The departure of a leader, whether unexpected or planned, is never easy. In such time, an interim leader can step in to save the day, providing organisations with a range of skills and experiences to keep them on course until a permanent successor is in place.
Now, demand for interim leadership is on the rise as businesses seek to fill gaps in their executive ranks and accelerate transformation. According to executive search firm, The Talent Business, interim hires in the C-suite have increased by 78% since 2022. Calls for interim CEOs surged 220% year-on-year and climbed 100% for CHROs and chief transformation officers. Most wanted were CFOs, which represented nearly half of all interim C-suite leadership requests.
The long-held perception that an interim leader is there simply to keep the seat warm is shifting, and they are increasingly being brought in to drive strategic change, provide fresh perspectives and implement new strategies. Others would argue, however, that their temporary nature can cause more harm than good. Integrating an interim leader quickly into the corporate culture can be difficult, and the lack of continuity can pose challenges if initiatives require long-term follow-through.