4 ways interim managers can support your business through transformation
Hiring an interim is becoming increasingly popular amongst businesses looking to adapt and change in the wake of economic uncertainty and the increased digitalisation of workforces. Interims are a proven invaluable resource for their senior-level skills and expertise that can be engaged quickly. They can plug a capability gap within existing teams to meet business objectives or oversea transformation project implementation.
Not only are they a cost-effective resource, but they offer a fresh perspective on current best practice standards and are able to apply expert knowledge to varying projects or initiatives to help drive business growth, particularly with change management.
4 ways interim managers can support change management with a business recovery strategy
With the global economy on the road to recovery, business leaders are looking to engage the appropriate skills and expertise, particularly in change management and business recovery, to successfully navigate this complex period. With declining revenue and headcount pressures, employers are not in a position to hire permanent staff, particularly costly senior management hires and are looking for alternatives.
This is where interim managers offer significant value to companies as they can support transformation through crisis and change management and even putting together a recovery plan.
Hiring an interim can support a business with their recovery strategy via:
As the economy begins to recover, change management is becoming increasingly important. Engaging an interim can help to successfully embed change in your organisation as they possess key critical skills to help steer organisations through complicated transitions, such as:
- Experience performing under pressure and to tight deadlines
- Used to working in new situations and environments
- Used to supporting businesses when times are tough and turning these around
Why change management matters:
The impact of improperly managed change, whether that’s implementing new technological solutions, a merger or adapting to the loss of a senior member of the team, etc., can be significant. Properly managed change should not impact your workforce or employer branding negatively in any way.
If change is not implemented successfully into your business, it can:
- Decrease productivity
- Affect revenue generation
- Negatively impact employee satisfaction and morale
- Affect the service quality experienced by customers and partners
Implement new systems and technology
Interim managers can help your corporate culture adapt to new technologies, as organisations move to remote working and more of a hybrid model long-term. Businesses have needed to incorporate innovations and new digital technology into their organisation very quickly and this is where interims can be valuable.
New strategies can be very expensive to implement, and it may be difficult to find the right in-house skill sets to drive these changes forward. Interim managers can be brought on board within a matter of days and possess the high-level skills to embed new software or systems immediately, as well as act as an advocate for change and ensure it’s communicated appropriately throughout your team to avoid resistance.
Legacy knowledge transfer
Given the fast-paced nature of the current economic climate, businesses must adapt to change quickly in order to make the most of opportunities. Due to the highly-skilled nature of interim managers, businesses can leverage their experience and knowledge to upskill and develop existing employees. Legacy knowledge transfer not only elevates your inhouse skills, but can also be vital to the long-lasting impacts and success of change, helping to implement systems and processes that sustain new technology maintenance or usage, etc.
They can also provide a strategy and roadmap for onboarding senior-level staff to ensure continuity, providing long-lasting value even after they have left the business.
During economic recovery, it is important for businesses to invest carefully and pick and choose which projects need prioritising in order to drive growth. It is critical that business leaders do not use more resources than is absolutely necessary, and engaging an interim can be a great way to ensure you cover all bases. Their cost-effective nature also means you have access to the high-level skills you need when you need them.
Oakwood Resources can help to support your business recovery by sourcing highly-skilled interim managers that are essential to business survival, growth and profitability in the coming months. Interims are assessed based on their skills and experience and are an agile resource that can work alongside you to deliver successful outcomes for your business operational needs.