When operating a corporation, you want everything to run smoothly, with no hiccups along the way. But, reality is that times can be tough. One of those challenging times is when a company loses their CEO. This may be a planned departure or could occur due to unexpected circumstances. It is during those times that you must have a plan in place, in order to keep your business on level ground.
Fortunately, you can call on an interim CEO who is trained and ready to assist you at your time of need, without your company missing a beat. There are two options when choosing the appropriate person for this job. You can either promote an existing employee or temporarily hire someone from the outside.
Promoting an Existing Employee You may be able to advance an employee from within the company to temporarily take over the position of CEO. Keep in mind however, that your current employees, no matter their position, are typically trained to handle specific tasks within an individual department. Therefore, they may not have the complete knowledge base and experience required to successfully take on the role of a CEO. It is best to choose this option only when the company is completely stable and there are no foreseen challenges pending in the near future.
Utilizing an Outside Interim CEO Whether your company is experiencing challenges or experiencing substantial growth, it is best to utilize an interim CEO from an outside source. The people who take on these positions are specifically trained on how to handle the many vital aspects of a corporation. They are experienced and motivated leaders who are ready to take on the full responsibility of being a CEO.
By utilizing an outside CEO you can rest assured knowing that their complete focus will be on providing your company with the stability it needs. They will work quickly to gain a full understanding of your business and will assist the organization to meet goals and deadlines. Additionally, a successful interim CEO will not only take on the role, but they will also look for ways for the business to excel. By doing so, instead of your business simply staying on level ground while looking for a permanent replacement, it may also experience considerable growth.
Now that you know all of the benefits of utilizing an outside interim CEO, is there anything that is still holding you back?