High-level professionals and executives are being used more and more at companies in temporary or contract assignments. How can they help your firm?
Temporary executives are used for different purposes – to get a new project started, or to fill in until a permanent executive is hired. These executives now make up 11 percent of the entire temporary workforce.
The most in-demand temporary executives are financial experts, needed to help companies comply with the strict federal regulations for accountability. But companies are using temporary executives in marketing, human resources and for managing projects.
Often firms facing an extended search for a new CEO opt to hire a temporary chief executive, rather than leave the position unfilled for the six months or more that an executive search often takes.
These temporary executives are people who may have lost their jobs through layoffs of high-level workers, or individuals who took early retirement. They opt to take the temporary jobs to maintain their skills while looking for a new, permanent position. These executives typically are very conscientious about the work they do, even if it is only for an interim period. They take their commitments seriously. They understand their impact on a company, and realize that anything but their best, sustained effort will affect their reputation .
Often, executives are hired on an interim basis with the understanding that if the person works out well, the position will become permanent. The short-term assignment gives both the executive and the company a chance to size each other up, and to gauge whether the person will be a good fit with the company. The job is about more than just skills, but about relationships, and so taking a test drive in the job gives the executive a chance to interact with others on the management team and find out if they are compatible — if they can work together.
Interim executives are not just consultants, who tend to divide their time among several clients. Temporary executives are more sensitive to the needs of the company, have a greater sense of commitment and ownership. They are not focused on getting a certain result, but take on all the duties that go with the job.
Temporary executives are professionals who normally have many years of practical experience. Part of the reason for the growth in temporary executives may be due to the aging workforce. People are now living longer, and even though many still retire, they remain healthy and productive and want to use that time doing something they find exciting and fulfilling.
If you’re looking for high-level contract staff to help your company through a crisis or while you conduct a search to fill a CFO, CEO, CIO or other management position for your Manitoba, Winnipeg firm, contact Pinnacle. We source executive and managerial candidates for your temporary, temp-to-hire and direct-hire needs. We look forward to hearing from you.
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