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Chief Communication Officer salaries are soaring — with more than one-third seeing base salaries of $450,000 in 2023 — up from 18% in 2014-2015, according to a survey from Korn Ferry.
The big picture: Communicators are a powerhouse of any organization and the newly seated right hand to modern CEOs. If the last few years taught us anything, it’s organizations that undervalued or under-invested in communication are paying for it — struggling to keep distributed teams aligned.
Now, post-pandemic, organizations are relying on comms teams even more to tackle business interruptions and innovations — permanent remote positions, quiet quitting, generative AI — and building a stronger and deeper bench of communication experts, Korn Ferry reports, to guide and engage colleagues:
25% of comms teams had teams of 100+ members — up from 16% in 2014–2015.
10% had teams of 250+ people — up from only 4% in 2014–2015.
When expanding their teams, CCOs are looking for folks with internal communications skills, media relations training, executive communications experience, and the ability to handle crisis management — to support the complex, nuanced, and increasingly difficult tasks owned and led by a centralized communication function.
By the numbers: Effective communication has a big impact on organizational success.
Productivity: Nearly 50% of employees report their productivity being impacted by ineffective communication.
Employee trust: Over 40% of workers reported that poor communication reduced trust in their leadership and in their individual teams.
Retention rates: Gallup’s State of the Global Workplace 2023 Report found that 41% of respondents who were “quiet quitting” would change their mind if their org had better engagement and culture.
Better customer service: Nearly 30% of colleagues have had poor customer experiences or outcomes due to communication issues.
The bottom line: It’s only with a fully functioning communication plan — and the cross-functional teams to support it — that a company can keep all employees working toward the same strategic goals. Prioritize it. Invest in it. And your business results will show the impact of it.