Matching demand exactly and at the right time is key.
It will be difficult, and in many cases impossible, for companies to solve for the required transformation and change management skills needed internally. Requirement also shift quickly – when transformation and change are implemented different leadership skills will be required to anchor and operate the new solutions. Many companies stand before future transformations, hence right and timely available skills combined with execution power and full authority and mandate will define success. Strong leadership skills combined with change- and stakeholder management experience and relevant industry and functional skills is scarce and Executive Interim Professionals fill this gap. Demand exist throughout the execution phase and are therefore limited in time. Matching the demand exactly and at the right time is key, and results will be defined by leadership authority and mandate, which often disqualifies consultant based solutions. In addition, the change needs to be executed in and by the organization, to obtain sustainable results, hence optimizing results will require strengthening leadership skills with full mandate. To pen his latest book, The Interim Revolution, Pat Lynes, a business transformation consultant, interviewed over 100 corporate executives from several different industries. Major trends such as crowdsourcing, the gig economy and ‘SWAT teams’ are set to transform the way businesses globally procure external advisory. Lynes further predicts that the future of management consulting will move towards a gig economy and the use of interim teams with businesses harnessing potential of executives as pre-gelled business ‘SWAT’ teams which can be parachuted into businesses to solve problems at speed, before disbanding as quickly as they arrived. He argues that interim teams offer far better value for money; project-focused results-driven work; flexibility and the ability to react at speed, all whilst being able to inject expertise and capability around a variety of disciplines into businesses instantly. “Ultimately, interim work is not just an emerging trend. It’s the new normal, the new way of working. So, the sooner organisations embrace this way of working (as an enabler, rather than a cost), the more empowered they will be in the future, as the competition for high quality tech and strategic executive talent becomes even fiercer.”5
Today the largest freelance intermediaries close recruiting demands faster than ever before and these companies already work with millions of customer and millions of freelancers. Upwork reports freelancers and Interim Professionals will constitute the majority of the US workforce by 2027. Upwork also conclude 63% of Freelancers and Executive Interim Professionals agree having a diversified portfolio of multiple clients is more secure than having one employer, and of those who left a traditional job to freelance, nearly 2 in 3 say they now make more money than before.6 McKinsey Global Institute estimates independent workers make up 20-30% of the US and EU-15 working age population today, equaling 162 million people.7 Demand will increase fast also in Sweden and Nordics, and Interim Professionals is key to solve for the skills shortage. This shift could have real economic benefits by raising labor force participation, stimulating consumption, providing opportunities for individuals, and boosting productivity.