ROI – Return on Investment or Return on Interim?
Following on from my summer 2014 blog – Executive Interims and ROI – it is particularly pertinent to consider the implications and benefits of successful Interim Managers as we prepare ourselves to enter the new calendar (and financial, for some businesses) year.
January is a month filled with optimism, budgeting, strategic definition and, of course, employee movement. Executive Interims impact each area of a business and this means that their output and “value” is scrutinised more closely and with greater expectation than some permanent employees.
A typical Executive Interim is acutely aware of the expectations and perceptions that surround their appointment. For a career Interim, the “toolkit” they carry is as broad or as narrow as it needs to be for the opportunity that they have been entrusted with. Their ability to successfully navigate their way round a diverse (and often disparate) stakeholder community, without becoming embroiled in the internal politics of any given situation or company, compliments and enhances their technical competence which, in most cases, results in a very successful outcome for all parties.
Whilst the daily rate associated with the selected IM is likely to be above and beyond that of a permanent counterpart, the output and business impact is often far greater as they are able to deliver benefit quicker through focusing on the task at hand and not being distracted by local politics or personal agendas. In fact, most Executive Interims are driven by the task on offer and the challenge of meeting or exceeding the expected outputs – the ROI.
ROI - A performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments.
As the market leading Interim Management service provider in the UK, Interim Partners absolutely recognises the value that clearly defined contributions and outputs have in ensuring a satisfactory result for both parties. Because of this, we have evolved our cutting-edge ROI (Return on Interim) process to pro-actively encourage both the Client and the Interim Manager to discuss, agree, and commit to a key set of deliverables within the boundary of the assignment. Each week both parties are prompted to review and confirm progress allowing any “drifting” to be recognised and re-balanced, hopefully ensuring a successful on-time completion of assignment with good ROI.
Over time, the Interim in question will have a very well-documented history of achievement and the client will have the satisfaction of knowing they are hiring a tried and tested expert. The assurance that we would be able to provide the client regarding the capability and quality of our Interim would then further extrapolate the return on investment by allowing us to execute a quick, efficient service with minimal risk. Who wouldn’t want that?
David Hazeldine is the Senior Consultant for Consumer, Retail & Technology at Interim Partners.