How Interim Executives Can Make An Impact In Your Business
It is common knowledge that interim executives are brought into a company when an acting senior level executive can no longer continue in the role, regardless of the reason. The leaving executive might be sick, have been dismissed, deceased or perhaps voluntarily left the position. During the time, it takes for the company to find a permanent replacement, an interim executive steps in and fulfills their role.
Because of their extensive experience and outsider perspective, interim executives can make effective and rational decisions for the company. They are often sought in times of distress to help bring positive change and stabilization in the company.
Cerius Executives provides executive expertise on a part-time, temporary, interim, advisory or management consulting basis. Through a deep resource pool comprised of thousands of executives throughout the United Sates, they offer a full services portfolio across all management disciplines from which they develop a customized interim executive solution tailored to the needs of their clients.
Why work as an interim executive
Although the projects interim executives work on are temporary, there is usually the possibility of converting the executive in the event it is a great longer-term fit. In their short duration, interim executives deliver a good value proposition. They not only come in and provide leadership and tools. To make their changes sustainable, they then leave the tools so that the team remains stable despite a pending transition. To keep minimal disruption to the existing team and company operations, they also have an effective exit strategy.
For the executive, the life-work balance in the life of an interim executive is very valuable, especially to those who have kids and family. The job gives them the flexibility to spend time at home and also work in a very professional environment at the same time.
Impact on companies today
The biggest impact in this line of work is changing cultures. It is a difficult transition, and you might face some turmoil from existing employees. However, in most cases, the interim executive provides more stability and support that either the prior situation or leaving the position open.
Being an outsider, interim executives need to understand and reassert the core objectives of the company. At the same time, they simplify the message for the employees and the company: who they are? What their core purpose is? What are their core values?
Shirley Balarezo, president of Tone Software, brought in one of Cerius’ interim executives to act as vice-president of sales. She says, “He is a very experienced sales executive who has no biases about our company or product, no favorites, and no political gamesmanship. He’s able just to give pure, top-notch strategic advice on how to sell our products.”
Leadership and empowerment
One of the great learning tools an interim executive can provide across the board is team building and empowerment. Since there are no long-term agendas or egos involved, it gives more opportunity for team building and giving people the authority and ability to make decisions. They are enabled to fail and taught that it’s OK to fail. One interim executive at Cerius said, “I always tell people if you fail really fast, you’re going to find out the answer [sooner].”
Interim Executives create a safe environment to allow people to make decisions and be decision makers. That’s really powerful for companies today. Usually the person at the bottom of the organization chart of the company is the one that interacts with the customers. They receive the least amount of decision-making power. Every customer wants to be taken care of right there. Bringing in an outside perspective can often provide key insights such as this that can make a significant impact on both the company and the employees.
People feel very empowered once they see some success. After that, they’re willing to take additional steps to be successful.
Much of the success of the executive depends on being put in a company and situation that leverages their background and expertise. Cerius takes the time first to know their executives and their background. They have a large network of professionals in different functions and regions.
Also they should look for a balance between flexibility in their life and wanting to still provide value to companies. For a healthy lifestyle, life-work balance is very important. Interim executives enjoy the challenge, a variety of situations and cultures and sharing their decades of experience with the various generations in today’s workforce.