Do you need C level help? Evaluating the pros and cons.
If you own or have ever owned a business, there have been times when you needed expert help.
The words “temporary” and/or “consulting” typically comes with trepidation, like if all hell is about to break loose. Not really, although sometimes it feels like it.
If you are on a corporate board or own the whole shebang and are looking for interim leadership position, consider both the advantages and disadvantages of interim executive leadership.
New blood, knowledge and experience, can add long term value to a company.
Interim executives can bring an objective view to the organization and provide a much-needed outside assessment.
When former leadership has left the company in turmoil, a temporary executive can bring calm and assurance to an organization, as well as take on stakeholder pressure.
Although short-term hires, interim executives can bring hyper-focused experience in a specific area of expertise that can quickly benefit an organization in need of help.
Cost is controllable, and you can only use the help while needed.
Despite these benefits, some companies may choose against an interim hire for the following drawbacks.
The presence of interim executives can spur negative reaction at the employee level and unrest at privately held organizations.
There is the possibility of a perceived lack of commitment from an interim executive because of the anticipated limited tenure.
Most gains achieved may ultimately be short term because institutional knowledge is not developed in interim engagements.
The interim executive may not have the proper expertise to help you solve your short term problems, hence not providing a worthwhile ROI.
There are plenty of reasons for and against hiring an interim executive. Since I’m one of those interim C type of consultant, my recommendation is that you do your homework and ask the proper questions to both asses if it is a match and if there is a “Value” for the services provided. Remember willingness and knowledge is key.