In the pace of today’s business world, Interim Leadership has carved out a unique niche, where long-term, permanent executives cannot compete.
More and more, HR departments are leaning towards Interim Leadership versus permanent positions to fill their needs and keep up with the rapidity of their industries.
Wondering if it’s time for your organization to rethink the executive recruitment process?
Take a look at the main drivers influencing many organizations, in the search for their next executive:
In a lot of cases, especially with smaller, tech companies, executive bandwidth has reached its limit, and more hands on deck are needed to manage workload.
Delivery and implementation of a new project, whether it be technology upgrades, vendor management, cost evaluations, etc. an interim executive can hit the ground running with expert planning, budgeting, execution, and analytics.
When the need is project-based, a permanent position is too costly and time-consuming, in addition to being unnecessary once the project has reached completion. An interim leader is there for as long as you need them and will exit the organization once their purpose is fulfilled.
You may be saying to yourself, “this sounds a lot like consulting.” Consulting is more geared towards giving advice, running reports and creating a plan; interim leaders does all that plus take action and achieve results.
Plenty of things can go wrong, causing an organization to need a fresh set of eyes on the problem. Yet hiring a permanent executive during a period of crisis is not always wise.
Where a permanent executive is great for strategizing long-term goals, you want the skillset of a quick problem-solver with extensive operational expertise, when a major roadblock enters the fray.
Some example may include declining revenue, technology failure, unethical activity, customer dissatisfaction, etc. After mitigating the problem, your organization will be in a better position to hire a permanent executive.
An executive departure is not always foreseen, and even in the case when it is the hiring process can last 4-6 months or longer.
For smaller organizations, it is not always feasible to ask a board member to sit in their place or divvy up the workload between other executive members. In either case, the solution is just a placeholder and not an ideal one at that.
An interim executive will manage day-to-day operations, keeping the organization afloat while also lending extensive expertise to transform the organization and prime it for an incoming replacement.
Interim executives can manage the hiring process, including vetting, interviewing and onboarding. The primary goal during an executive gap is to not add to the existing leadership’s workload, while also preparing the organization for an ideal, permanent replacement.
Possibly the greatest bonus of hiring an interim executive is their fresh perspective and extensive experience while discovering what the next full-time role should entail and look like.
We Can Help!
Our services extend far beyond Interim Leadership to include Advisory Services, such as:
Get in touch with our team of professionals to learn more about how we can help your firm.