Who's responsible for overall company growth? The CEO, yes. And also the CMO, CTO, and CFO, right?
Those roles tend to focus on growth, among other goals. But at an increasing number of organizations, a position has opened up that focuses only on growth: the chief growth officer (CGO).
How can you know whether creating a CGO role is a trend you should be paying attention to for your own company, and, more important, whether a CGO will be worth the investment?
An infographic by Culture Amp, an employee engagement and analytics platform, explores this role and explains what it is.
Though every organization defines the role slightly differently, most agree a CGO has one main objective: to look at traditional aspects of business—like product development, marketing, and sales—and focus on growth opportunities. The CGO spends his or her time thinking about possibilities not only for the company but also for the customers it serves.
Some highlights from the infographic :
- Only 38% of CEOs are very confident about their revenue growth in the next year.
- There are 455 CGOs in the United States.
- Of those, 192 work for companies with fewer than 50 employees.
- In the past few years, big-name companies (The Coca-Cola Company, The Hershey Company, and Kellogg Company) have hired chief growth officers.
Check out the full infographic to see what other benefits are driving the popularity of the CGO: