A contract executive, also known as an interim executive, offers companies a cost effective and temporary way to hire a specific skill set to handle company changes, growth or closure. This is beneficial for large companies who have a temporary high-level need. It’s also beneficial to small business owners who aren’t ready to hire a full-time position, but who need help with scaling their business. At the end of this article, we have a checklist that will help you determine if our services are right for you.
What is a contract executive?
A contract executive is someone who takes on a temporary role in order to help a company with a specific need. They are often employed when a company has a temporary demand, and they want to hire someone with a specific skillset.
Not only do contract or interim executives have experience in business operations, but also finance, HR and many other areas of expertise. They bring detail-oriented and result-focused know-how to your team without pushing out valuable and existing staff. They can even help train current employees so there is coverage when the contract executive’s term has ended.
Contract executive for large companies and corporations
Contract executives can be employed by large companies who are acquiring smaller companies, or merging with other companies, when they want to keep their employees safe from layoffs. Interim executives are usually experts in contract law and negotiations. As an independent contractor for larger companies, they can help plan and execute the transition from one company to another, as well as acquisition and merger contracts on the other side of the transaction. When there is a high skill need to fill, and especially if it is for a specific length of time, hiring a contract executive is the way to go.
Contract executive for small businesses
Contract executives are a great option for small businesses. They can provide the help and guidance that these companies need to make sure that they are on the right track. For small businesses, contract executives can provide the help they need to make a smooth transition. They can work with the company to get them on their feet after a setback or help them grow and scale faster.
Small businesses are best served by contract executives because it is a great way to make use of years of experience and knowledge without having to offer a full salary and benefit package. When budget is a concern, but expertise is required, a contract executive is your solution.
Do I need a contract executive?
Contract executives can be an excellent resource for any company, regardless of size or industry. They have the experience and knowledge to get your company through any transition or acquisition, whether it is small or large. They can help you plan for the future and make sure that you are not missing any opportunities.
Use the following checklist to find out if it’s time to call us today.
__ Your company or business is about to merge with another company.
__ You are entering an uncertain time for your business and need help navigating the waters.
__ Your company has a need but cannot or doesn’t want to create a new position with a full salary and benefit package.
__ The employees you have are wonderful and you don’t want to lose them, but you know you need organizational help and expertise to begin scaling.
__ The amount of time it takes you to manage, track and plan your company accounts and data keeps you from doing the parts of your business you actually like.