Recent studies by
Monster.com and the Human Capital Institute indicate that workers are using the
downturn to learn new skills and prepare for career changes, or to develop
their own self-employment or freelance opportunities. Another key finding is that
companies have increased their usage of contract talent, such as interim executives.
These two trends
dovetail with the fact that many executive-level professionals are being forced by economic conditions
to remain in the workforce longer, creating a perfect storm for the growth of
the Interim Executive Solutions category, also known as “leadership
on-demand.”
Companies in every
industry and of every size are leveraging interim executives for key growth
initiatives and/or problem resolution. In fact, 55% of Monster.com
respondents said they will increase the use of flexible staffing models.
Does this intrigue you? Pamela Wasley,
the CEO of Cerius Interim Executive Solutions, offers the following tips for
mid to upper level professionals interested in positioning themselves as
interim executives:
- Showcase your
record. Having a winning track record in a
particular industry or discipline is a must for high demand Interim
Executives. Have proof of growing business units, leading cost
saving initiatives, streamlining operations and establishing effective
organizational processes. The goal of an interim executive is to get
results fast – within months, to identify the challenges or areas of
opportunity, and to work with the executive team to develop and execute an
action plan to achieve the objective. Then, you depart, leaving a
valuable knowledge base with the permanent
team.
- Focus on your
strengths. Companies that engage
with interim executives are looking for C-level and VPs of the executive
branch in specific functional areas such as sales, operations, marketing,
HR, IT, engineering, R&D and finance. Emphasize your core
expertise rather than try to be a jack of all trades.
- Work your
network. Align yourself with a reputable interim
executive management firm whose core business is interim executive
engagements and can provide all the other functional areas (marketing,
human resources, IT, finance, etc.) that might complement your area of
expertise. Interim executive firms appeal more to businesses today over
the individual who is doing interim executive work or consultancy on their
own due to a firm’s guarantee of success for the interim executives who
work within their firms. Once you’ve aligned with a firm, maximize your
network of colleagues, associations, alumni and social connections to
learn about their companies’ challenges and offer expertise about how an
interim executive can help achieve their objectives in a short period of
time.
LaSalle Network, a Chicago-based staffing and recruiting firm, has seen this trend lately, as well. Companies are utilizing contract talent to keep their organizations moving forward in these stringent economic times. I agree, the key to securing an interim executive spot in this market is utilizing your network (don't forget LinkedIn and Twitter!) and growing your expertise in a specific area - companies would rather have a stellar candidate with a specific focus and expertise vs. a mediocre candidate who has minimal experience in lots of areas. It's competitive out there, but there are opportunities!
Posted by: Megan Gentille, LaSalle Network | September 08, 2009 at 07:05 PM
@Megan: I featured Tom Gimbel from LaSalle in my recent book, Success for Hire. Did you know?
Posted by: Alexandra Levit | September 11, 2009 at 02:24 AM