As companies become more complex, they need more C-level executives to manage the organization’s various functions. While most people are familiar with the role of a chief executive officer (CEO) or chief financial officer (CFO), companies are increasingly hiring for more creative C-level roles, such as chief technology officer (CTO), chief information officer (CIO), and chief human resources officer (CHRO). In the future, larger corporations will need to adopt an even larger number of C-level roles, such as the following:
Chief Freelance Relationship Officer
More than a third of the American workforce is considered contingent, diversified, temporary, or freelance. Experts expect that this figure will only continue to increase in the years to come. Many companies reach out to freelance and contingent workers for cloud-based labor, highly specialized tasks, or other functions. Soon, companies that rely heavily on freelance workers will need a C-level executive in charge of handling relationships with existing freelancers and developing a great reputation within the community so that the organization can attract more talent in the future.
Chief Privacy Officer
As services continue to migrate to the cloud, companies must store increasing amounts of private data about their customers. Companies have a responsibility to keep this data safe, especially if they do not want to face a press nightmare. Privacy has become a major issue as organizations come under fire for collecting and even selling data related to customers. The chief privacy officer oversees the company’s internal data, whether it is related to the public or the organization’s own operations, and ensures that it is as secure as possible. With security becoming an increasingly complicated matter, more companies will look for C-level executive capable of dealing with it.
Chief Cloud Officer
In recent years, the cloud has revolutionized the way in which companies work. Organizations can hire people to work from the cloud and store their data off-site so that it is both protected and accessible from anywhere that an Internet connection is available. The chief cloud officer would work closely with a chief privacy officer to ensure the security of information stored on the cloud, and this professional would also be in charge of setting up and maintaining cloud services on behalf of the company.
Chief Social Media Officer
Companies today need an online presence if they hope to survive. Through social media, companies can reach out to potential customers, interact with existing ones, and even seek out new talent for the organization. LinkedIn, Twitter, and Facebook are just a few of the many options available to companies to promote their unique brands.
The chief social media officer would have multiple roles. Of course, the individuals would produce content for these sites and maintain a consistent brand across them. The individual would also play a role in training employees about how to use these sites in both professional and personal capacities.
Chief Compliance Officer
When companies want to expand overseas, they must deal with a number of compliance issues. A failure to research and respect these laws can result in serious fines and even the dissolution of the company. The chief compliance officer makes sure that all trade across borders is done according to the rules. Some companies that operate internationally a great deal have already appointed this sort of C-level executive, and the need for this professional will only grow as globalization continues.
Chief Data Officer
Distinct from the chief information officer (CIO), the chief data officer works very closely with the other executives to analyze metrics and identify new ways of making the company more profitable. New technologies have allowed companies to record an unprecedented amount of data, and much of it goes unused. This professional needs deep analytical skills to harness big data and use it to improve workflow. The executive would have responsibility for recruiting talented analysts, as well as making recommendations to other senior managers.
Chief Intellectual Property Officer
The rapid innovation of the technology industry has made intellectual property law complex and overwhelming for a number of companies. While companies are primarily focused on wading through laws and patents to ensure that they comply, they will also need a C-level executive who can protect the company against infringement and pursue legal action when issues arise. While patent officers create protection for ideas, they do not have officers to enforce those rules. Instead, companies are left to defend their own intellectual property.
Chief Innovation Officer
Some companies, especially in Silicon Valley, have already appointed chief innovation officers. In the competitive modern marketplace, innovation often determines who rises to the top and who fails. Innovation applies not just to products, but also to customer engagement, marketing, and several other aspects of business. This executive is charged with spearheading interesting and unique campaigns, as well as recruiting people who have radical, industry-changing ideas and providing them with the tools they need to engineer the future.