Have you considered the benefits of an interim executive?

13th November 2017

By John Wakeford, MD of HW Interim

HW Global Talent Partner has built a reputation for excellence in executive search over the past decade among the many global and local brands we serve.

But did you know we also have an interim management business?

Many of our executive search clients also turn to us when they require a swift interim appointment at a crucial time for their business, often to bridge the gap during a search process we are conducting.

HW Interim provides experienced and talented interim and change management executives to PLCs, private companies, SMEs and private equity backed organisations both in the UK and overseas.

The key sectors we work in include Retail, Consumer and Financial Services, and the wide range of recent assignments we have completed have included interim CFO, FD, CTO, CMO, Supply Chain/Ops Director and Head of Risk.

We have access to an elite network of senior executives who specialise in change, turnaround or transformation whom HW have met, vetted, referenced and in many cases known as clients.

Working alongside the executive search business we can source the ideal interim to match our clients’ needs. With a team of dedicated and experienced researchers we can turn round a shortlist of professional interim managers for a client within three working days who can typically be placed within two weeks. Completion rates are well over 90 per cent.

Daily rates are typically between £850 to £2,000 per day.

The many benefits of interim management

The professional interim management market is enjoying rapid growth, driven largely by a corresponding increase in business transformation programmes across all industry sectors.

Companies both large and small are increasingly turning to interim executives to help steer them through organisational change – with a particular drive for digital transformation and customer experience programmes.

These experienced business leaders can provide stability following the sudden departure of a senior director, or offer a highly specialised skill set which a business may not have in-house.

Their appointment is an effective way for companies to achieve business objectives and obtain highly specialised leadership skills at crucial times.

The extensive benefits of interim management include flexibility and speed of placement, compared to an executive search for a permanent position which can take many months from commission to arrival in post due to the complexity of global searches and the need to fulfil notice periods.

There are cost benefits too; many SMEs may not be in a position to fund a permanent executive position for a particular specialism such as a digital transformation director.

And without the on-costs of a permanent executive such as bonuses, holiday pay, NI contributions, pension, private health insurance and company car benefits, the day rate suddenly does not seem so prohibitive.

Free from the shackles of office politics, a professional interim can offer a fresh perspective, objectivity and challenge. As a freelance operator whose work is heavily reliant on referrals and reputation, the interim is highly motivated and results driven, and will be fully committed to their client.

Professional interim managers are often over-qualified for the interim position they are commissioned for, meaning they can work independently and hit the ground running, with instant results. Their wealth of experience, skills, contacts and knowledge will also be transferred to the in-house team, giving benefits which outlive their interim contract.

The return on investment of a professional interim manager for a business can therefore be substantial, particularly at a critical time.

To find out how we can help your business contact John Wakeford, MD of HW Interim, via his LinkedIn page, by emailing johnw@hwglobalpartner.com or calling him on +44 (0) 113 243 2004 for an informal discussion.