There have been significant shifts in the drivers of our economy creating tremendous opportunities for organizations. The psychological evolution of the workforce, the changes in regulation, legislation and approach of our governments, and the availability and access to human capital have all made a mark. The opportunities lie in ‘how’ to manage these shifts and challenges.Traditional methods in human resource management, like organizational restructuring, compensation, and benefit package changes and employee attraction, retention and layoff strategies, are often risky, costly and limiting. Interim management is cost effective in addressing necessary organizational, program and/or human capital changes; creating additional options for organizational leadership Interim Management can provide a fresh perspective, while also bringing a wealth of knowledge, experience, and objectivity to your organization.
The economic shifts we have experienced the past 2-3 years demands that business leaders move past old cookie cutter approaches and dive deep to uncover insights and solutions to grow their businesses. The key distinction between many interim executives and those traditional business consultants is easy to remember; an interim executive has the skills to design the solution, AND execute on those plans. Business growth is both cost and time sensitive and an interim manager gives you a competitive edge.
Three ways an interim executive can positively impact your organization:
1. Never let a crisis go to waste.
In his bestseller, The Power of Habit, author Charles Duhigg notes the best leaders seize crises to remake organizational habits - those implicit, informal and unwritten rules that employees use to survive their work environment. Changing these habits takes awareness, time, effort, and in most cases, significant organizational courage. Change agents don’t always survive the change they need to instill. An interim executive has the required experience to objectively review, recommend and manage change while providing the face for any negativity associated with difficult transitions.
2. Get a fresh perspective.
When budgets are tight and teams are slim, quick understanding of the issues facing your business is paramount. Having a fresh perspective and a big picture view is critical. Sometimes your best people are too close to the issue and can miss the trend or opportunity. Adding an interim executive increases capacity and expands your options, and helps you to find the right solution.
3. Develop human capital.
Human resources are an organization's greatest asset while at the same time representing a liability, which must be managed, developed and nurtured to achieve the organization’s mission and vision. Without shifting and evolving the organization’s human resource management practices to meet the significant adjustments occurring in our economic and social environment business leaders are left wondering how they lost their margins and business leadership positions.
Change requires an ability to stand up against the established norms in order to ensure an organization’s survival. Working with an interim executive who has the experience to lead and grow organizations, teams, and/or individuals through these organizational pivot points, can not only grow the abilities and skills of your employees but can also fast track the changes as they are not as vested in the ways of the past.
Your business or organization can’t flounder through a transformation; it needs to be purposeful and effective for all stakeholders. If you're scratching your head on how to leverage these opportunities, consider an Osborne Interim executive. The Osborne Group team has a proven track record in Western Canada - introducing experienced interim executives with the knowledge, skills, and objectivity needed to push through major initiatives in a wide variety of fields and industries. To find out more, contact Osborne Principal Joel Benjamin.
