The last few years have been unpredictable. The upheaval caused by the pandemic, supply chain interruptions, and economic uncertainty is leading people to question where and how they want to work. For many professionals and executives, it means exploring contract and interim opportunities. These flexible employment models allow them to maintain professional employment while balancing other obligations, explore their career options or evaluate a company first-hand by working in the organization. Contract and interim engagements are not just advantageous for the professionals involved. They offer significant perks to businesses as well. Consider these five essential benefits an interim leader can provide to a company and how to recruit them.
How Does an Interim Recruitment Agency in Raleigh, North Carolina, Find Top Candidates?
In 2023, interim placement is expected to rise as a talent acquisition strategy for management and executive roles. Interim executives are brought in when there is a temporary gap in a leadership role in a company. These experienced professionals provide the skills and expertise needed to address specific business challenges or opportunities. They are often brought in to lead a particular project, launch a critical initiative, or fill a leadership gap while a permanent replacement is sought.
Interim executives can be challenging for companies to recruit independently, but C-suite recruiting firms offer the resources required to find the right professionals. An interim recruitment agency can find talented interim leaders to help companies in a bind. They can tap their database of available interim executives when an employer needs someone to step in. If they have no one available, they can reach out to passive candidates who may be looking for a new opportunity.
A C-Suite Recruiting Firm in Raleigh, North Carolina, Shares 5 Benefits of Using an Interim Executive
Interim executives enjoy impacting an organization and bringing a positive attitude to their interim role. While embracing change, they recognize it’s difficult for most people and approach their role empathetically. They tend to be problem solvers and are ready to move on when their assignment is over. When you have a leadership position you can’t afford to allow to remain vacant, interim executives can greatly benefit your company.
1. Interim executives provide stability during a transition
Whenever a company goes through a period of transition, such as a merger or acquisition (from either side), reductions in force, significant growth, or new business sectors, it shakes up the workforce. In publicly traded companies, maintaining shareholder confidence is essential as well. Interim executives step in when the companies go through this sort of change. Their calming presence stabilizes the company to ensure continued growth and productivity.
The C-suite has been a major participant in The Great Recession, and their departures show no sign of slowing. According to Challenger, Gray & Christmas, CEO departures in the first quarter of 2022 were up 29% YOY for the same quarter in 2021. Further research by Deloitte indicates that seven in ten executives would leave their current jobs for one expected to be better for their well-being. Instability at the top resonates throughout the organization, damaging morale, motivation, and productivity. And when employees lose confidence in their company, the top performers leave first because they know they have options. It’s a vicious cycle.
Executive placement services can be instrumental in interrupting that cycle. Providing the right interim executive to replace the former leadership can help assure employees, customers, and the community that the company is making smart decisions and is in control. Interim executives can be put into place quickly and have the experience and leadership skills to maintain equilibrium regardless of what challenges may arise. Their presence is bound to be calming.
2. Interim executives are cost-effective
When you hire interim professionals, you pay for only the time you hire them for. There are no additional benefits to pay for, holding your costs down. When you have an interim executive in place, you can take your time searching for a permanent executive, confident that your interim hire has business well in hand until you find the right person for the role. This helps to ensure you don’t make a costly bad hire that can negatively impact your business and lead to the expense of starting the search again from the beginning. Additionally, interim executives can be a cost-effective solution for companies that may not have the budget to hire a permanent executive.
2. Bring fresh ideas to boost growth
A short-term interim leader comes in as a clean slate. They are goal-oriented and there to get the job done. They have no allegiances or involvement in office politics to influence their decision-making. When an interim recruitment agency in North Carolina provides you with an executive, you know they are there to get the job done.
Because they have worked in various companies, interim professionals have seen all. They know how to solve problems, the most painless places to cut costs, and how to facilitate change. Because they look at the business with the neutral eye of a third party, they recognize issues you may not know existed. They can correct these problems and suggest better ways of getting things done. You know you have chosen the right interim executive when the transition to the permanent leader is seamless.
3. Interim leaders bring cross-industry skills & expertise
Because interim executives have led within many different companies and worked in various sectors, they don’t suffer the blind spots common to those who have always worked in the same type of company or industry. An interim executive can quickly provide a company with the necessary skills and expertise. This can be especially useful for companies facing a business challenge or opportunity requiring immediate attention.
It’s common for interim executives to have a love of learning. Part of their personal and professional development is continually immersing them in new situations where they must get up to speed quickly. You can reasonably expect them to be comfortable with the latest technology (and easily pick up your proprietary systems). Their fresh experience also means they understand current management and leadership best practices.
4. Interim executives are focused on delivering optimum results
Interim leaders are movers and shakers. They love making an impact and getting things done. They aren’t there to keep one of the best seats in the house warm or expound on abstract business theories. They are there to execute and see results.
At times, interim managers are tasked with cleaning up a mess. If the incumbent left abruptly (or involuntarily), they might have left chaos behind. Interim executives excel at rolling up their sleeves and cleaning up the mess, paving the way for the permanent replacement to hit the ground running. Don’t feel sorry for these short-term impact players – they often thrive in this environment and would be bored by the long-term day-to-day. Positions like these can attract high-energy professionals like type A personalities and those with ADHD who are often easily bored and thrive with change.
Not all interim leaders display these sorts of “cowboy” characteristics. Some interim roles are designed as a trial period for candidates an employer believes will likely be their permanent hire. This model allows the employer and the candidate to evaluate whether they are a good match. Skills, management style, and culture are all critical aspects to consider. Interim executives in this scenario are just as likely to be focused on driving results. They are invested in making a great impression while trying out the role.
Partner with an Executive Search Firm in Raleigh, North Carolina, to Find Your Next Interim Leader
Career Foundations Contract and Interim Solutions are designed to add flexibility to your leadership team. Since 2002, we have partnered with employers seeking to add talent on demand for contract and interim vacancies. As a C-suite recruiting firm in North Carolina, we get to know each executive candidate’s strengths, experience, and leadership skills. Our recruiting team is committed to identifying interim executives who will meet your requirements, exceed your expectations, and positively impact your organization. Employers come to our interim recruitment agency in Raleigh, North Carolina when they need the option to keep your company operating at its peak while they conduct an extensive search to fill a critical vacancy. You may even decide a Career Foundations interim replacement will make the best choice for the job and offer them the permanent position.
Our Practice Areas Include:
- Corporate Accounting & Finance
- Compliance, Audit & Tax
- Human Resources & Corporate Administration
- Corporate Marketing & Digital Communication
- Executive Leadership
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