In today’s dynamic and unpredictable business landscape, organizations often face the challenge of filling critical executive gaps quickly and effectively. According to a recent survey, 47% of CFOs reported being understaffed in critical roles. The traditional approach is to engage separate entities for interim executive services and executive search. However, a more strategic and streamlined solution exists — leveraging a single organization to support both. This post explores five benefits of this approach and how it can unlock value for your organization.
- In-Depth Understanding of the Organization and Role: The interim executive gains a deep understanding of your organization’s specific requirements and desired executive profile during his/her tenure in the actual seat. The ability to assess your immediate needs, gain insights into the unique aspects of your organization, and identify the critical skills and attributes required for the role is information that is critical to a successful permanent search.
- Enhanced Recruitment Process: Because the interim executive and search professional are colleagues within the same firm, insights about the ideal profile are naturally shared. The organization’s executive search team, also equipped with industry knowledge and a vast network, can more effectively narrow the candidate pool. This integrated approach ensures a comprehensive and targeted search, increasing the likelihood of finding the best-fit candidate.
- Seamless Transition and Continuity: A single firm is motivated to deliver a seamless transition and continuity throughout the entire process. The interim executive, who has already become familiar with the organization’s culture, objectives, and challenges, collaborates with the search team to effectively onboard the new hire with built in overlap time.
- Minimizes Risk: Unfortunately, misaligned expectations do occur, which can result in a departure within the first 6-12 months of an executive placement – a very costly outcome for all parties. With the benefit of a fully integrated process, the new hire will come to the organization armed with firsthand information about the undertaking and expectations, which minimizes the risk of a mismatch.
- Long-Term Partnership and Support: A true partnership is based on elements like trust, collaboration, and demonstrated results. An organization capable of providing multiple services simultaneously is more invested in the long-term relationship.
Leveraging a single organization for both interim services and executive search needs can unlock significant benefits for your organization. By partnering with a trusted organization that understands your unique needs, you can confidently navigate executive transitions and build a high-performing leadership team that drives your organization towards its strategic objectives.
Interim Services and Executive Search with E78
This is exactly what we did with a $125 million family-owned lubricants and fuel services company that faced challenges with their sales leadership. Having experienced significant turnover in their Director of Sales role, the company was struggling to find the right fit and drive strategic growth. They engaged our team to provide a part-time VP of Sales on a project basis to assess and reconfigure the sales team structure, develop a new commission plan, and implement training initiatives. Simultaneously, we initiated a retained search for a long-term sales leader. The VP of Sales quickly made significant progress, prompting the company to consider candidates above the Director level for a strategic leadership position. This engagement led to improved sales strategies and revealed the potential for strategic and operational leadership within the organization. Additionally, E78 Partners helped project manage a major supplier transition, coordinated with the oil and lubricant company, and supported the hiring of a local VP of Sales candidate. The client expressed their appreciation for the comprehensive work and positive impact on their sales organization.
Whether it’s interim resources, executive search, succession planning, leadership development, or strategic consulting, E78 has the resources and expertise that is simply better equipped to support an organization’s long-term objectives. Learn more about our Executive Services and contact our team today to learn how we can support your needs.