As markets start to recover from the recent COVID-19 pandemic, it is legitimate to wonder what changes we will see in the Interim Management space as we move forward. Companies will reflect on new strategies, ranging from changes in business models to new investmenets and strategic projects. These are temporary situations where benefiting from external input can become an absolute requirement to acquire and retain a competitive position in the marketplace. But will business leaders really put their fears aside to invest once again in interim management? To answer this question, let’s take a look at 2 scenarios which could demonstrate the potential for an upturn in the interim management space.
1. Companies that are planning changes in their business model
As markets are changing even faster due to growing digitalisation, campanies are required to be more and more agile and flexible. New solutiosn can imply changes in the business model such as reach into new markets and segments, or the launch of new products and services. These actions may require a greater degree of specialization that may not be available in-house or for which qualified employees may not have time. In this case companies need the opportunity to go beyond their own employee base and to trust the fresh perspective of a senior interim management expert. Experienced in various areas, sectors and disciplines, the interim manager’s own challenge is to guarantee the success of these business changes. Interim Management resources provide fast results with a long lasting effect.
2. Companies that decide to make strategic investments or implement strategic projects
For companies that decide to consolidate their position – for example by integrating other businesses into their structure via merger or acquisitions – a skilled marketing professional will help to deal with the situation this generates by defining and implementing the most appropriate transition strategy to address such change. Working downstream into the business by coaching and mentoring the company’s management teams to ensure that the benefits the interim managers brings have concrete implications and added value for the core team.
The crucial step here is to make sure the selected profile best matches with the company needs and its marketing team. The easiest and most effective way to guarantee a proficient selection is to go through the services of a specialised interim management company.
Despite these scenarios we are sorry to say that we are still not convinced that the good old days of interim management are back – apologies to the optimists amongst you! Even if we see companies starting to invest and to trust again, two main reasons reveal that this turnaround is not about to take place just yet:
- Firstly, business leaders are still too conservative for the moment in their business decisions, debating if the market upturn is sustainable: they need to be reassured that they are back in a positive economic business climate.
- Secondly, the economic crisis has taught people to do more with less resources– a business dynamic they are not going to quit soon.
We are however confident that the recovery will provide a number of opportunities for interim management professionals despite the fact that companies and organisations will remain selective in their new business projects.
Are you thinking about making changes to your business ? We will discover the options together.
