Interim & Fractional
A short-term or project-based leadership by a CEO, President, or C-Suite position can have very positive outcomes for an organization if the right person is filling that seat. The importance of the right person who has the background and experience is half the goal. The other half of the goal is someone who is a match culturally with the ownership and board on where the company is and where it is going. Without a cultural match, the foundation is not solid and the issue necessitating an interim leader can be worse in the end. The Sofus Group can provide or recommend interim leaders in several leadership roles, ensuring both the operational experience and cultural fit for the position and situation.
Keeping the Ship Sailing
There is a difference between keeping a ship afloat and keeping it sailing. During times of leadership vacancy, an interim leader needs to be able to not just keep a business from going down but keep it moving forward. The ability to step in, assess the situation, and keep objectives on schedule is paramount to the short-term and long-term viability of the company. Choosing the right interim leader for the situation and what is going on in the company is a top priority.
The 5 D's
Leadership voids are created for all types of reasons and a business has to have an interim leader that functions in the organization and address the reason the void was created in the first place. The most prevalent reason for a void in leadership is outlined as “The D’s”.
Death – A leader dies unexpectantly and leaves a void that is not easily or quickly replaced internally. This may also include a prolonged sickness where the leader’s focus is on his or her immediate health or the health of a spouse or child.
Contact Sofus Group to discuss if an interim or fractional leader is right for your situation and how to move forward in the right way.
Direction – The void is not a physical one, but a cultural or operational one where the leader does not have the skills, background, temperament, or cultural insight to be able to lead the organization through a project, acquisition, transition, or immediate need. Executive and leadership coaching can bring this leader up to the standard needed over time but does not address the immediacy of the situation. This type of position is usually combined with executive and leadership coaching to strengthen and broaden the experience of the leader and to address the immediacy of the business at the time.
Drugs (Addiction) – Addictions can take many forms and severity. When the addiction takes the leader out of his or her position or the ownership, family or board is forced to remove that leader temporarily for his or her good and the good of the organization. An interim leader is then needed to step in that can facilitate the repair of any damage done and continue to move the organization forward while the leader heals and the board or ownership decides the next best step.
Disinterest / Dismissal – A vacancy can also be created by a leader choosing to move to a new position or a company needing to make a switch. An ideal situation would allow ample time for a search for a new leader to fill that void ahead of the departure of the existing leader. Under less-than-ideal situations, a company has to fill a void in a short time frame while looking for the next person to fill that role. An Interim CEO, President, or C-suite Leader can not only keep the company or organization moving forward but act as an interested third-party part of a search committee. The main concern is getting the right interim leader in place as soon as the vacancy is known.
Divorce – In a family business environment, a leader who “married” into a business may be forced and desire to leave the family business. Even when there is a strong governance policy and procedures in place the divorce of a leader and his or her spouse may create a void in the organization. It is important to have an interim leader who can stabilize the company and help create boundaries and direction to move the company forward. It is paramount that as the family settles internal issues the business remains stable and focused on the day-to-day operation.