Interim Executive – A Boon for SMEs

Interim Executive

In today’s fast paced business environment, innovative practices are essential for the development and survival of an organisation.

Key people are central to the performance of any organization. There is a premium on the talent available in the job market. Many organisations are unable to attract the “best talent” as employees are increasingly becoming choosey about the organisations they would like to work for.

Situations of crisis and of several other temporary natures do not necessitate organisations to make a long term commitment by offering permanent positions. Rather, speed is of the essence in most such situations.

Both of these situations lead to the need to outsource mission-critical work that is usually done by permanent employees. While consultants are capable of doing a great job of diagnosing the problems and suggesting solutions, they are seldom mandated to implement and are not held accountable for the results.

Value Proposition of an Interim Executive

Interim Executives bring in a bouquet of knowledge, skills, methodology and rigour to provide solutions to business situations. They also undertake execution of these solutions to deliver the benefits for which the businesses engage their services.

With their vast expertise and experience, typified by their CXO (CEO, COO, CFO, CTO) profiles, this new breed of professionals who choose to pursue project-based independent career offer the following benefits:

  • Quality– with solid fundamentals and a vast experience, they present solutions that are effective and practical.
  • Objectivity – internal meetings and corporate politics typically consume 30% to 50% senior executive time. Unencumbered by any previous involvement in company processes or internal politics, they can concentrate on what’s best for the business. No past baggage, no biases.
  • Speed – with the ability to quickly assess business situations and to process various activities concurrently, they can parachute into the action arena and start engaging with the issues from day-one, purging any time wasted in long recruitment procedures, on-boarding or induction.
  • Cost-effectiveness– when organizations hire an Interim Executive, they trim their costs. They only pay for what they get; no idle time, no overheads, no retirement add-ons.
  • Flexibility – they offer tailor-made solutions for all situations. Engagement durations could vary from depending upon requirements. Dosage levels could be dynamically adjusted to suit pulsating requirements.
  • Accountability – they implement and manage a business or project in its own right, taking full responsibility, in contrast to purely advisory management consultancy.
  • Commitment– since Interim Executives thrive on the challenge of different assignments and are not looking for a permanent position, they take great pride in committing to maintain the highest standards in their work. After all, their next job comes with word-of-mouth recommendations from satisfied clients.

As external contributor with a fresh and stimulating view of the situations and issues faced by the organisations, Interim Executives can help maintain high dynamism and innovation levels.