Closing management gaps, managing change processes, temporarily integrating specific expertise: When such challenges need to be overcome, executive interim management is used as a strategic instrument. As a temporary manager, I have held this position myself in numerous companies and know what is important.
An experienced Executive Interim Manager is commissioned either by the company or by private equity investment companies, family offices or strategy consultancies.
They are engaged as managing directors, board members or indipendent directors to lead interventions in medium-sized and group-affiliated industrial companies. The reason for this is not always an acute crisis – there may also be a specific strategic intention behind it.
When used correctly, the role of the ‘Executive ad Interim’ goes far beyond bridging vacancies: it helps with change management up to sustainable value creation and comprehensive transformation of the company.
This brings lasting benefits, as the external, neutral viewpoint overcomes operational blindness and thus enables fresh perspectives and new approaches to solutions. And: the non-permanent manager is not bound by clichés or prejudices and has no vested interest in maintaining the status quo.
What differentiates this manager?
As an Exceutive Interim Manager, specialist knowledge and industry expertise are of course necessary, ideally complemented by solid “first-hand” management experience. In any case, one crucial point should never be neglected:
To successfully implement change, you have to like people.
You can read in detail why this is important, here.
If you sum it up, the most important competences and success factors for an Executive Interim Manager are as follows:
- Analysis and problem solving with a focus on results
- Resilience, flexibility and agility, tolerance of uncertainty
- Technological knowledge, expertise and process understanding
- Strong communication skills and experience in project management
- Leadership in relation to yourself and others – with the ability to work in a team
- A keen sense for people, situations and subliminal messages, both verbal and non-verbal
With such skill set, the Executive Interim Manager becomes a valuable player who not only brings about short-term solutions, but also long-lasting expertise for the company. This relieves pressure on internal resources.
In practice, the role of the CEO often coincides with that of the Chief Transformation Officer in situations that necessitate a transformation. It is often the case that the resistance between the Chief Transformation Officer and the other stakeholders is inversely proportional to the hierarchical level.
To put it bluntly: there is less to lose at the lower level.
The goal determines the result
The experience and expertise of the interim executive manager are essential for success.
In addition, the biggest risk is that the company does not formulate its objectives well enough – and as a result hires an interim executive manager who does not have the right expertise or cannot fulfil the expectations. A well-defined goal makes it easier for the executive interim manager to focus and achieve results effectively. This is especially true for complex challenges.
In order to embed the added value of the interim assignment into the company, the interim manager should ensure that the improvements achieved are clearly documented. Employees must be involved so that they can continue to implement new structures independently. Technological solutions will then ensure long-term efficiency.
