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Interim executives valuable in recession
Interim executives can help organisations reposition themselves in the current economic climate, according to an industry specialist.
Charles Wilson has recommended the use of interim managers as they have the ability to implement significant changes within companies in difficult market conditions, the National reported.
Highlighting the long search times associated with recruiting a chief executive or other senior board members, Mr Wilson claimed that many corporations simply need an experienced executive for a short period of time.
He told the newspaper: "You may want some good advice from a guy who has been through a few recessions and you don't want to pay a consulting firm a ridiculous amount of money."
In addition, Mr Wilson added that an experienced executive can help businesses assess which employees need replacing and what alterations need to be made to operations.
Last month, James Hunt, executive committee member of the Interim Management Association suggested that transitional executives can identify solutions for a lower cost than consultants.
Categories: Board & CEO