CCO-plus: The Evolution of Corporate Leadership
By Craig E. Carroll, Ph.D., Observatory on Corporate Reputation
August 1, 2024, Reading Time: 7 minutes.
Since OCR began tracking the CCO-plus in 2019, the emergence of the “CCO-plus” has become a defining trend in corporate leadership. With Fortune and Forbes’ release of this year’s Fortune 1000 and Forbes Global 2000, the list of world’s largest companies now has more CCO-pluses than pure CCOs, as listed among the companies’ leadership pages on their websites. CCOs are increasingly taking on responsibilities beyond traditional communication functions, adding roles in HR, marketing, social impact, and corporate affairs to their portfolios. This shift reflects the growing complexity of the business environment and the need for integrated, strategic leadership.
At the heart of this evolution is the recognition that communication is no longer about building or defending the company’s reputation or controlling the narrative. It is about driving business outcomes, aligning diverse functions, and leading the organization through change.
As we reach the midpoint of 2024 Q3, it is worth examining the key drivers behind the rise of the CCO-plus and what it means for the future of corporate leadership.
The Expanding Role of the CCO
The traditional CCO role has always been about managing communication strategies, dealing with crises, and protecting the company’s reputation. However, as businesses face increased scrutiny from stakeholders, regulatory bodies, and the public, the scope of the CCO’s responsibilities has expanded. CEOs now expect their CCOs to have a deep understanding of business strategy, governance, and risk management. They also call upon CCOs to lead initiatives in areas like diversity, equity, and inclusion (DEI), sustainability, and corporate social responsibility (CSR) in times where there are pushbacks and rollbacks.
This expanded role has given rise to the CCO-plus—a leader who not only manages communication but also plays a significant role in shaping company culture, driving business strategy, and navigating the complex landscape of global business.
Why the CCO-Plus Matters
The rise of the CCO-plus is a response to several converging trends:
1. Integration of Functions: In today’s interconnected world, silos are breaking down, allowing for greater collaboration across functions like HR, marketing, and corporate affairs. This shift enables organizations to operate more cohesively and align their strategies with broader business goals. However, while the dismantling of silos is a positive development, it is not without its own set of challenges.
As silos dissolve, a new challenge is silently emerging: the complexity of cross-functional interdependencies. The absence of silos does not automatically translate to seamless cooperation. Instead, it often uncovers an intricate web of interdependencies that were previously hidden or overlooked. These interconnections can create bottlenecks, misalignments, and new forms of friction if not carefully managed. For instance, a decision made in one department, like HR, can have unintended consequences in another, such as marketing or corporate affairs, leading to delays or conflicting priorities.
The real task for today’s leaders, particularly CCO-pluses, is not just to dismantle silos but to skillfully navigate and orchestrate these interconnected systems. This requires a deep understanding of how distinct functions interact and affect one another, as well as the ability to anticipate and mitigate potential conflicts before they escalate. By focusing on this orchestration, CCO-pluses can ensure that their companies fully realize the benefits of integration, driving more cohesive and efficient organizational performance without falling into the trap of overcomplication.
2. Increased Stakeholder Expectations: As businesses face greater scrutiny from stakeholders, there is a growing demand for transparency, accountability, and action on issues like sustainability, diversity, and social justice. Stakeholders expect companies to not only communicate their values but also to demonstrate them through concrete actions.
OCR’s observations of the CCO-plus indicate these leaders are uniquely positioned to address these demands by leading cross-functional teams and ensuring that the company’s messaging aligns with its actions. By integrating communication strategies with broader business initiatives, CCO-pluses can build trust with stakeholders, enhance the company’s reputation, and drive long-term value.
3. The Need for Strategic Leadership: The business landscape is becoming increasingly complex, with challenges ranging from geopolitical risks and economic uncertainty to rapid technological change. In this environment, companies need leaders who can think strategically, navigate uncertainty, and drive innovation.
CCO-pluses are stepping up to provide the strategic leadership needed to navigate these challenges. With their broad oversight of multiple functions, they can see the bigger picture and make informed decisions that align with the company’s long-term goals. By balancing short-term objectives with long-term strategy, CCO-pluses play an invaluable role in guiding their organizations through an ever-changing landscape.
Challenges and Opportunities
The CCO-plus role comes with its own set of challenges. The breadth of responsibilities can be overwhelming, and the need to balance short-term communication goals with long-term strategic objectives is a constant juggling act. Additionally, the CCO-plus must be adept at managing relationships across the organization, influencing without direct authority, and driving change in areas that may be outside their traditional expertise.
However, for those who can navigate these challenges, the opportunities are immense. The CCO-plus has the potential to be a transformative leader, shaping not only the company’s communication strategy but also its overall direction. By taking a comprehensive approach to leadership, CCO-pluses can drive meaningful change, build stronger relationships with stakeholders, and position their companies for long-term success.
Looking Ahead
As we move forward, the role of the CCO-plus will continue to evolve. The integration of communication with other business functions is likely to become the norm rather than the exception. CCOs who embrace this expanded role will be better equipped to lead their organizations through the complexities of the modern business environment.
For CCOs looking to make the transition to a CCO-plus role, the key is to focus on building a broad skill set, developing a deep understanding of the business, and cultivating strong relationships across the organization. By doing so, they can position themselves as indispensable leaders, capable of driving both communication and business strategy.
In a world where the lines between business functions are increasingly blurred, the CCO-plus is not just a new title—it is the future of corporate leadership. For those willing to take on the challenge, the rewards are significant: greater influence, increased impact, and the opportunity to shape the future of their organizations.
