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Interims In Action
5 Trends To Look for in 2024
In 2023 we deployed InterimExecs RED Team into a wide range of companies both for-profit and non-profit, ranging from software to crypto, healthcare services, manufacturing, to med device.
Over the course of hundreds of conversations with owners, investors, and management teams, we saw recurring themes that we anticipate having a continued impact in 2024. Here are trends playing in the interim and fractional space:
Interims as SWAT Teams
When we formed InterimExecs RED Team almost 10 years ago, we set out to leverage the power of complementary skillsets that each executive brought to the table. That has translated to an increase in the number of team deployments, especially in high growth environments where a team needs to ramp up fast.
Look to our team deployment with AHIMA for a prime example of bringing in three unique specialties (CFO, CHRO, and Content Licensing) to lead the organization through an M&A process from diligence, acquisition, and integration:
I had a conversation with you and your colleagues, and within a day, you sent me RED Team members. And by day three, I talked to them, and by day four or five, they were engaged. And they have been fabulous. I can’t say enough good things…you’ll be my first call, always..
-Amy Mosser, CEO, AHIMA
More Owners are Prepping for Exit
We’ve seen a steady uptick of owners reaching out who were pursuing more freedom and flexibility.
Whether they wanted to build value in their companies to work toward an eventual sale, or they knew mentorship, people, and systems were needed to successfully handoff to the next generation, interim executives proved to be a strong resource to help get them to the finish line.
How do interims work with founder or family-owned businesses? Check out this webinar we hosted discussing the ins and outs:
Interim executives serve at the pleasure of the company. Especially in transition and integration work, we do all kinds of work pre-transaction in terms of getting ready — prepping for that exit — then going through negotiations and through diligence to make sure your deal finishes cleanly and on time. Then comes integration.
-Robert Jordan, CEO, InterimExecs
Interim and Fractional Continues to Go Mainstream
In 2023 we were featured in 50+ articles and podcasts ranging from talking to the Wall Street Journal about the rise of fractional leadership to speaking with HR managers about how to spot fakers: yes, interim and fractional may be the latest buzz words, but the true interims have incredible track records and the mindset to be change agents time after time.
Interims are in the business of radical change, and they are hooked on it. They enjoy problem-solving so much that they don’t enjoy the peace that comes after resolving an intractable difficulty. They just go looking for the next problem to solve.
The Street: HR Directors: Learn to Tell the Difference Between Effective Fractional Executives and ‘Tourists’
Spinoffs, Recaps, and Turnaround are Ramping Up
We have seen a select group of RED Team members who have a desire to invest in businesses or zero in on a performance component with more upside. This has led to more conversations around troubled or discarded assets.
Formed to assemble leadership teams and capital sources from like-minded PE funds and investors, RED Ventures has increasingly been a focus to identify opportunities to lead recap, spinoffs, and carve-outs.
Executives who think they have game should get in touch to see if they will be a good fit.
Where InterimExecs really shines is in capturing the entire toolbox of skills in concert with the personal essence of their RED Team leaders. This allows them to place these special talents into opportunities where their experiences and skills are highly relevant.”
-Steve Hummel, RED Team Interim CTO
RED Team Applications are on the Rise
As interim and fractional work become widespread, evermore executives apply to the RED Team. Our commitment remains consistent: create a team of rock star interims who take action and act with integrity.
If you know of a trusted CEO, CFO, CIO, COO or other C-suite interim/fractional exec who meets these demanding criteria feel free to send them our way. But no job seekers please.
Genius is in the idea. Impact however comes from action.
-Simon Sinek
Explore the Benefits of Interim
- Access to top executives wired for challenge
- Skip the long executive search process
- Backed by a team and wealth of knowledge
- Fresh thinking and best practices
- Action and results – not just advice!
- Proven process to look at your unique needs
- Flexible contracts
- Mentorship and development for your team