In today’s rapidly evolving business landscape, agile and effective leadership is paramount. At Russam, we consistently advocate for our CEO and C-suite clients to keep the option of hiring an Interim Executive firmly on the table. While organisations may consider permanent hires, management consulting firms, or internal candidates to fill interim roles, these alternatives often lack the flexibility, range of choices, and cost-effectiveness that Interim Executives provide.

There are several compelling reasons to think interim:

1. Immediate Availability: Interim managers can typically step into roles immediately, contrasting sharply with the lengthy hiring process for permanent employees, which often spans a minimum of four months due to notice periods and onboarding procedures.
2. Immediate Results and Fresh Thinking: Unlike permanent employees who usually have an adjustment period, Interim Executives deliver results from day one. They identify quick wins, build relationships swiftly, and offer fresh perspectives that challenge the status quo. Our survey highlights “Fresh Thinking” as the number one reason for engaging Interim Executives.
3. Flexibility – “Try Before You Buy”: An interim assignment allows both the organisation and the executive to test compatibility before committing to a permanent hire. This approach can prevent costly hiring mistakes by ensuring the right fit for both parties.
4. Cost-Effectiveness: Interim managers are cost-effective compared to their permanent counterparts. They are compensated only for the days they work, with invoices reflecting a daily fee structure tied directly to performance metrics.
5. Experience and Objectivity: Interim Executives bring a wealth of experience, often exceeding the job requirements. They understand best practices and may have recent experience with competitive organisations. Their objectivity and lack of internal politics allow them to provide honest, unbiased insights and stability during challenging times.
6. Exceptional Project Management Skills: Interims excel in executing strategic initiatives, whether it’s relocating a factory, managing a startup project, closing a branch, or leading a downsizing or restructuring effort. Their proficiency in project management ensures that critical tasks are completed efficiently and effectively.

Reflecting on the insights shared by a former HR Director at Balfour Beatty during a recent podcast, the importance of interim managers becomes even more apparent. As organisations navigate transformations in a challenging economy, the flexibility and expertise offered by Interim Executives are invaluable. A fluid approach to resourcing strategies is essential for maintaining a competitive edge, and highly skilled interims provide the precise support needed to thrive in such dynamic environments.

“As organisations move through various transformations in today’s difficult economy, the flexibility and expertise offered by interim managers is invaluable. These are fluid times and a fluid approach to resourcing strategies is vital if organisations are to remain competitive. Highly skilled interims offer precisely that support.”

Jason Atkinson, Chairman of the WIL Group, former Chairman of the IMA, and Managing Director of Russam Interim, underscores the significance of Interim Executives. With over 20 years of expertise in Interim Management, Jason is a leading authority in the field, reinforcing the strategic advantages of leveraging interim talent.

In conclusion, considering the myriad benefits—immediate availability, fresh thinking, flexibility, cost-effectiveness, experience, objectivity, and project management prowess—hiring an Interim Executive is a strategic decision that organisations should actively contemplate. Ensuring that “Interim” is always an option during leadership and resourcing discussions can be the key to navigating today’s complex business environment successfully.

For a comprehensive guide to Interim Management, please refer to the Russam Guide to Interim Management.

By embracing the power of Interim Executives, organisations can harness a flexible and expert-driven approach to leadership that meets the demands of an ever-changing market.

Get in touch today to find your next interim.