With recovery on the horizon and additional information being released daily by the Government on relaxation to the lockdown rules, most business leaders are already planning the best way to move forward from the Covid-19 outbreak.
One of the key trends that we have seen in the market, is the need for new or different skills to address the particular issues that the pandemic has and continues to cause and this has driven a considerable increase in interest around interim management skill sets.
VITAL SKILLS WHEN YOU NEED THEM MOST
Clients more than ever are showing interest in the following skills which they need to support core business operations:
Business continuity– interim managers to take care of the challenges presented by numerous factors as a result of COVID-19 while key permanent executives get back to business as usual or the achievement of a ‘new normal’
Finance Director assignments– dealing with the financial impact of the issues created by COVID-19 in a strategic and rapid manner to protect cash and secure the long-term financial viability and health of the business.
Business Transformation– as businesses start to identify a ‘new normal’, having prepared and dealt with the recent economic and political changes associated with Brexit, change fatigue may be creeping in. Rapid change is likely to be needed and this fits with the Interim DNA bringing fresh but tested solutions to the table.
Supply Chain– While companies have their own challenges in responding to the pandemic, the complexity of the supply chain and the impact being felt there can be difficult to pin point, particularly across geographical boarders. Expert purchasing, procurement and supply chain interims can provide the skills needed to unpick this and strategically assess and develop sustainable supply chains to help your business recover.
Human Resources– re-deployment, collective consultation, employment law, furlough, redundancies, employee relations, people policies, part-time working, social distancing, home-working….the list for human resources professionals is growing, and something every business will be having to consider right now. Interim HR professionals can bring external expertise to alleviate the people pressures every business is feeling at the moment.
WHY USE INTERIMS?
There are numerous benefits to using flexible resources to support your recovery and future planning. Interims can offer:
Immediate skills where you need them
Interim managers are generally highly skilled with a wealth of experience in a wide range of business matters or a specific area of focus. One of the pre-requisite skills of an interim manager is to quickly identify issues and quickly utilise their skills to implement solutions to targeted outcomes, passing on their knowledge to key staff in the process.
Action and results oriented
Experienced Interim Managers recognise that you need results, and that they are paid well to deliver them. This leads to a high degree of efficiency using tried and trusted processes and targets to successfully complete assignments on time to agreed results.
Interim managers, being results and time focused will avoid company politics, demonstrating a keen desire to get the job done in an independent and engaging manner without the historical context that longer term employees may be negatively influenced by. This fresh approach in itself can be motivating to many employees, providing improvements in culture which extend beyond the interim’s tenure – useful as a kick start for a new strategic direction.
Interim resource is flexible, can be turned on and off, used for defined periods and is ultimately a short-term or temporary solution. As such, interims are used to taking on numerous roles as necessary at a variety of locations and tend not to work to set hours except where workplace requirements dictate. This formula, if harnessed in the correct way, is a great contributor to successful results from an interim assignment.
Interim managers can be sourced and in-situ in a matter of days, ensuring the immediate nature of the requirement to engage is met with a fast response. For permanent resource with a similar skillset, seniority and experience to be hired, that time-frame can move to months, assuming the authorisation to hire can be achieved in the first instance. Often, interims can be a good solution while a permanent recruitment process is running in parallel, switching the emphasis from short term to long term strategy as the permanent engagement begins.
While day rates for Interim managers vary depending on the individual, the assignment and the size of organisation, their modus operandi is often a very cost effective alternative to Management Consultancy. The complexity of engagement is vastly reduced; the interim is usually engaged by and reports to a single executive giving immediate authority without barriers.
At Jonathan Lee Interim Management we have a deep understanding the key factors surrounding to the engagement of interim managers, the ‘DNA’ of a successful interim, and the need for fast results. With over 40 years of working with highly experienced interim managers across a wide selection of skills we understand both the capabilities of our interims and the best way to find a fit for your business.
Get in touch today for a no-strings chat about how an interim manager might help your business.