The nonprofit sector, like most others, is chasing talent while trying to keep what they have, and finding effective leadership at nonprofits can sometimes be challenging. A creative and effective way to fill leadership roles within some organizations is to hire interim executives.
Here are some reasons why nonprofit organizations should be using interim executives.
1. Get help before things go wrong
The most obvious and probably the biggest reason why organizations bring in interim executives is to right the ship in dire situations. They have a need for people who will present something specific – a turnaround agent. Organizations looking for someone to turn around a specific area, such as fundraising, look for interim executives that have expertise in that area and can help create external and internal confidence.
2. Keep the mission moving during the hiring process
Executive searches can take an enormous amount of resources and an astounding amount of time. It’s important for solid leadership to be in place until a long-term solution has been identified. Hiring an interim executive can let the search go forward with less pressure and allow it to follow a more rigorous course.
3. Avoid politics
Nonprofits are not immune to politics. The politics of executives looking for long-term positions within organizations can get in the way of the search. Interim executives can come in and do their job without worrying about playing the political game with other stakeholders at the organization.
4. There is talent aplenty
According to industry experts, there are a wealth of seasoned nonprofit executives in the market right now. That abundance is primarily because of the recent economic recession that caused many organizations to downsize. This means there is a crop of executives that are willing to take temporary work.
5. Funding, Funding, Funding
A large reason an organization may bring in an interim executive is to raise cash. Often times interim executives are utilized to raise cash for many reasons, such as seeing an organization through a controversy or just raising funds to help stay afloat.
In order to compete and stay healthy, nonprofits need to consider as many options as possible when replacing executives due to succession or attrition. Creativity is allowed.