3 Business Situations Where Interim Management Makes Sense/Cents
Various things can go wrong in a business – slow sales, poor organization and communication between departments, sudden loss of the CIO, or simply having operational structure and sales platform that are quickly becoming obsolete. With the help of interim management, these problems can be reversed within a single year or less and turned into a sales increase supported by significantly more efficient operations. Here are three such situations in more detail, where interim management makes sense.
A tech company with slow sales
Problems: This company needed help across several levels, mainly in communication. Their sales were slow as they had no marketing plan or tactics in place. All of their management was working individually – marketing, finance, engineering, and sales were operating without communicating with each other. Senior management viewed the middle-level management as inexperienced.
Solutions: Over a period of three months the interim manager created a marketing plan and set up weekly executive meetings. Management was trained weekly – there were a custom training program, problem-solving programs, and manager cross-training so that they could better understand the role of their department as well as the roles of other departments. Finally, the interim manager ensured all departments could communicate with each other easily through a common language.
Results: The changes prompted a sales increase 7% over what was goal. Managers started working together on problem-solving and all the departments were communicating successfully. The new marketing plan combined with effective executive created a lead generation that was predictable.
A healthcare company without the CIO? Interim Management Makes Sense
Problems: The CIO unexpectedly left the company, communication between the business and the IT was broken. Many of their projects were running late and over the budget. The departments were disorganized and in desperate need of strategies and standards.
Solutions: The interim CIO was hired to help the company for six months during which time he developed project management and set up standards within the IT department. The interim CIO helped created clear communication between the business units and IE. By aligning goals and repeatable processes the overall budget costs were significantly reduced.
Results: Business leadership became strong and stable despite a $7 million reduced IT budget. The IT projects were within the budget and on schedule for the first time.
A healthcare provider with an obsolete sales platform against new competitors
Problems: The company was in need of healthcare reform. Their sales platform was inadequate for the new changes in the market. New competitors appeared.
Solutions: The interim manager was quick to establish transparency, clarity in roles, and accountability throughout the organization. The organizational structure became more flexible and proactive. The manager created standards and a sales team which stretched over the entire business by changing the organizational culture into one in which every employee was accountable for marketing and sales.
Results: Over one year the membership increased by 12%, This included the largest group addition in the history of the organization and the largest member increase. The entire organization become ambassadors for sales.