More and more boards and management teams are constantly navigating between leading disruptions in business and improving operations and management to ensure that they are aligned.
4 Questions in the Minds of CEOs:
Interim Managers Can Be The Solution:
For companies requiring industry or functional experts with diverse leadership and management skills, as a stop-gap measure or as a strategy to bring in cognitive diversity of thoughts and experience, hiring Interim Managers can be the solution.
Interim Managers are most often senior leaders who have opted out of the corporate world, to pursue different careers or reached the maximum retirement age. Their new life objective is to inspire and help individuals or companies grow. What they bring is extensive experience in a specific field, often with global or regional exposure bringing the ability to work at all levels, cultural sensitivity and operational expertise.
As they do not have long-term career aspirations, they are motivated by outcomes and results, Interim Managers excitedly bring in wisdom, best practices and coaching skills into the organization. They are also very independent and bring unbiased views and thoughts as they do not have the interest to be in full-time employment or to be in the good books of someone.
What are the Functions that Require Interim Managers?:
Almost anything. We have provided a listed energy company with an Interim Communications Manager to help them develop their annual report, and at the same time build the skills in the current team. As their Communications Director resigned, they weren’t a dire need to hire someone at such a senior level, considering the poor market sentiments and reduced workload.
You may be running a fin-tech business and require an expert to have an outside-in look around risks and governance, but do not have the bandwidth and budget to hire someone permanently. A former Country Risk Manager of an international bank might be keen to work alongside with you to help you build the framework for risk management and train your team on the governance.
How International Executive Consulting LLC can help you?:
At IE Consulting LLC, we are always available for you and our expert Interim Managers identify the gaps in your business and the necessary leadership and management traits needed and give you the best results and profits with their expertise.
Interim Management Service can be the best short-term solution for a long-term business need.
For more information, please visit us now!
One reason for hiring an interim manager is the speed at which they can be on-board; But this should not be the only reason to hire. We are trying to recruit more permanent candidates to be available in interim roles immediately as this is seen as an effective way to try someone before being given a permanent role. The risks of this strategy are many and should be carefully observed before starting.
The immediately available permanent candidate may be a cheaper resource, but will it be fully committed to the assignment, if it does not proceed to the permanent offer? Will they be totally committed to finishing the project if another permanent opportunity arises elsewhere? Will they have the experience to actually make an impact in the short-term?
Professional interim managers bring direct experience of delivering the issues of the client organization and can quickly adapt to varying cultures, making them highly effective in a very short time. Interim Managers are not focused on staying longer than needed and are not normally interested in taking a long-term permanent opportunity; outcomes and driving value are their key priorities. The costs will be higher but the outcomes and business benefits will be easily visible after the interim has left.
Interim Executives are the catalyst to positive disruption by offering:
Independence: With no historic attachment to the business, Interim Managers provide independent, committed support to the strategic direction of the business with no personal or political agenda. Many business cases are formulated with common and unclear benefits, making the measurement of delivery almost impossible. In addition, if the senior stakeholders have differing interpretations of the deliverables, there is little chance of successful delivery by Interim Executive.
Fresh Perspective: Organizations can often reduce the scale and complexity of a program and the risks associated for successful delivery on their first encounter with a major business change. Whilst the Interim Managers bring experience, having managed transformations of equal complexity and scale, they are able to highlight areas of potential financial and non-financial benefits & much quicker than internal staff.
Proven Track Record: Using interim managers instead of management consultants or inexperienced internal resources, clients have more control over results, maintain intellectual property and help reduce costs and risk associated with successful delivery.
Legacy: When utilizing any external expertise, there is a risk of losing significant knowledge and intellectual property when the project finishes. Management consultants will often walk away with this intellectual property, although interim managers will always try to transfer this knowledge to current internal staff.
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