The CEO is in charge of developing strategies for all of these to meet business objectives. Increasingly, companies are hiring top-tier interim executives to optimize business operations.
An immediate Effect:
Some CEOs operate on the premise that they should only use interim officers for limited purposes. The first impression is that interim officers only fill vacancies. The second is that they come when a company is in trouble. In addition, many CEOs believe that bringing in an interim executive is too expensive.
The reality about interim officers, however, is much different than imagined. They represent a field of accessible, talented professionals who can provide distinguished leadership and innovation at critical points of expansion and change.
Respond to Business Requirements:
Sometimes growth overtakes a company’s management infrastructure. This type of problem is easy to recognize, but it’s hard to know how to respond. Often, the company will try to support one manager, but the rate of change puts pressure on the entire chain of command. Other times, the company will hire a new executive and focus support efforts on a more long-term senior-level position. Meanwhile, stagnation in leadership could cause the company to lose out on innovation. Growth is good, but managed growth is better.
In such cases, an Interim Executive may be just the strategy a company needs. Simply said, an interim executive’s short-term investments can yield long-term dividends. Interim officers can quickly assess a company/division’s disfunction and hit the ground running with a specific objective or set of objectives.
Interim Officers Provide Intangible Benefits:
When one of the interim executives starts his new role, this is a chance to help changing the face of the company. This process requires much more than typical business functions, such as improving IT, expanding product production, or developing a manufacturing system. Changing public perception as a company grows requires objective thinking, creativity, and calculated risk-taking.
An Interim Executive can act as a liaison with outside vendors on a full-time basis, keeping employees informed of changes while also allowing them to fulfil existing orders. He/she can also provide an outsider’s perspective on operations that may be slowing rather than increasing the company’s efficiency and growth.
Interim Working Model Forward Thinking:
Ultimately, hiring an interim executive for specific needs around a company’s growth and development can be an excellent strategy for tangible and intangible benefits. Doing so allows teams to be focused around sales initiatives, and it can create a culture of innovation. Some estimates suggest that about half of the global workforce will be temporary or interim within the next decade. Additionally, about 80% of large corporations will increase their use of flexible staffing.
Thus, hiring an interim executive for a specific staffing need can certainly help a company’s bottom line. But this is not the limit of its benefits. These are priorities for the long-term of the company. They are also points of focus for Interim Executives of IEC LLC’s who work with some of the world’s most forward-thinking companies.
For more information, visit International Executive Consulting LLC today or drop us an email at email@example.com.