Interim executives association could see old heads shoulder new technologies

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AN AUSTRALIAN association formed to assist interim executives could provide an unanticipated boost for firms battling so-called digital disruption.

While Australia looks to new businesses and young tech. start-ups to create new business segments and new jobs, it may be the old hands – interim executives who are not only highly skilled but also highly experienced and ‘connected’ – that prove the key to success for many of these ventures. 

Founder and managing director of the Australian Interim Executive Association, Mal Walker, said interim executives – also often called ‘interim managers’ – were again in demand as they have been in other times of business and economic crisis. Ironically, many of Australia’s most skilled managers were in the interim market as a result of taking early retirement and redundancy packages.

Mr Walker said a similar situation in 1995 saw the initial formation of interim executives in Australia.

“At that time, many financial institutions, government entities and SMEs made too many people redundant too quickly, and had to call for experienced executives to help them out on a short or medium-term basis to see them through a period of profound challenge and change,” Mr Walker said.

“It happened again with the Global Financial Crisis. Is it happening again?”

Mr Walker’s experience, and that of the association which formed last year, would suggest it is again a challenging period in which interim executives come into their own – this time taking on the more seminal disruption wrought by digital technologies.

AIEA is part of that revolution, with its new match-making service that gives businesses direct access to a database of senior professionals.

AIEA has created a website tool, the Find-IE search engine, which reduces recruitment costs, lessening the financial impact of hiring on companies’ bottom lines.

AIEA founder and managing director, Mal Walker, said companies could save tens of thousands of dollars each year by using the AIEA’s Find-IE search engine to outsource senior executives.

“Times are tough for businesses and companies need experienced people but can’t afford to have them on their payroll,” Mr Walker said.

“There’s a rapidly growing sub-sector of senior professionals who are available to work on a short or long-term basis, called interim executives.

“The AIEA puts businesses in direct contact with these experienced senior executives.”

Mr Walker said there has been wide spread interest in the service since the association’s website was launched this week.

“Traditionally, businesses looking for senior professionals had to go through recruitment agencies which could take months and be very costly, particularly for short term roles,” he said.

“The AIEA now allows internal and external recruiters to go online and search for professionals that meet their current needs for free.

“If they like the look of one of the profiles they can then purchase the person’s resume and their contact details will be immediately available.”

Owner of Gjenesys Pty Ltd, Peter Gjersoe, has been an interim executive for seven years and said there was a need for an association like the AIEA in Australia.

“It’s a win-win for everyone and I haven’t come across anything like it in Australia,” Mr Gjersoe said.

“It’s a different way of doing things and provides interim managers with a new avenue to do business and seek new opportunities.

“We are often on our own as we move from one job to another, so it’s important to be a part of wider group where we can network and be represented by a professional organisation.” 

Mr Walker said the association’s Find-IE search engine is only one of the services available to members.

“Members will be formally recognised by the association and receive discounts for personal development courses and networking events, and will be given a unique email address and personal webpage,” Mr Walker said.

“It really is a one-stop-shop for senior executives and businesses.”

Obviously, interim executives are not a long-term fix, Mr Walker said.

“They meet a short-term need – which may be a fast moving acquisition or merger. It may be to cover an unexpected departure of a key person. A company may need additional experience to cope with an unplanned expansion, or a relocation. It could also be a start-up or closure.”

Mr Walker said interim executives would adopt a strategic approach in a senior management role, operating with executive authority.

“It's not always essential to have experience of that sector,” he said. “In many roles like finance, they can act across sectors. What is important is to have experience of the change process.

www.aiea.com.au

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