Examining the role of and value placed on trusted advisors as viewed by the Chief Executive Officer: A case study on the trusted advisor

Résumé

Given its proximity to and relationship with the C-suite, the role of the trusted advisor is one that many professionals, both within and outside public relations management, aspire to. Perhaps it is for this reason that the trusted advisor, particularly as it relates to the role of the Chief Communication Officer, has received considerable attention in public relations research and academic literature. However, there appears to be a gap in the body of knowledge about the trusted advisor role from the perspective of the Chief Executive Officer. Accordingly, the purpose of this research study was to explore the value of trusted advisors as perceived by the CEO. Through interviews with five chief executives, this study provides insight into the overall nature and role of the trusted advisor relationship: how the individuals came to be trusted advisors; the qualities and abilities that made them suited to the role; and how the CEOs engage with and rely on them. These insights are viewed in relation to the literature on relationship management, the concept of trust, and the roles of the Chief Executive Officer and trusted advisor. The findings indicate that the CEOs saw trust as a critical and foundational element of the relationship. It is also evident that the trusted advisors were relied upon to provide direct and honest feedback. This includes the ability to challenge the perspectives of the CEO, which contributes to building a relationship based on mutual trust.

Keywords: Chief Executive Officer, trusted advisor, relationships, relationship theory, trust, value