Having played an interim executive role within a large UAE family group, I’d like to share some insights on interim management and how businesses in the region can benefit from it to fill leadership gaps, manage transitions, drive transformation and lead special projects.
As per the Interim Management Association, “Interim Management is the rapid provision of senior executives to manage change or transition”. It is a concept that has been around since the 70’s and is well-entrenched in Europe. Although interim management is not as common in MENA, there are signs that more businesses in the region are deploying interim executives. This trend is set to increase as organizations realize the rapid and targeted benefits that this type of management can provide.
These benefits include:
Immediate expertise – businesses get the right people, with the right skills, right away (typically within days)
An objective perspective – interim executives can provide an objective perspective unhindered by internal politics or agendas
Cost-effectiveness – hiring costs, benefits and retention costs are avoided
Change management – interim executives can drive and manage major organizational change that may be beyond the scope and skillset of existing management
Crisis management – interim executives can help the Board manage financial and operational crises quickly
Knowledge transfer – because of their expertise, interim executives can mentor and guide the existing management team
Performance focus – because they are brought in for specific projects or periods of time, interim executives are focused on quickly achieving targeted objectives
Flexibility – interim executives stay on only as long as required
It is important to note that there are key differences between interim executives and management consultants. First, they are hired based on a specific skill set that is tailor-made for a particular role in the organization – so they have exactly the right skills. Second, they work as members of the executive management team in the same way as a permanent hire – so they are under the direct control of the business. Third, they may be able to drive change more effectively than external consultants due to their position as part of the executive management team.
In short, companies can use interim executives to quickly address urgent needs, manage periods of change, and leverage specialized skills for short-term goals, thus enhancing agility and strategic execution. Interim executives provide immediate expertise, flexibility, and a fresh perspective without the long-term commitment and cost of a permanent hire.
The use of interim executives is accelerating globally as businesses pursue the never-ending goals of organizational agility and rapid solutions to complex problems. You can expect to see the same in MENA. In fact, according to Boyden, current trends suggest that interim managers will replace much of the role of current management consultants as businesses become further specialized and require even quicker solution
