Navigating Change: How Interim Management Consulting Can Help

The business landscape is evolving by the day. If one had to compress the evolving market to three main reasons, they would be technological advancements, an increasing interest in sustainability, and rising consumer expectations. 

To survive in a dynamic environment, businesses must learn to embrace change. This is a good thing because change opens the doors for innovation, competitive advantage, growth, and better marketing opportunities. 

Transformation efforts may be needed for various reasons – market shifts, internal restructuring, digital disruption, etc. The problem is that it is not always easy to navigate change. 

Harvard University mentions the main reasons why change management efforts fail, including a poorly defined strategy, failure to address resistance, and unrealistic expectations. The good news is that you need not navigate the ‘change maze’ by yourself. 

Interim management services can help you. In this article, we will discuss the benefits of these consulting services in driving transformation. 

What is Interim Management All About?

Interim management is the process of temporarily hiring experienced managers to achieve specific organizational goals and projects. Now, it’s crucial to understand the focused nature of interim managers’ work. 

The term ‘interim’ means ‘in-between’ or ‘in the meantime.’ This means interim management consulting services are utilized during a specific period – transition, change, or business crisis. Combining their wealth of experience and industry knowledge, interim managers can handle management projects that require an immediate response. 

How Interim Management Consultants Can Help Drive Change 

According to a recent report on interim management, the top industry verticals where this service is required include automotive, pharmaceuticals, and Information Technology (IT). The main question is how interim managers are helping and can help organizations with transformation efforts. Let’s discuss those in detail. 

Streamlining Operations 

One common occurrence at the time of business change is the chaos that ensues. Usually, the daily workflow and enterprise processes are not organized enough for efficiency. Interim managers can bridge the gaps for more streamlined operations. Some ways they will do so include –

• Managing organizational and stakeholder concerns 
• Automating recurring tasks 
• Taking swift action in case of a sudden crisis 
• Offering unique opportunities for vetting candidates, especially when it comes to senior roles 
• Providing cost-effective alternatives to hiring permanent executives 

Implementing New Technologies 

A business change induced by technological disruptions is good at large. If the transition period is handled well, the organization will get to the other side stronger and well-equipped for future changes. However, not everyone may have the experience and expertise needed to implement new technologies (not even the higher management in some cases). 

Interim managers can intervene in tech adoption in the following ways –

• They can provide their expertise in different industries and how a particular technology is utilized in each.
• They will identify organizational needs to assess whether certain technologies are useful. 
• They can conduct training sessions to familiarize employees with the new technologies. 

Improving Communication 

Be it the real world or that of business, communication is crucial for success. Unless every member is aware of the vision and goals of the organization at large, growth becomes unattainable. According to SierraConstellation Partners, interim managers will fill all communication gaps, thereby breaking resistance to change. 

This process will include the following –

• They will convey the vision and short-term or long-term goals to all employees in a straightforward manner. 
• Concerning the crisis or change, interim managers will communicate exactly why the process is necessary and how it will affect everyone. 
• They will conduct one-on-one meetings to discover the root of resistance and break it using two-way communication. 
• They will provide timely feedback and recognize employees for their achievements, milestones, and contributions. 
• Using flexibility, they will gently guide employees toward greater innovation. 

Interim Management Consulting in Action 

Now that we have discussed the three main benefits of interim management in navigating business change, let’s see what that would look like. We will take a general real-world example of this. 

Suppose a global manufacturing company undergoes internal restructuring due to considerable market changes. The CEO decides to hire interim managers with vast experience in transformation management for manufacturing firms. 

The interim manager steps in, takes charge, and starts by identifying the key issues. They develop a strategic plan to address these issues and implement it quickly. In short, they streamline the operations, make the big picture clearer for everyone (even those resistant to change), and introduce two new technological tools. 

Within a short period (say a month or two), the company witnessed significant improvements. These include greater ROI, enhanced efficiency, and better productivity. 

Interim management can do the same for your organization. These professionals are high in demand due to the growing need for experienced strategists to handle business change. 

The largest growth in some cases is experienced by mid-sized companies in their challenger stages. Given the focus on Environment, Social, and Governance (ESG), the demand is only expected to rise further.