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Interim executive management is a service that is used by companies in a number of situations. They include periods of crises or when the company is undergoing a certain change in say leadership, financing or operations. During any of these times it is necessary to have an experienced individual to steer the organisation through the challenges and ensure that stability is maintained.
Interim managers are employed on a contract to sort out a given problem and will usually leave after the contract expires. Their mandate will vary depending on the kind of company in which they have been employed. Common tasks include management of a certain project, change in company culture, or facilitation of a merger or acquisition. They have to delegate some of their duties to other employees in the organisation but are responsible for the success of all the tasks.
Both the client and the manager make an initial contact so as to explore the need for the service. The client lays out what they require from the manager. Having assessed the situation, the manager makes a diagnosis. This usually takes several days. They then lay out their strategy on how they intend to solve the problems. This is presented in form of objectives to be achieved within a stipulated period of time.
There are many advantages associated with the hiring of interim managers. For instance, these managers usually come in with new ideas that may not be found among the existing employees. They are likely to identify the problem easily as they perceive the situation differently. Since they are outsiders they will not have a problem changing the status quo.
By using the service, companies get immediate access to a specific set of skills that are usually needed urgently. Agencies that recruit the managers will provide the required individual in a matter of days. The managers usually have a rich CV and require very minimal training to fit into their new position. If a manager was to be chosen from the pre-existing employees, the recruitment process would be both lengthy and costly.
Studies have shown that the managers are very effective in discharging their duties. This has been attributed to their objective-oriented style of leadership. They are able to come up with flexible business models that help maximise profits by reducing expenses. This kind of style allows the client to easily track their progress. This is simply achieved by looking at the objectives that have achieved after a certain period of time and those yet to be achieved.
The manager will be allowed to leave after they have met all the set objectives. At times, they may be requested to take part in the recruitment of a permanent replacement. Some companies decide to have them on board beyond their official contract.in such an arrangement, the managers are mainly involved in providing advice in various management issues.
Interim executive management is not a really new idea to the business world. As a matter of fact, it has been in existence for more than four decades. It is believed to have been used at first in the Netherlands. It has continued to gain popularity amongst entrepreneurs all over the world. Many have praised it as the most disciplined and effective way of dealing with business-related crises.
Interim managers are employed on a contract to sort out a given problem and will usually leave after the contract expires. Their mandate will vary depending on the kind of company in which they have been employed. Common tasks include management of a certain project, change in company culture, or facilitation of a merger or acquisition. They have to delegate some of their duties to other employees in the organisation but are responsible for the success of all the tasks.
Both the client and the manager make an initial contact so as to explore the need for the service. The client lays out what they require from the manager. Having assessed the situation, the manager makes a diagnosis. This usually takes several days. They then lay out their strategy on how they intend to solve the problems. This is presented in form of objectives to be achieved within a stipulated period of time.
There are many advantages associated with the hiring of interim managers. For instance, these managers usually come in with new ideas that may not be found among the existing employees. They are likely to identify the problem easily as they perceive the situation differently. Since they are outsiders they will not have a problem changing the status quo.
By using the service, companies get immediate access to a specific set of skills that are usually needed urgently. Agencies that recruit the managers will provide the required individual in a matter of days. The managers usually have a rich CV and require very minimal training to fit into their new position. If a manager was to be chosen from the pre-existing employees, the recruitment process would be both lengthy and costly.
Studies have shown that the managers are very effective in discharging their duties. This has been attributed to their objective-oriented style of leadership. They are able to come up with flexible business models that help maximise profits by reducing expenses. This kind of style allows the client to easily track their progress. This is simply achieved by looking at the objectives that have achieved after a certain period of time and those yet to be achieved.
The manager will be allowed to leave after they have met all the set objectives. At times, they may be requested to take part in the recruitment of a permanent replacement. Some companies decide to have them on board beyond their official contract.in such an arrangement, the managers are mainly involved in providing advice in various management issues.
Interim executive management is not a really new idea to the business world. As a matter of fact, it has been in existence for more than four decades. It is believed to have been used at first in the Netherlands. It has continued to gain popularity amongst entrepreneurs all over the world. Many have praised it as the most disciplined and effective way of dealing with business-related crises.
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