Is Interim Executive Management the Answer?
rw-admin | 01/28/2016
If you’ve never hired an interim executive manager or do not think you would be interested in that type of position fulfillment then please read on. By definition, interim executive management is the hiring of a temporary, experienced executive brought in to maintain management responsibilities during a defined period of transition, or to solve a specific problem. Interim management can be viewed as a troubleshooting technique in the changing workforce landscape or it just might be the answer you’ve been looking for to turn your business around.
There are several options available when needing to fill a vacancy. Whether filling a position as a permanent placement, hiring a consultant or using an interim executive manager, each has their merits. So, why choose interim management? There are many reasons why an interim executive manager may be the best solution, but it usually boils down to one or more of these three major deficiencies:
- Lack of management capacity: Unexpected tasks/projects arise that current management cannot handle effectively or targets are not being met by current project managers
- Lack of management expertise: Need industry specific expertise or project/position based expertise
- Management vacancy: Unexpected vacancy due to sudden death or illness. Or due to employee resignation
In these instances, it is critical to bring in someone who has both the experience and expertise without having to be trained and go through a lengthy hiring process. There are other circumstances that call for an interim executive manager as well such as;
- Company is in transition: Need arises with very short notice, so being able to fill an executive level role with highly skilled, experienced staff is crucial to maintain the integrity of the business. The manager would then be able to maintain day to day ops, develop vision for future (as needed) and/or prepare environment for permanent placement to move in
- Reorganizing: Trial to determine if newly created position is needed
- Unpopular role: Such as in downsizing, or shutting down operations
Recognizing specific situations when interim management would make sense, it is also important to point out the attributes and benefits of a typical interim executive manager. What makes this type of professional manager more successful in an interim role?
- Executives will have already enjoyed stellar C-level careers
- Experience in which they started, grew, and sold successful businesses and or turned around a struggling business
- They are ideally suited to not just fill a leadership gap, but to actually energize the business
- Require no long term commitments
- Able to provide a fresh perspective
- Cross-industry best practices knowledge
A professional interim executive is not concerned with daily corporate politics as they have no bearing on the job he/she was hired to perform. They are success driven and have the background and fortitude to accomplish the task at hand.
Interim Management has been extremely successful overseas and is quickly gaining traction in the US. The advantages of hiring an interim executive manager can be seen from many perspectives given a variety of practical, real-life circumstances outlined above. If you have any questions about how your company can benefit from learning more about interim executive management, please contact Joe Woerner, Managing Director at The Q Works Group. firstname.lastname@example.org
Written By: Angie Barnes, Marketing Coordinator