Interim management is quickly becoming the choice for changing companies who are looking at management innovation.
For more than a decade, Senior Management Worldwide (SMW) has met companies’ interim management needs. They have done this by tapping into an international network of interim executive providers.
SMW tracks and analyzes global trends in hiring interim managers. They apply vast knowledge and experience in meeting market demands. They are also skilled at transitioning of managers into full-time roles.
A shift in market demands of interim management
In the past 12 months SMW has seen an increase in demand for interim managers. While this still remains a relatively new market, SMW notices relevant trends. There is an overall growth in the number and types of companies seeking interim management.
As a result, SMW has staffed interim management positions in top positions from CEO to CFO and COO. Over the past year, Expertera has focused mainly on interim-based projects. Such projects require shorter-term, expertise-based executive matches that typically last for two or three months. These popular interim roles are filled mainly within equity firms and companies concerned with turnaround management.
Interim managers transitioning into full-time roles
Interim management is temporary by nature. It is uncommon that interim managers transition into full-time positions once they complete their initial work. Roughly 20% move into full-time roles.
The nature of engagement between an interim manager and the company is usually project-based. Therefore interim managers must be dynamic leaders. This is why SMW screens them for specific qualifications that will enable efficient progress and visible results. These highly experienced executives also prefer the excitement and challenge of working on an interim basis. They often look forward to their next assignment. It’s rare in such cases that an interim manager will stay with a company full-time.
Common reasons for hiring interim managers
SMW usually responds to a company’s needs based on general mismanagement or mistrust. As multinational companies grow and expand into new countries, they encounter new cultures. Language barriers and cultural differences may also highlight disparities in values and working practices. Ultimately these barriers lead to lower trust. This is an ideal place for an SMW interim manager.
An accomplished executive who has a long history within a company may not always be the best candidate for an international assignment. This is where SMW can help. Companies need executives with cross-cultural competency, leadership skills, and flexibility. SMW tracks trends in interim management so that their management innovation leads to more gains, efficiency, and growth. Find out more.