The business landscape of 2023 was a rollercoaster, with major layoffs, economic uncertainty, and rapid technological advancements, especially in AI. In response to these factors, many companies will be considering significant pivots in 2024 in order to align with the shifting marketing dynamics.
While these pivots are crucial for staying relevant and competitive, they come with substantial risks: potential misalignment with market needs, delayed execution, and a threat to team culture.
During major transitions, a chief of staff can be an indispensable team member to help mitigate these risks. Here are three crucial roles they can play during a pivot.
Strategic Advisor for Decision-Making
One of the biggest risks with a major pivot is that the new strategy you choose won’t align with the market needs, leading to negative ROI and a lot of wasted effort. Fear of choosing poorly can be crippling for leaders. Executive coaches, board members, and other external advisors can provide guidance based on their understanding of the market, but these people often lack insight into the nuances of your business, including personnel issues and technological limitations.
The advice a chief of staff provides is often more actionable because they are fully integrated with the team and understand everyone’s skills and capacity. They can provide a balanced perspective because they have an intimate understanding of the business’s strengths and weaknesses but they have an emotional detachment that can be hard for leaders to achieve.
This position allows them to guide the leadership toward decisions that are not only ambitious but also grounded in market realities and organizational capacities.
Organizational Change Facilitator
When I talk to leaders who are considering a major pivot, one of their biggest fears is that they’ll spend a lot of time planning out the strategy for the pivot, but won’t have the capacity to actually pull it off. This “all talk, no action” scenario is all too common when a major strategic initiative lacks a dedicated leader in charge of keeping the entire project moving. This is a perfect place to leverage a chief of staff. As a project manager, a chief of staff brings a laser focus and priority to the project that no one else on your team can provide. They thrive on getting things done and know how to anticipate and overcome roadblocks. They can facilitate essential discussions across various departments, assign follow-up tasks, and encourage innovative thinking within the leadership team, ensuring a smooth and efficient pivot to the new business model.
More than just a project manager, they bring a strategic approach to change management. It’s natural for your team members to resist the change that comes with a major pivot, especially if they have to learn new skills. With an average of 10 years of leadership experience, a chief of staff is adept at winning people over even when change makes them uncomfortable.
Team Culture Champion
During major organizational pivots, maintaining team morale can be particularly challenging, and it’s a risk that is often underestimated. Change invariably brings uncertainty, which can lead to anxiety and stress among employees. They might worry about the security of their jobs or the potential changes in their roles and responsibilities. Pivots can also disrupt established workflows and team dynamics, causing discomfort and resistance among staff who are accustomed to certain ways of working. And changes in the company’s direction can also lead to doubts about the future vision and stability of the organization, potentially weakening the employees’ sense of belonging and commitment.
In such a scenario, a chief of staff plays a vital role in safeguarding team morale. The chief of staff can take the time to communicate the reasons behind the pivot, the envisioned future, and how this change aligns with the company’s overall goals and values. They can set up listening sessions with employees in teams or one-on-one settings to hear their concerns and make sure they get relayed to leadership. As team members adapt to the change by assuming new roles, the chief of staff can offer mentorship and highlight achievements and contributions of team members who are going above and beyond. In this role, a chief of staff helps protect the organization’s most vital asset, its people.
Get Timely, Flexible Support During a Pivot with a Fractional Chief of Staff
The role of a chief of staff in times of organizational pivots is far from a luxury; it’s a necessity. The fractional nature of the role makes it a cost-effective and adaptable solution for businesses of all sizes. As you navigate a rapidly changing business landscape, a chief of staff can offer strategic direction, facilitate change, and safeguard your company culture and values. Schedule your free consultation with vChief today to learn more about our highly-vetted chief of staff candidates.