However, many CEOs, CFO jobs, and top level corporate management decide to hire consultants and management coaches that help to make decisions regarding the direction of the company as well. These coaches and company consultants are also sometimes paid very well for their services, but a question that needs to be asked is whether they are really necessary.
The Consultant Benefits
If you're a consultant or management coach then working for a large company that has brand recognition can be great for your resume! Consultants are able to list on their resume companies that are known throughout their chosen industry, discuss the approach that they used to achieve success, and gloat about the track record that they have.
On the flip side, COO jobs or CEOs that have consultants to help them are able to benefit from the expertise of the consultant and rely on their knowledge of how to steer a company.
Problem with Hiring Consultants
One of the major downfalls of hiring consultants to do CEO jobs, though, is that the CEO is being paid in the millions while extra expenses are being spent for the advice of a business or management consultant or coach. In many situations the CEO is not confident enough to do his or her job alone, which is why a consultant is paid. This is a nice arrangement for the consultant, but one of the questions that major companies and corporations need to ask themselves is whether they would rather have a confident CEO or a consultant or coach to do the job.
In addition, survey research has been done throughout many industries when it comes to company policies on hiring consultants to do the work of CFO jobs, CEOs, and CFO jobs. Many times the result of these surveys is that the consultants are the scapegoat in situations where the direction of a company turns sour or some plans for expansion or growth fail to meet expectations.
In these situations, the consultant or management coach is often blamed for the awful job instead of the responsibility being attributed to the Chief Executive Officer or Chief Operating Officer.
Even though there are some legitimate situations in which a management or company consultant should be hired, the majority of them only require competent CEO jobs that can be filled with knowledgeable candidates. If there are scenarios that require a little bit of extra help, consider establishing a Board of Directors that will help when the situation warrants it. After all, the CEO or COO is usually paid in the millions, so finding a candidate that has clear company vision will do best in the long run rather than hiring multiple consultants to help a less-knowledgeable CEO.
