May 01, 2006
While interim employment is not new, the demand for seasoned, high-level managers to serve as interim or temporary executives is fast-growing at companies in all stages from small to large organizations.
“The landscape for temporary executives ... is pretty robust,” says Joseph Daniel McCool, editor-in-chief of New Hampshire-based newsletter Executive Recruiter News. Some firms that specialize in placing interim executives say their business grew 50 percent from mid-2003 to mid-2004, according to Los Altos, California-based Staffing Industry Analysts. “The demand has increased substantially over the past year,” says Marybeth Fraser, an Alexandria, Virginia-based consultant who sometimes serves as an interim marketing executive.
At Ashton Tweed, we are delighted that our Life Sciences clients, and the community in general, are supportive of this unique concept of “just-in-time” executive talent. We are pleased to report that our placement of interim executives is a confirmation that this trend is indeed a reality.
Risk reduction is one of several reasons why many employers choose to hire an interim executive for several weeks or even up to a year. “Companies are growing once again, but now they are less willing to take a chance,” McCool says, adding that “they don’t want to have to pay severance if there’s a bad hire; an interim vice president or director lets companies explore new business opportunities.” A company may seek a permanent executive, but for the first time, may be more willing to try out the interim executive and consider the interim-to-hire option.
Moreover, some companies may need an executive interim employee for just one project. A smaller company may require the part-time services of an executive such as a chief financial officer to oversee a scaling-up of the business, for instance. An employer looking to clean house may want a hired hand to act as the “bad cop,” making difficult changes, and then depart.
When executives complete an interim assignment, they often have another offer waiting that has been secured by Ashton Tweed. Proven executive talent, especially the kind that get things done, will always be in demand. Contact us to discuss what Interim Executives can do for your organization.
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