PEOPLE FOCUS - CIPD

EXECUTIVE RECRUITMENT PEOPLE FOCUS
InterIM Executives
By Deirdre O’Shaughnessy
We are undergoing a seismic economic shift at present: one
in which the certainties of 15 years sustained growth are
replaced with tighter financial realities, changed priorities,
and new challenges. Adaptability will be a key determinant
of those that emerge from this downturn ready to take
advantage of renewed economic growth, and HR tools do
not come more adaptable than interim management.
For those unfamiliar with the concept,
interim management is the leasing of
executive talent for defined time frames,
usually for purposes of addressing skill
shortages, overseeing internal projects,
integrating new acquisitions after M&A
activity, and compensating for the
unavailability of key executives (e.g.,
through sickness, sabbaticals, succession
planning difficulties, etc).
As an HR tool, its application is
universal: all types of companies avail of
it and do so in all kinds of circumstances.
In the boom years, much of our work
entailed helping those who had difficulty
in sourcing scarce talent, or who needed
help in such areas as product innovation
or entry into new geographical markets.
Now, with the economic outlook more
overcast, we expect to find a greater
demand for executive talent with the
experience to steer younger companies
(the boom time babies) through the less
benign climate awaiting us. We also
reckon that more firms will resort to
interim management to fulfil immediate
managerial needs – without the expense
of a permanent hire.
It is important to recognise that interim
managers are not temp workers, nor are
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they to be confused with management
consultants. A key differentiating factor –
and one that epitomises the advantage
of interim management over more
conventional HR solutions – is that
interim managers hit the ground
running, contributing and making a
value-added difference from the moment
they begin an assignment. In essence,
while management consultants say;
interim managers do!
Of course, parachuting a total stranger in
among permanent employees is not
without its problems, but this is rarely a
serious issue, because the typical
‘interim’ is a highly qualified and
experienced individual with the maturity
and people skills to successfully handle
such situations.
A particular strength is the fresh
perspective that they, as an outsider, can
bring to an established management
function or department. Many of those
we have placed on assignment have
experience not just of different
companies, but different industries
entirely, and their ‘take’ on how particular
tasks are discharged can be illuminating
and enervating for those they work
amongst. A common feedback we get
from clients is that interim managers
leave behind a managerial ‘footprint’
with their host firm – a permanent
contribution to the corporate culture that
lives on long after they’ve completed
their assignment and moved on.
Although the practice is well established
in the USA, Britain, and many mainland
European countries, Ireland is a relatively
late starter in interim management,
although the gap is closing fast. This is
expected to accelerate further, now that
many of our HR departments are finished
(temporarily, we hope!) with the game of
‘catch-up’ that typified so much of the
boom years.
With demand for executive talent
coming more into balance, we can
expect more people will consider
interim management as a career
option. Managers on assignment earn
good money, well in line with what they
might expect from full time employment.
The nominal daily rate charged for their
services is higher than that for a full
timer, but cognisance should be taken of
the need to provide for pension, holiday
entitlements, etc.
And the flexibility and adaptability of
interim management works well for
many individuals. Assignments are parttime,
which allows for the development
of personal business or lifestyle
ambitions. Also, many executives have
discovered that working as an ‘interim’ is
a way of maintaining a current CV (and
income) during the years when family
needs are given priority ■
Deirdre O’Shaughnessy is General
Manager of InterIM Executives Ltd,
Ireland’s longest established interim
management solutions provider and
a subsidiary of the executive search
group, MERC Partners.