8 advantages for using interims at this time.
The WIL Group was set up to help owners, their representatives and management teams to overcome business challenges, implement their ambitions and to build a Group that attracts and develops the best people, interim leaders, and experts worldwide.
Since our inception 8 years ago we have never seen such a difficult and unpredictable business environment.
The topics we are discussing with our clients have changed drastically over the past 12 months, even over the past 6 months; with our clients acting in more of a crisis mode whilst facing huge challenges across the world. This includes the war in Ukraine, vast inflation driving up energy costs, economic sanctions and commercial banks, disrupted supply chains, hangovers from the pandemic, and shortages in supply of labour.
The world has changed, and the WIL Group has also changed so that we can help our clients overcome these unprecedented times. We have seen other downturns and recessions before, and interim management continues to be an effective solution for our clients.
Perhaps there are different priorities and focus areas but the solutions we offer with our international talent pool of 40,000+ executive interim leaders, continue to succeed.
Interim Management is a business model that thrives in the face of uncertainty and as we turn 8, I wanted to remind you of 8 advantages for using interims at this time:
1. International coverage and deployment – “Where you can’t go … We can” . . . We can deploy interims into places that our clients can’t get to via our local partner firms. Interestingly nearly 90% in our talent pools speak more than one language and 48% speak three of more languages!
2. Experience and skills - Interim managers offer instant experience and capability almost always one level above the job requirements. They know what best practice looks like and may even have had a recent assignment at a competitive organisation. In a recent case study conducted by UK consultancy firm Russam, it showed in 65% of cases, interims bring unique skills that are completely absent in the organisation they are going into.
3. Availability - Interim managers are often available immediately, whereas typically it could take a minimum of four months to hire a permanent employee serving a notice period.
4. Immediate Results - Unlike a permanent employee who is typically given time to settle in, the interim manager will start delivering results immediately, identifying quick wins and building relationships rapidly. They "hit the ground running" with a fresh perspective and no more than a five-day honeymoon period.
5. Value for Money – In many cases the interim will come at a half or even third of the cost of a partner level management consultant. In many cases – circa 30% the talent on our books has a Big 4 consulting background; and all will come with deep industry experience.
6. Objectivity - Interim managers are objective and won’t be side-tracked into office politics. They are not seeking an extended career with the organisation, so they say what is required, rather than what the organisation wants to hear.
7. Change and crisis management - Adept at handling crisis and special situations including divestments, major restructuring, transformation and supply chain issues, interims step in knowing how to mitigate the impact of a crises effectively and efficiently, or even turning it into an opportunity for the company.
8. Heart – Interims are “bolted-in” and not “bolted-on”; they are part of the organisation and truly care every day of the assignment about achieving results. Internal colleagues quickly forget that they are an outsider.