One of the most powerful strategic levers: reducing senior staff involvement

I have observed throughout my career that senior staff is frequently involved way beyond discharging their supervisory duties, or ensuring that activities are properly executed. They are often used to provide repetitive guidance at a very tactical level.

The expertise gap

The reasons for this are varied but often boil down to a simple fact: there is an expertise gap between the core activities of a company and the business development, marketing, and communications functions. This gap is natural, as the there needs to be a specialization in every business.

However, as content becomes more and more relevant, this expertise gap means those subject matter experts are used daily for what they do not consider non-essential tasks. An example in asset management that I have witnessed often is traders and risk managers spending days to write or review marketing collateral, answers to requests for proposals, or even website copy.

We need to bridge the gap by being proficient in our function, and in understanding the underlying industry

Our role must be to bridge that knowledge gap through industry and functional expertise, technology, and processes while ensuring that the governance and oversight aspects are adhered to. As a result of bridging that gap, senior staff can focus on their core activities, resulting in efficiency increases and cost reductions.