Interim Management - Riders On The Storm

Unless you’ve been hiding under the bed in recent months it’s difficult to escape rumours that we might be heading for a recession. As ripples from the collapse in US subprime mortgage markets reach our shores, pundits predict that we’re heading into economic downturn.

But, it’s not necessarily gloom and doom for everyone. Huge corporate shake-ups following the last recession could, ironically, help those in executive jobs should the economy nosedive. It’s a familiar scenario; when economics falter, hiring freezes, particularly at the top end of the corporate market. However, whilst companies might not be able to justify employing permanent executives or recruiting managers, they are increasingly turning to the considerable pool of talent offered by the growth of the interim management phenomenon.

The past twenty years have seen the rise and rise of recruitment agencies, but they are no longer simply there to provide temps and secretarial staff. In the same way that ‘premium’ lagers have flooded pubs and bars throughout the land, so too is the top end market of executive recruiters on the up.

More than ever, those with managerial expertise and a proven track record in senior executive jobs are branching out and selling their skills as interim managers. A growing number of top-level managers disillusioned with corporate politics, or simply looking for new and dynamic challenges, now offer their services to companies on a ‘quick fix’ basis, stepping in to a company for a time specific period, with a focused remit and paid on a daily rate.

Just as those not yet on the property ladder quietly hope to benefit from falling house prices in a recession, likewise many with experience in senior executive jobs can look forward to becoming ever more in demand. Similarly, companies specialising in executive recruitment might be among the few businesses looking forward to economic boom rather than crash. This is because, it’s highly probable companies will turn to a recruitment agency rather than a lengthy interview process to find an interim executive to light the corporate way in times of change.

So what’s in it for those looking to step into interim management? Isn’t there the chance that they’ll be seen as somehow not quite good enough to hold down a permanent position or simply be left with no stable career and a fragmented CV? Actually, as growing numbers are realising, developing a career in interim management flips this notion on it’s head; the more diverse your experience, the more in employable you will be. Experience in a range of interim projects can actually add to your value. Those moving into executive interim management quickly realise that if they are able to hit the ground running for their client and fulfil their brief within the required time period, they will probably be in constant employment.

Employing an interim executive is a smart move for companies too. Employers are fast coming to recognise that when they hand over interim assignments the whole job gets done and is seen through from idea to implementation. Over time this concept is emerging as a more cost effective solution than a costly series of consultant recommendations, restrained by the ethos of the consultancy agency rather than the specific needs of a business. There are further advantages, since in the world of interim executive recruitment there is no need for severance or sick pay. It’s estimated that a third of most senior executives working hours are spent developing staff relationships and morale. However, there’s no need for an interim senior executive to worry about this side of the job, and they clearly present no major threat to those eyeing up the next rung of the career ladder within a company.

It is true that a successful interim manager will be highly skilled not only in terms of business acumen, but also their ability to network, nurture trust and develop relationships fast. However, these skills are a far cry from negotiating the minefield that office politics can present on a long-term basis. It’s far easier to learn to play to peoples’ strengths over a short period of time than to worry about what was said by so and so at the last office party and why it mattered so much.

Perhaps one of the biggest reasons for the good and the great to go solo onto the interim stage is that it’s now acknowledged that the single most valuable commodity for any company is talent. As the phrase ‘war for talent’ slips into every corporate conversation, those who know that they can deliver the goods and are, to put it bluntly, damn good at their job, will be in ever-greater demand. Strategies can be copied, capital can be raised, but there is no replacement for dynamic, bright and forward thinking minds moving a company forward

So, with storm clouds of a global recession gathering on the horizon, the time has never looked better for those sniffing out the best that they can get in the fast paced world of the executive job search. True, companies face hiring freezes, but simultaneously they are clamouring for a taste of ‘talent’ and the kudos this will bring to the company. Rather than sit and worry about cut backs and the possibility of redundancy if recession hits, many are recognising the potential of the surge in executive interim recruitment and the advantages it offers.

It’s no great surprise that as internet speeds get ever faster and technology accelerates, the business world mirrors this increased pace of life. We want more, and we want it now. Interim management opens up endless possibilities for flexibility and movement – how appropriate in the context of a global online community. In the coming years those with talent and energy will become an ever-greater force to be reckoned with and they will be able to ride out whatever economic storms we face with ease. Possibly a more attractive proposition for many than receiving a carriage clock for years of devoted service with one company.