5 Ways Interim Executives Boost Performance
There are more ways than one that interim executives use to boost performance. However, there are three in particular that always work no matter the industry or circumstances.
Interim executives are often called in to companies at times of trouble or transition. But that’s not always the the case. Sometimes they’re requested when growth is stagnant and revenues are no longer increasing. Using some basic management tactics and knowledge, they are able to boost performance and revenue in a no time at all.
1. Interim executives align everything with strategy
The quickest way to realize a company’s vision is to integrate its strategy in every decision and task. By breaking down that vision into three or five top goals, upper management is able to derive mini goals across all functions to support it. They link the organization’s top goals with every department of the organization, creating an environment where everybody is working towards a common objective.
2. Interim executives measure performance
A plan is only as good as its results. Before implementation you have no way of finding out whether or not it will work. But neither does that mean you have to wait it out before finding out.
Set performance metrics and measure results against them in fixed intervals. For example, reviewing the number of customers acquired every week after rolling out a new marketing campaign. You might find that some aspects of the program perform better while others have no impact at all. Using this data, you can adjust or change the strategy before wasting futher time and resources.
3. Interim executives look for feedback
A good leader is never too proud to deny their flaws. Rather, they look for them and find ways to rectify them. Often an organization’s growth stalls because of the limits of its manager or resources without them knowing it. By taking feedback from stakeholders both in and outside the company, interim executives are able to identify what elements are constraining the company’s growth and address them.