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. (4-min read)
An executive manager has an integral role in every company and office regardless of their department size. Executive managers are responsible for the smooth operation of functions within their departments and arguably the most visible person in their office. Typically executive managers hold a broad responsibility that entails overseeing the department budgets, hiring, firing, and general workloads of members in their departments.
Let’s dive into the details of an executive manager’s role and responsibility, and the values that they add towards a company’s growth.
What is an Executive Manager?
The roles and responsibilities for an executive manager can vary from company to company based on the operational workflow of a department. Below are some common responsibilities that executive managers share in such a position:
- Supervising a department’s operations and activities
- Cooperating with other department managers which is a core responsibility of executive managers
- Reporting to the upper management on the department’s progress
- Creating 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
- Being able to communicate successfully with everyone in their department regardless of their personality type
- Allocating budgets and implementing policies and procedures to achieve set goals
- Creating a strategic workload balance and pre-empt possible resourcing issues
- Managing personnel matters like recruiting and firing
- Handling 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 ideally an MBA. Executive managers are well conditioned to be promoted later into a chief executive officer and executive director roles.
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. Increased Productivity
If you are a knowledgeable and experienced leader, you know that the productivity of your team members matters a lot. Employee productivity has a direct impact on your business and its success. If the productivity is low, you cannot expect to achieve company goals quickly and efficiently. Therefore, it’s important to not cut corners when it comes to helping improve employee 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.
Once you have an executive manager on board, let’s break down their role visually and systematically into smaller, more manageable pieces.
Nifty’s easy to use work management software makes this an easy process. You can create Projects for each group that you manage using Project Portfolios that can be structured around departments, teams, or clients. Then, by using milestones within each project, we can break down the different phases for managers to track department progress in real-time based on the completion of tasks that are tied to these milestones.
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2. Increased Collaboration
During the Covid-19 pandemic, most businesses were empowered to adopt remote work with their team and many are still working remote to this date. While remote work can certainly bring increased productivity, it also makes it more difficult for team members to collaborate as much as they used to in office. As a result, businesses need to provide the tools and means to encourage meaningful collaboration amongst team members, even when they are working remotely.
Adopting a collaboration software to help keep track of employees, tasks, and overall communications can lead to over 50% reduction in burnouts. Finding a software to help you manage time and resources without confusion is just half the battle, implementing it is the second challenge. Let’s meet Nifty!
Nifty is a complete workflow management and collaboration software that helps executive managers simplify their day to day by consolidating team communication, project management, and client collaboration into one easy to use workspace.
Looking to increase collaboration within your departments?
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3. Efficient Problem Solving
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. Business Growth
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.
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 there may be more opportunities to grow in larger organizations, there will not be much of a job security as an executive manager. Additionally, the roles and responsibilities will most likely have specific task sets rather than a broader management opportunity.
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 need
- Take on several existing client accounts and help the account teams better understand how to properly service 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.
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.
Redefine your workflow and automate your day to day operations.
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Being able to communicate successfully with everyone in their department regardless of their personality type. Allocating budgets and implementing policies and procedures to achieve set goals. Creating a strategic workload balance and pre-empt possible resourcing issues.What are the roles and responsibilities of an executive manager? ›
An executive manager defines the vision and goals of his department, or the entire company or organization. He does this by implementing policies and procedures, and by establishing budgets. Executive managers also oversee personnel decisions, such as hiring and firing, and also compensation.What is executive management position? ›
Executive Management Position means a senior management position that reports directly to an appointed or elected agency head and is delegated authority to make decisions that impact the overall direction of the agency and whose duties typically involve planning, strategy, policy-making and line- management.What is the difference between a manager and an executive manager? ›
' A manager is the person who is responsible for the activities of a group of employees in an organization. ... In short, an executive has to oversee the administration function of the organization. An executive has a higher standing in an organization than a manager.What is the role of a executive? ›
An executive directs, plans, and coordinates operational activities for their organization or company and are normally responsible for devising policies and strategies to meet company goals. Executives often travel to attend meetings and conferences and visit regional, local, national, or international offices.What are the 5 roles and responsibilities of executive? ›
The functions and responsibilities of a Chief Executive Officer include Planning, Organising, Staffing, Coordinating, Controlling, Directing, Reporting and Budgeting.What makes a good executive manager? ›
Exemplary executives have the ability to declare their views, engage others' ideas, analyze data for insights, weigh alternatives, own the final call, and communicate the decision clearly. This skill inspires markedly higher confidence and focus among those they lead.What is the difference between senior management and executive management? ›
Executive Management means the CEO and the CFO for purposes of administering this Plan. Senior Management means personnel of the Company who are members of its core management team excluding Board of Directors.What level is an executive manager? ›
C-level executives hold the highest management positions in an organization and are typically at the head of their particular area or department. This level of management is known as "C-level" because the job titles in this level usually begin with the letter "C," as in Chief Executive Officer, or CEO.What does executive mean in a job title? ›
Executive titles are the most influential titles to hold in a company. Also known as C-level titles, the “c” standing for “chief,” these positions usually oversee others and require strong leadership skills. In a C-level position, you are often responsible for management, supervision and project execution.
The GM sits just below the CEO in the executive suite in terms of rank. A GM runs a line of business, whereas the CEO is the GM of all lines of business in a company.How do you become an executive manager? ›
- MBA or Master's equivalent.
- Ability to create reports and presentations.
- Great public speaking skills.
- Deep knowledge of the market the company operates in.
- Ability to work independently and in a team.
- Ability to juggle multiple projects at once.
An executive is an official who implements the strategic plans and policies of an organisation at the highest level.Is general manager higher than executive manager? ›
The GM sits just below the CEO in the executive suite in terms of rank. A GM runs a line of business, whereas the CEO is the GM of all lines of business in a company.What is the difference between executive and supervisor? ›
They do have theirs own responsibility. It deep on company. As my expected executive is higher Level at officials . Supervisor is also higher at supervision.Is executive management an occupation? ›
Understanding Executive Management Generally
People in executive management jobs make decisions for their company. Employees who work in executive management serve as the leaders and decision makers of a company. Within the corporate hierarchy, executive management jobs are at the top.