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UK BUSINESSES NEED TO ADD EXECUTIVE INTERIM MANAGEMENT TO THEIR STRATEGIC ARSENAL
- new CBI/BIE guide published to support businesses
9 July 2002
UK businesses need to use interim executives as a strategic resource if they are to see the true benefits of ‘head-renting’, according to a new guide launched today by the CBI and BIE Interim Executive. Most importantly it outlines the critical role of the intermediary – the ‘head-renter’ - and the processes needed to select the best available interim executive to ensure success.
“Many businesses have used senior-level interims to manage sudden absences in their organisation,” says Martin Wood, chief executive of BIE, the UK’s leading specialist provider of interim executives. “But they are missing a trick if they don’t consider the strategic options these over-qualified, experienced managers can provide.”
A recent ‘Captains of Industry’ survey by BIE and MORI* found that 18% of companies surveyed still regard interims as a distress purchase – someone to ‘hold the fort’. However, the main growth in the use of interims is in strategic roles, from acquisition management and closure to turnaround, mentoring and momentum programmes.
The BIE/CBI guide – ‘executive interim management’ – explains the development of the role and how organisations can maximise the opportunity to use this resource. It stresses the importance of selecting a proven provider and includes guidelines to choosing an effective one.
The BIE/MORI poll revealed that while 59% of those surveyed who had used an interim before would consider using one again, just 4% of those surveyed who had not used an interim before would consider using one in the future. This disparity between the generally positive experience of those who have employed interims, and the negative perception of those who haven’t is one reason BIE and the CBI decided to produce this guide.
“Interim executives are experienced, capable, proven executives,” says Martin Wood. “I hope this guide will help businesses understand more about this rare, talented breed and how they can work with them to benefit their organisations.”
Digby Jones, Director General of the CBI, adds: “Interim executives bring a wealth of experience and business acumen that help to set a company on the right course for its future.”
‘Executive Interim Management' is being distributed to members of the CBI via Business Voice magazine. Further copies can be obtained from BIE by calling 020 7222 1010.
To discuss your interim management requirements with BIE call +44(0)20 7222 1010