The most apparent use of interim leadership is to fill a position which you recognize your people do not have the experience to perform. You may also want to have a more seasoned executive provide “how to or by example” training, during their temporary contract, for any employees your considering to fill a postion. The ability to get seasoned managemnt who can get the job done and lead by example will give your employee(s) the ability to “see” what this job is going to take to get done!
Around 25 percent of all interim executives are hired to fill shoes suddenly left vacant. If the executive is suddenly dismissed, quits, or for other reasons cannot continue in the position, the effect of the loss on a small business can be catastrophic.
This can have a much greater impact to small business, where succession plans are lacking, or tightly held small companies.
Generally the replacement of these key management positions are slow process.
An Interim executive is often the best choice to ensure the confidence of employees, customers and lenders.