3 Benefits of Hiring Interim Leaders for Your Firm ￼
It has become increasingly popular to bring on interim executives as temporary alternatives to permanent C-suite hires.
Interim executives are precisely what they sound like — a temporary, executive-level leader. Various reasons can spark the need for hiring an interim leader, such as –
- An unexpected departure in management.
- A significant transition within the company.
- A project or department is failing.
- The firm is pivoting, downsizing, or restructuring.
- Development of a new, specialized project or department.
- A merger or acquisition.
Whether hired to help bring a company out of some crisis, provide troubleshooting and consulting, or allow time to search for a permanent executive, their employment typically lasts anywhere from two months to two years. They come to the table with decades of executive experience and a highly specialized skill set. They are the secret weapon of the business world, taking the helm and bringing expertise, objectivity, and stability to an unstable situation. Regardless of why an interim leader was hired, their primary objective is always the same. The ultimate benefit and growth of the business is their goal!
Benefits of Hiring Interim Leaders
The level of knowledge and experience an interim leader brings is invaluable. Most are veterans of the industry and have spent decades in C-Suite positions. Many began as entrepreneurs who built their own companies, brands, and firms. They have shifted into a career as an interim executive because they have a fine-tuned ability to cast vision, fix problems, and turn things around.
An interim leader usually spends no more than two years in a single company, which provides them a unique perspective. In addition, they have watched the same pattern of problems and solutions play out in different organizations. So they know what they’re offering works!
While an interim leader is part of a long-term strategy, their actual time-on-the-job is relatively short-term. They’re unconcerned with ‘office politics’ and maintaining job security. Thus, they provide objective, honest, even blunt analyses of what’s working and what’s not. They come into the role from the outside, which means their perspective is fresh and uninfluenced by the culture and relationships within the company. They remain results-oriented and freely implement strategies for the good of the company, an incredible benefit when hired to revive a failing project or to lead the company through a significant transition.
Hiring an interim executive often comes on the tail of a central dilemma or crisis. Whether a senior-level employee has left unexpectedly, a transition is developing, or the whole firm is floundering, tension is bound to be high. However, an interim executive entering the scene, focused on providing a solution, brings stability and focus to the team. Their superb leadership “rallies the troops” and brings uniformity in a time that might typically prove divisive. Their presence also provides the “pause” you need to determine your next step.
At The Robert Joseph Group, we are your premier accounting and finance resource firm. We provide access to the top-tier interim executives you need, ensuring a best-fit match with efficiency and expertise. Contact us today.