Crisis? Transition? Competence gap? When you should call on an executive interim manager
Integral to executive interim management is the temporary nature of each contract. Interim managers specialize in assisting businesses over a set timeframe, with a particular ability to hit the ground running in new environments and enable transformation. So when exactly is this option more suitable than a standard long-term hire? Several scenarios call for bringing on an executive interim manager.
Some gaps in staff are difficult to prepare for: an executive member of staff suddenly falling ill or unexpectedly stepping down, for instance. Replacing someone in that position can be costly, however more costly is the time it will take to find them a successor, without anyone filling in for them. In that crucial transition period, an executive interim manager will jump in and pick things up where they were left off, thus minimizing disruption to your business.
Weathering the storm
Similarly, there are a number of situations in which a business will hit an unexpected crisis brought on by a market disruption: it may be caused by a new player entering the market, new game-changing technology being introduced by a competitor, or geopolitical changes disrupting supply chains. In all of these contexts, businesses suddenly find themselves in unchartered territory, requiring rapid adaptation. Not only are executive interim managers experts at leading transformation, but companies can also select someone with precisely the right profile to match the crisis at hand.
Adapting to new policy
Policy changes can be highly disruptive for businesses, and can require a host of organizational and technical changes. What is more, they can raise the need for new skills within a business. Executive interim managers are ideal players to bring into a company to ensure that all facets of a company are compliant with new requirements, identifying exactly which changes are needed and where skill gaps lie, and steering the whole process of acting on these issues.
Keeping up with technology
Finally, companies are constantly faced with technological developments affecting their industries. They may not feel the need to embrace the changes but these can eventually reach a stage where they become inevitable. The rise of the digital era offers no shortage of such examples. Executive interim managers offer an optimal solution in these cases: they are able to join a company for the sole purpose of driving and enabling the transition needed, something at which they excel.