Turnaround directors offer businesses 'advantages'
Interim executives can offer businesses several advantages in the present economic climate, a corporate planning specialist has claimed.
Phillip Mydlach has advised companies with stagnating revenues to consider hiring transitional directors as they bring a fresh perspective to business goals and do not require the long-term remuneration packages of permanent executives.
The owner of Mydlach Management Advisors also highlighted the growing trend of talented board members choosing to embrace interim positions as a career option, which in previous generations would have been unthinkable.
Writing for BizTimes.com, the performance improvement expert argued that this has occurred because more executives are looking for employment that can offer them greater freedom.
He wrote: "Many skilled executives find themselves in a place where this type of arrangement is appealing.
"Whatever the reason, there are experienced, highly skilled business leaders who are willing and able to fill the talent gap."
The value of interim management specialists in a recessionary environment was also identified by the staffing expert Charles Wilson last month, who claimed that many organisations need an experienced head for a short time period.
Categories: Board & CEO