careers

4.5 • 1.6K Ratings

🗓️ 2 July 2024

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In today's episode of the Second in Command, Cameron discusses a bold organizational overhaul that reshaped roles and titles across a rapidly growing company. 

You'll hear the story of a strategic decision to reevaluate and retitle all 600 employees of a company in a single day. This move aimed to align titles with actual job scopes, from VP-level roles down to directors, ensuring clarity and fairness in organizational structure. 

Cameron explores the complexities of compensation tied to strategic insight, P&L responsibility, and autonomy, highlighting the importance of accurate job classification in fostering a cohesive and productive workforce. 

This episode offers insights into navigating organizational growth and maintaining operational effectiveness through decisive leadership actions.

If you've enjoyed this episode of the Second in Command podcast, be sure to leave a review and subscribe today!



In This Episode You'll Learn:

  • Why, in rapidly growing companies, early employees may receive inflated titles like VP without corresponding responsibilities. (1:27)
  • Why it's better to retitle everyone in the organization on a single day to align titles with actual responsibilities. (2:41)
  • The reasons why titles should reflect strategic insight, P&L responsibility, and autonomy. (4:46)
  • The importance of basing compensation on local cost of living and market rates to ensure fairness across different regions. (6:54)
  • The value of clear communication and transparency when making organizational changes to avoid confusion and dissatisfaction among employees. (9:16)
  • And much more...


Resources:

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Transcript

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0:00.0

I'm Cameron Herald, the founder of the Second Command Podcast.

0:03.0

Really quick, before we jump into today's episode,

0:05.0

you need to know about two important ways that we can help you and your company grow.

0:09.0

Number one, check out the COO Alliance.

0:12.0

It's for C.O.

0:13.4

Presidents, BP Ops, or whoever is your company's second in command to the

0:17.2

CEO. The C.O. Alliance is the world's leading community for the

0:21.1

second in command command and it gives

0:22.8

COOs the tools and connections to grow themselves and the company.

0:27.2

Head over to C.O.Aliance.com to learn more about our members and the

0:30.8

results, the program, and our 10X guarantee. If you qualify for

0:35.0

membership you can set up a complimentary call with our team to discuss if it's right

0:38.6

for you. I'll tell you about number two in a bit, but first let's start this

0:42.4

week's episode.

0:44.0

If you gave somebody a VP title when they're a director or you gave them a

0:47.5

C.O title when they're a director and not even a VP it's actually not their

0:52.1

fault that they want more money it's your fault as a leader.

0:55.4

And I see this so often with companies, prior to 2000, to get a C-level title, you to be a major player at a major company.

1:05.0

And Andrew, you remember this.

1:07.0

Back in the late 90s, what was the title that everybody at a bank was getting?

1:11.0

Yeah, the VP.

1:12.0

VPs. Everybody's a fucking VP. You're a VP and you're

...

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