Not for the faint hearted:
For the past 25+ years I have been working as a Management Consultant and Interim Manager around the world. Therefore, it is a practitioner's view of change management in interim management situations, typically in dire situations.
When you work as an interim manager you essentially end up working for companies that have had a problem or two, either their profits and liquidity went south - sometimes years. In the U.S., sometimes quite rapidly - they have a clear leadership problem or are in the best position. There is a vacancy due to illness or accident which has to be filled immediately for a limited period of time. In any case, it's like parachuting in the woods, not knowing what swamps and wild animals you read about would expect you to. A man once asked me: "Now that you're here, what are you going to do about it?"
As an interim CEO and with substantial experience in the healthcare industry, I liken the position of the company to a patient sitting in a consultant's hospital surgery, awaiting diagnosis and treatment. Of course the difference is that the company speaks with multiple voices and what's more, most of those voices have their own hidden agenda. Sometimes there is already a diagnosis even if it is wrong. The company also has group of GPs, i.e. auditors, banks and sometimes a strategy consultant who needs a person implementing the strategy change by implementing some surgeries. And, the quality of early diagnosis varies widely. Whatever metaphor you use to describe the situation, you need to be a quick adaptor and have a keen survival instinct.
Before the First Day:
Preparation is paramount. Apart from gathering information about the situation, there are several issues that need to be clarified:
1. Set-up of Assignment. This is important not only because it defines how employees see you and the impact you will have, but also because of your legal risk. Not surprisingly, the higher the hierarchy, the riskier the position for the interim manager. You will need to build in certain safeguards (the types of financial authority and decisions that require board approval) into your contract and the company will need to cover you in their insurance policy. To your dismay you will sometimes find that they don't have one, but that's another story.
2. Know the expectations of the stakeholders. Banks, shareholders and management may have differing views about what should be done depending on their particular stake in the company.
3. You need to get a picture of the situation as detailed as possible. Therefore, talk to as many parties as possible beforehand to know the expectations and more importantly, the motives behind them.
4. Layoff: Careful about the rules and procedures of employment law. Your case must be indisputable.
5. As everyone can imagine, time is of the essence. This is always important, but never more so if a company is in financial trouble or is in complete disarray. So you have to get your facts together real quick and speed up the pace all the way.
About The CEO:
Cyril is an international C-level executive who brings years of experience in global operations, sales and business services for all sectors managing cross-functional cultural teams and building strategic partnerships in an increasingly competitive environment.
In 2010, and after 15 years in the corporate world, Cyril decided to set up International Executive Consulting, LLC to help other businesses achieve their goals, trying to change the world one company at a time. For more information, visit International Executive Consulting LLC now!