Sometimes an organisation under financial pressure needs additional resource and needs it quickly. This can happen for many reasons; a sudden departure, long-term sickness, maternity leave, transactional activity, financing projects, new regulations or compliance work and for other reasons. All require somebody who can step in and get up to speed very quickly and stay for a finite period until the project is complete, the role is filled or whatever else brings the need to an end. Our professionals have years of experience at senior level in business and, with much of the work we do, are used to stepping into such situations and making an impact almost immediately. Unlike agency providers, we do not just fill a role and then step back, but will maintain contact with the client and the individual, ensuring there is support and advice when needed and that the client’s goals are being met.
Other situations occur where the business is not under financial pressure but needs a turnaround. This often happens after a buyer, either Private Equity or a Trade buyer, has purchased a distressed or underperforming business at a discount and is assembling a management team to realise its potential. With the financial stress removed, the new owner may not need a BM&T professional with stakeholder management skills but would prefer someone with operational experience to quickly integrate into a team on an interim and short-term basis whilst the longer-term requirement is evaluated. We can meet this requirement through its subsidiary company InterimConnect.
InterimConnect provides a service significantly different from most interim providers. From its database of more than 1,600 interims it can quickly match needs to available resource, providing the client with a recommended short-list to interview and select. The contract is then made between the client and the interim, removing a layer of third-party administration and giving direct control of the selection and price negotiation to the client. The interim pays a small commission to InterimConnect. This arrangement results in more control of the process for the client and a more cost-effective solution.
Notes, insights and reflections from Matthew, one of our directors and turnaround experts, as he works with companies during Lockdown.