FAQs
What is Interim Executive Talent?
Interim executives are highly experienced managers and executives hired on a short-term fixed duration basis for immediate hands-on resolution of business problems.
Who are interim executives?
Interim executives are typically “C” level executives who are sensibly overqualified for most client assignments. They are hands-on heavyweights who will take ownership of a situation. Typically, interim executives are either in transition to their next permanent position or prefer to work on an interim basis in place of permanent employment. They are proven business leaders with the specific functional knowledge necessary to solve critical business problems. Ashton Tweed matches seasoned executives from the Executive Talent Bank to companies in need of their expertise.
What is the average length of an interim assignment?
The typical duration for an interim assignment is 2 to 9 months but varies based on the company’s needs.
When would companies hire an interim executive?
Interim executives are ideal any time companies experience a transition or emergency. For example if your company is acquiring, merging, entering new markets, introducing new products/services, going through an IPO, downsizing or going through bankruptcy an interim executive may be the right choice.
In what type of situation could an interim executive help my company?
Interim executives can be the perfect fit for companies that:
- Cannot afford or do not need someone year round
- Experience loss or absence of key executive
- Need coaching and mentoring
- Need fresh, independent views
- Have projects that need leadership or may be behind schedule
- Are missing a particular skill set in-house
- Need crisis management
What is the difference between interim executives and consultants?
Interim executives fill a specific vacant position on a company’s organizational chart and are dedicated to that company. They provide just-in-time highly experienced talent to solve a business problem the company has money but not a staff member to address. Consultants do not fill roles on a company’s organizational chart. They address problem areas or special needs and are not exclusive to the company.
What are the benefits to companies hiring interim executives?
Interim employment offers four strategic advantages to the company:
- Speed. Interim placements match currently available candidates with market expertise to businesses with immediate need.
- Quality. Interim makes it possible to hire the best sensibly over-qualified candidates in your area of need.
- Focus and Perspective. Companies can find precisely the skills needed for a project or corporate transition, and apply them with pinpoint accuracy. Interim executives eliminate the need to have every possible specialist permanently on staff. And executives joining a company from the outside often bring fresh solutions to longstanding problems.
- Cost. Interim turns the expense of hiring talent into a variable cost. It allows companies to expand and contract with the cycles and needs of your business.
What is a typical interim assignment?
Interim assignments vary depending on the company’s needs. Interim executives are often hired to do the following:
- Fill a gap in management (from turnover, disability, creation of a new position, shifts in leadership ranks)
- Manage a complex project (IT conversion, market launch, prepare for major audit)
- Aid a company’s evolution (turnaround, IPO, business expansion, assimilate a merger, execute a divestiture)
- Jump-start a fast-growing company
- Secure financing
- Mentor younger executives (especially in a venture-backed start-up or a family corporation)
What are the benefits of becoming an interim executive?
Interim executives enjoy the flexibility of a variable lifestyle. They can relish the fresh challenges of a new organization. Because interim executives are not permanent employees, they can avoid company politics. For the short burst of the interim assignment, the daily pay is generally better than the scale for permanent workers.
What happens at the end of an interim assignment?
When the assignment concludes, the company’s obligation is over; the employee goes onto his or her next project. Many of our interim candidates are also available on an Interim-to-Hire basis, allowing clients to permanently hire candidates that are a proven fit.
To learn more about Interim Executive Talent please contact Ashton Tweed at info@ashtontweed.com.
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