Nick Diprose(45) BIE Interim Executive Log in to become a member of Nick Diprose's Fan Club!
Your business may be in need of an interim expert. However, tapping your networks will only get you so far if you're not exactly sure what you are looking for. An interim agency will help the selection process, but understanding the types of skills generally available will allow you to make a more educated decision in the end.
The challenges in the role on offer will largely determine what skill set is needed, however, there are a number of generic skills which should be present in any interim to underpin their success in the role.
Board Level Experience with a Range of Companies
Interim Agencies have standards that they like each of their interims to reach. This is because they know interims who demonstrate these qualities are most likely to succeed in their assignments. In particular, they look for interim experts with a track record of at least five to ten years at board level within companies with £20 m to £2 bn turnover. Typically they might have gained hands-on experience within a mix of blue-chip and smaller organisations; they are less likely to have worked only for one organisation or to have moved a lot without evidence of solid achievement in their permanent career. They have held a senior general management position, for example chief executive, and/or have been a head of function - finance director, IT director, sales and marketing director, human resources director, manufacturing director, logistics director.
Hands On Project Expertise
Many interims are also strong project or programme managers. Typical change implementation experience would include turnarounds, restructurings, acquisition integration, mergers, heavily backed start-ups, downsizing and preparation for sale or closure. The ability to function at different levels and to show flexibility is vital in a change situation as is the capacity to adapt quickly to other cultures, sectors and organizations.
Joe Sinyor, Former Operational Managing Director, Terra Firma Capital Partners, looks for adaptabilty and experience: "I tend to overhire: you must have someone who is demonstrably going to succeed quickly in the role. They need to be particularly sharp, adaptable, have great team skills and also have an understanding of how private equity works, especially around cash and speed."
High Achievers, Politically Astute
Personal attributes will indicate a high achiever - someone who is proactive, results-orientated, and positive, prefers a hands-on approach and makes things happen. Their CVs will outline that they have progressed through achievement within major change environments, not simply by political manoeuvring. They are someone who is politically sensitive but is not drawn into the politics, understands the need to stay objective but will not go "native", particularly on an extended assignment. Exceptional interpersonal skills and a positive attitude should be immediately apparent during the initial selection 'interview'. This interview should be approached as a business analysis/information gathering session with the interim taking a proactive rather than passive approach.
Typical Interims are Flexible and Pragmatic
Typical interims include 'Jim' who has been a professional interim for the last four years. As a finance director, at both divisional and group level, of private companies and plcs, his permanent career provided him with the experience of undertaking a number of major change programmes in which he played a significant role in ensuring a successful outcome. In particular, he has integrated several major acquisitions, restructured his organisation and been a key player in two significant turnaround situations. He is fluent in both German and French and has a good perspective and understanding of the culture of a business.
Following the take over of her company, Helen has just left her role as HR director of a retail operation. She is based in London with her partner, and feels that this would be a good time to start her own business as a professional interim executive. Having spoken to other interim HR directors, she feels that market conditions in her field are right and, backed by her financial security, has decided to fully commit to setting herself up as an independent. She is mentally prepared for a period of downtime whilst marketing unless the right opportunity comes along quickly. Having researched her routes to market well and given a clear message as to her strengths in change management implementation, opportunities are beginning to come through and she has been put forward for two roles, one of which is in Scotland for six to eight months. In order to secure that crucial first assignment, she is prepared to accept the first offer regardless of the location. Also, her experience in public sector transformation programmes will open up further opportunities.
Conclusion
Interim executives with the right qualities are a rare breed and are in constant demand. When the right candidate is identified and available, wise clients move quickly to secure the interim's interest before they are taken on elsewhere. Knowing what to look for helps the decision making and speeds the selection process up.
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Nick Diprose is Managing Director of BIE, market leader in the supply of Interim Managers across all key business sectors and and functions globally. He has successfully delivered interim management solutions in the UK and in international markets for a wide client base including private-equity portfolios through to large UK, US and European companies. Nick can be contacted at nick_diprose@bieinterim.com or visit http://www.bieinterim.com
Disclaimer: All information on this site is provided for informational purposes only! By no means is any
information presented herein intended to substitute for the advice provided to you by any health care or other professional
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