Fortune and BusinessWeek Report on the Expanding Use of Interim Executives
Contributed by Charles Besondy
For many American workers, including executives, their country has become a “part-time” nation –a nation of part-time employment. The use of temporary, contract, fractional or just-in-time employees is growing rapidly. Full-time employment growth is stuck in low gear.
According to a July 2013 FoxNews report on the Bureau of Labor Statistics, the number of temps soared 50% in the past four years to 2.7 million people. That means roughly the same number of people are working as temps as there are in the airline, real estate and mining industries combined.
Granted, a significant percentage of temp workers are in low-level jobs, but a special breed in the ranks are “suits”, executives retained for a period of time because of their unique skills and management experience.
In this context I invite you to read two articles in Fortune and BusinessWeek that look at how and why companies use interim executives as an alternative to consultants or full-time hires.
Fortune magazine’s article, “The Rise of the Hired Gun C-Suite”, explores why some companies elect to “rent” an executive when they need special skills.
The BusinessWeek article, “Not a Consultant, An Interim Executive,” reports on the choice to bring an interim executive into a company rather than hire a typical consultant.
For companies looking to achieve high performance without over loading the balance sheet with overhead, the use of part-time and interim executives is a welcomed solution.
CHARLES BESONDY IS AN INTERIM MARKETING EXECUTIVE WHO HELPS CEOS AND BUSINESS OWNERS INCREASE THE CONTRIBUTION THAT MARKETING MAKES TO THE BUSINESS.