There are specific situations that arise in organizations in which hiring interim management is most valuable to the organization. The book Leadership on Demand by OneAccord Principls describes 7 scenarios when an interim manager can make a significant impact on the bottom line.

1. Significant revenue or marketing event is in jeopardy

A significant revenue event could include an upcoming valuation, fiscal year-end, or a pending merger. Bringing in an experienced interim executive can give the organization a “shot in the arm” to help meet revenue goals when they carry additional significance.

2. Totally new strategies or programs must be implemented or tested

According to David Altounian, CEO of iTaggit.com, “I’ve learned that interim leaders in marketing are particulary useful when we’re implementing a type of marketing strategy or tactic that is completely new to us”. When an organization is implementing a new marketing or sales strategy but lack expertise, hiring an interim manager with specific experience in this area can help successful implementation of the new strategy.

3. A gap exists in a key position

When a sales or marketing executive leaves your company, an interim executive can fill the position and maintain momentum until a permanent replacement is found. Since there can be great opportunity cost to leaving the position vacant for months, hiring an interim executive can be an ideal solution to fill the gap.

4. A specific skill set is needed, but not permanently

If you recognize that your organization needs a particular skill set, but the skill does not exist within the organization, an interim manager can be a great source for that skill.

5. Additional bandwidth needed, but not permanently

If your company faces a temporary need for additional bandwidth at the executive level, such as during a product launch or formulation of a new strategy, tapping an interim executive can be a successful method for temporarily increasing bandwidth.

6. Objectivity in a leadership position would be beneficial, especially during strategic planning

An objective and outside perspective can help an organization make decisions that are less affected by internal pressures, politics, and myopic thinking.

7. Hands-on coaching and training is required to elevate skill and process knowledge of existing staff

Bringing in an experienced interim executive can provide existing staff with beneficial executive coaching and training. Interim executives often have 20+ years of experience, and they can transfer their knowledge and advice to current executives.

Photo by barunpatro