The Emergence of the CCO-Plus™
Since 2019, the role of Chief Communication Officers (CCOs) has undergone significant transformation, evolving into what I term as “CCO-Plus™” This concept combines communication with broader corporate affairs, human resources, marketing, investor relations, government relations, public policy, and ESG (Environmental, Social, and Governance) efforts. The CCO-Plus is our term to describe the expansion of job responsibilities of those leading corporate communications into new business areas, begining with the 2019 Senior Corporate Affairs Summit hosted by SAP, Inc in Hudson Yards. The growth and adoption of the CCO-Plus role across various industries, company sizes, and employee counts highlight its increasing importance and relevance. Here are some of our supplemental findings from our survey with The Conference Board, published in their 2022 Corporate Communications Practices study.
Characteristics of the CCO-Plus™ Role
The CCO-Plus™ role is defined by several key characteristics:
- Integrated Strategy: Combines traditional communication functions with broader strategic responsibilities, including corporate affairs and risk management.
- ESG Focus: Emphasizes environmental, social, and governance factors, aligning corporate communications with sustainability goals.
- Operational Influence: Plays a significant role in shaping organizational strategy and operations, often reporting to top executive leadership.
- Cross-Functional Expertise: Requires diverse skill sets, including HR, marketing, ESG, and general business acumen.
Adoption by Company Size (Revenue)
Table: CCO-Plus™ Presence by Company Revenue (The Conference Board, Corporate Communication Practices, 2022)
| Company Size (Revenue in Billions) | Total Companies | CCO-Plus™ | % CCO-Plus™ |
|---|---|---|---|
| Under 1 B | 27 | 7 | 26% |
| 1 B to 9.9 B | 81 | 26 | 32% |
| 10 B to 24.9 B | 49 | 11 | 22% |
| 25 B to 49.9 B | 20 | 10 | 50% |
| Over 50 B | 21 | 0 | 0% |
| Total | 198 | 54 | 27% |
Insights
- High Adoption in Medium-Sized Companies: Companies with revenues between $25 billion to $49.9 billion have the highest adoption rate at 50%, indicating the value of the CCO-Plus™ model in these enterprises.
- Growing Presence in Smaller Companies: Companies with revenues under $1 billion and between $1 billion to $9.9 billion show significant adoption rates, demonstrating the model’s relevance for smaller enterprises.
- Challenges in Large Enterprises: Companies with revenues over $50 billion have yet to adopt the CCO-Plus™ model, suggesting potential barriers that need to be addressed.
Adoption by Number of Employees
Table: CCO-Plus™ Presence by Number of Employees (The Conference Board, Corporate Communication Practices, 2022)
| Number of Employees | Total Companies | CCO-Plus™ | % CCO-Plus™ |
|---|---|---|---|
| Fewer than 1K | 8 | 4 | 50% |
| 1 K – 9.9 K | 51 | 12 | 24% |
| 10 K – 24.9 K | 49 | 13 | 27% |
| 25 K – 49.9 K | 32 | 9 | 28% |
| 50 K – 99.9 K | 34 | 11 | 32% |
| 100 K or Greater | 24 | 5 | 21% |
| Total | 198 | 54 | 27% |
Insights
- High Adoption in Smaller Teams: Companies with fewer than 1,000 employees show a high adoption rate of 50%, highlighting the model’s flexibility in small teams.
- Consistent Presence Across Employee Ranges: Adoption rates are consistent across companies with 10,000 to 100,000 employees, indicating broad applicability.
- Lower Adoption in Very Large Teams: Companies with more than 100,000 employees have a lower adoption rate, suggesting a need for tailored strategies for large organizations.
Industry-Specific Adoption
Table: CCO-Plus™ Adoption by Industry (The Conference Board, Corporate Communication Practices, 2022)
| Industry | Total Companies | CCO-Plus™ | % CCO-Plus™ |
|---|---|---|---|
| Aerospace & Defense | 5 | 0 | 0% |
| Banks | 6 | 2 | 33% |
| Capital Markets | 7 | 3 | 43% |
| Chemicals | 8 | 0 | 0% |
| Commercial Services | 5 | 0 | 0% |
| Electric Utilities | 5 | 2 | 40% |
| Food Products | 7 | 4 | 57% |
| Health Care Equipment | 5 | 0 | 0% |
| Health Care Providers | 5 | 0 | 0% |
| Hotels, Restaurants & Leisure | 4 | 2 | 50% |
| Insurance | 7 | 5 | 71% |
| IT Services | 6 | 0 | 0% |
| Life Sciences Tools & Machinery | 6 | 0 | 0% |
| Oil, Gas & Consumable Fuels | 7 | 3 | 43% |
| Pharmaceuticals | 5 | 0 | 0% |
| Software | 4 | 0 | 0% |
Insights
- High Adoption in Insurance and Food Products: The Insurance industry leads with a 71% adoption rate, followed by Food Products at 57%, demonstrating the strategic value of the CCO-Plus™ model in these sectors.
- Moderate Adoption in Capital Markets and Electric Utilities: Adoption rates of 43% and 40% in these industries highlight the importance of integrated communication strategies in regulated sectors.
- Opportunities in Low Adoption Industries: Several industries, such as Aerospace & Defense, Chemicals, and IT Services, show no adoption, indicating opportunities for targeted outreach.
Conclusion
The CCO-Plus™ role has demonstrated significant growth and adoption across various industries, company sizes, and employee counts since 2019. Its integration of traditional communication functions with broader strategic responsibilities makes it a valuable asset for organizations navigating today’s complex business environment. By leveraging these insights and addressing adoption barriers, companies can enhance their strategic communication capabilities and achieve better outcomes.
What You Can Do Next:
Unlock the full potential of your corporate communications strategy with the CCO-Plus™ model. Don’t get left behind—transform your approach today!
- Download the Industry Report from The Conference Board: If your company is a member of The Conference Board, you can download the full report from their website.
- Join the Conversation: Connect with industry leaders and peers to discuss the future of the CCO-Plus™ in corporate affairs and communications. Join our newsletter. Follow us on LinkedIn. If you are a CCO expanding with a Plus, reach out about our Senior Corporate Affairs Summit, the premier gathering of those in the CCO-Plus role.
- Schedule a Consultation: Ready to implement CCO-Plus™ in your organization? Schedule a free consultation with our experts to get started. Click here to book your session.
