Want to employ an executive manager for your company? Reading this article will help you know everything an executive manager can and should do. You will also know about an executive manager’s role and responsibilities.
An executive manager has an integral role in each company and office regardless of its size, either small or large. It may happen, however, that sometimes companies do not talk about or show their executive managers because they think that they do not play an important part.
Executive managers are responsible for the smooth operation of their company. While working as an executive manager can be financially and personally gratifying, the job generally entails long working hours and is a no-weekend type of work in most cases.
Here in this article, we will go into details about an executive manager’s role and responsibilities, and the values that they add to a company.
What is an Executive Manager?
There are roles and responsibilities for an executive manager that varies from company to company. However, we mention the common responsibilities that most executive managers should have when they accept the position in the following. They should:
- Supervise a department’s operations and activities.
- Make sure that their department is running well.
- Implement department rules
- Provide department resources
- Give constructive feedback to staff
- Cooperate with other departments which is a core responsibility of executive managers
- Report to the management superior to them on the department’s progress
- Create change in the department that is beneficial to the company as a whole which is one of the most crucial talents an executive manager should possess
- Be expert leaders
- Be able to communicate successfully with everyone in their department regardless of their personality type.
- Define the goals of the entire organization
- Allocate budgets and implement policies and procedures to achieve the goals
- Manage personnel matters like recruiting and firing
- Do contract management and negotiation, as well as data performance analysis to make the best business decisions
An executive manager should have a minimum of five years of experience in their profession and an MBA. Executive managers can later promote themselves into a chief executive officer and executive director roles.
Executive Managers in Small Organizations vs. Large Organizations
Generally speaking, working for large organizations can be both advantageous and difficult at the same time. For instance, while you have more opportunities to grow, you do not have much job security as an executive manager. Or, you have specific tasks and responsibilities but you have to be a professional expert in those tasks.
The same is true for small organizations. While you are like a family member to the team, there is not much opportunity to grow in the position. Or, you should wear different hats without being a specialist in all the different tasks.
Taking a look at this chart can show you the difference between being an executive manager for a small organization and a large organization:
How does an Executive Manager Differ from an Account Manager?
To know how an executive manager differs from an account manager, we will explain the similarities and differences between the two roles.
Similarities Between Executive Managers and Account Managers
Account managers and account executives establish relationships with clients in order to offer their company goods and services. Executive managers work with new clients, while account managers work with existing clients. However, their tasks and duties overlap quite often. Some businesses hire a single person to fill both responsibilities. These terms are also used interchangeably by other businesses.
Both work in a variety of fields, including finance, retail, and advertising. They both must have excellent interpersonal skills, which they use to understand their clients’ needs while keeping an eye on expectations. Both prospective account executives and account managers with backgrounds in marketing, communications, or business are ready to undertake entry-level roles and proceed to higher roles over time.
Differences Between Executive Managers and Account Managers
Despite the similarities, there are important distinctions to be made between these two positions. Here are the responsibilities of an account manager. They should:
- Make sure that their customers get the products and services they want
- Take on several existing accounts, visit the clients linked with those accounts, and help the account teams better understand how to properly delight their clients
- Forecast and solve the demands by their great communication and problem-solving skills
- Communicate with clients frequently
- Maintain information flow between clients and project teams
- Provide follow-up services to clients in order to foster positive long-term relationships
- Maintain knowledge of their company’s offers and promote new products to customers in order to increase sales
- Help dissatisfied clients in communicating their needs to project teams
As we have discussed the responsibilities of an executive manager, you can see that their tasks and duties are quite different. However, as we have said, some companies employ one person and expect them to do all these tasks.
What Values does an Executive Manager Bring to an Organization?
Executive managers are an organization’s backbone. While the return on investment may not always be quantifiable in concrete units, there is a lot to be gained by hiring executive managers. Here are a few reasons why small businesses should think about hiring an executive manager:
1. Increase Productivity
If you are a knowledgeable and experienced leader, you surely know that the productivity of your team members matters a lot. The productivity of your business can determine its success. If the productivity is poor, you cannot expect to achieve your goals efficiently and within a short time. As a result, you should do your best to improve your productivity.
One way to do this is by hiring an executive manager. An executive manager can boost your productivity remarkably. They can adopt strategies based on their expertise and make a change in the whole organization. Executive managers bring value to your team by freeing up significant blocks of time through their ability to handle a variety of responsibilities.
2. Increase Collaboration
One of the many drawbacks of the Covid-19 pandemic is that many businesses went remote and some of them are still working remotely. Under this circumstance, it is hard for team members to collaborate as they used to in the past. As a result, you need to keep the team still collaborating even when they are working remotely from home.
This is quite challenging because your team might comprise various personality types and personal issues that sometimes can distract them from their duties completely.
In order to solve the collaboration issue, having an executive manager who works to link people across organizational levels and departments is crucial. One of the roles and responsibilities of an executive manager is to link your team members and increase collaboration. Remote executive managers are particularly excellent at streamlining tasks and communication due to their increased knowledge of coordination and proactivity.
3. Provide Solutions
A superb executive manager serves as a crucial strategic partner who searches for ways to improve the organization on a regular basis. They are familiar with many of the day-to-day nuances, making them particularly qualified to identify pain points and solutions that lead to improvement.
Executive managers may have dealt with similar scenarios when serving past clients and may know the correct solution to numerous challenges. In a nutshell, they supply solutions to some of the most difficult problems and keep a company going forward.
4. Grow Your Business
Growing a business, especially if it is large, requires a team to be fulfilled. The executive manager understands this well enough. They bring people and projects together, ensuring that everyone is working toward the same goals and, as a result, achieving them faster.
This means being able to focus on even more expansion and higher-value work. Many teams are discovering that they can scale swiftly in today’s digital environment by bringing on people from all across the country. This results in a stronger remote or in-presence team.
If you want to hire an executive manager for your small or large business, the tips above can give you a clue about what responsibilities you should assign to them. In addition, this article tried to give you a clue about what values an executive manager can add to your organization regardless of its size. So, make the right decision and choose the best executive assistant among the CVs you receive. Wish you the best of luck!