The Pros and Cons of Hiring Acting Executives for Your Company

If you have to hire a new executive for your company but you are struggling to find the right match for your company then hiring an acting executive might just be the answer for you. In order to find the right acting executive for your company you might want to look at getting in the help of an executive search firm.

An executive search firm can help you to get the right match for your company, but sometimes it can take a very long time to find the right executive for your company, so here is a look at the pros and cons of hiring an acting executive for your company.

Why Hiring an Acting Executive is Good for Your Company

Interim executives are very useful in getting a company in shape and helping to better improve the company in order to attract a specialized permanent executive. In many cases executive search consultancies will tell a company that unless they ‘clean-up’ and improve their working environment they will be unable to attract highly qualified industry specific executives. The interim executive’s role would then be to prepare the company for the arrival of the new executive.

The use of interim executives in smaller companies that experience sudden and rapid growth can mean the difference between success and failure. Using the experience and knowledge of an executive will give a small business the guidance and knowledge to succeed until they can find an appropriate permanent executive.

Often investors in big companies feel that the company has not performed as planned and is unable to achieve their goals under their current management. They will then make use of an interim executive of their choice to turn things around and achieve results. Numerous companies make use of interim executives for this means.

Why Hiring an Acting Executive can Be Bad For Your Business

Interim executives can cause a lot of unrest and uncertainty among employees. Many employees can become apprehensive against an outsider being brought in to shake things up. This may make some employees feel uncertain about their job security and future in the company. If an interim executive is not introduced properly into the organization, and their role and purpose is not clearly specified to employees, you might end up with a lot of nonresponsive employees.

Another downside to hiring an acting executive is the cost. Experienced interim executives charge a very expensive daily fee for their services. Often smaller companies that really need experienced and professional guidance cannot afford these exuberant fees. Furthermore there is o guarantee that an expensive investment in an executive will even pay off and better your company.

Success is not guaranteed and you might end up in debt with nothing to show after hiring an interim executive. Thus you need to carefully consider the pros and cons before you make up your mind.