Do Interim Executive Placements Make Sense for Your Business?

Recruitment at the executive level doesn’t scale. Every executive recruitment demands careful consideration and painstaking assessment. The risks and costs of making the wrong decision are substantial. Recruitment of permanent executives, especially senior executives, often takes months as businesses strive to find a candidate who is a perfect fit. 

But sometimes the business simply doesn’t have months. They have a problem and they need someone to solve it right now.  

Interim placements are the ideal solution. The business brings in a talented and experienced executive from outside the organization, an executive who understands they are there to tackle a specific challenge and who will move on once the job is done. 

When do businesses turn to interim executives?

Interim executives are an increasingly popular option for businesses forced to adapt to changing markets, fluctuating budgets, and an uncertain future. Interim placements can prove invaluable when an organization needs to enhance its leadership team and doesn’t have time to waste. 

Businesses of all sizes in all industries have been impacted by the black swan of COVID-19, with a wide variety of consequences. Business units may need to be reconfigured, expanded, or scaled down in response to changing demand. They can no longer afford to carry underperforming units. Some businesses are faced with unprecedented demand reduction. Some with unexpected supply and labor disruptions. Others have experienced demand increases that pose significant scaling challenges. 

Interim executives can augment your business’s leadership with the skills and capabilities it needs to adapt to challenging times. 

What can an interim executive do for your company?

Interim executives are experienced leaders who have often worked in senior executive positions in several businesses, both in permanent and temporary positions. They bring experience and knowledge gained over their career to businesses on a short term basis. Interim executives have no aspirations for permanent employment with the business that hires them; they are single-minded problem solvers who enjoy the opportunity to help businesses to resolve specific issues. 

Because interim executives do not expect to be with the business over the long-term, they are free from the politics associated with long-term employment. They’re also not beholden to the cultural and political context that arises in any company; they are judged simply on how well they perform for their employer. 

The challenges of hiring an interim executive

Interim hiring is a valuable strategy for a company to have in its toolbox, but, while recruiting an executive for a short-term placement isn’t as complex and time-consuming as permanent recruitment, it is not without challenges. 

After all, businesses need to be sure that the interim executives they hire have the skillset the company needs. They have to find suitable candidates, who have to be interviewed and assessed. Reference and background checks need to be carried out. The candidate has to have the right experience and the right qualifications. They have to be a good fit with the company’s culture. 

TD Madison can help your business to hire interim executives who are ready to face any challenge. As a fully retained recruitment agency, we’ve managed the recruitment of senior executives for hundreds of companies over many decades. We use the same successful recruitment process for interim and permanent positions, ensuring that your company gets the right executive, as quickly as possible, and within your budget. 

Talk to an interim executive recruitment specialist today for a free initial consultation.