How might the Brexit vote affect hiring for permanent and interim management?
Plans surrounding Brexit seem to be quite up in the air at the moment, and the High Court’s decision to give Parliament a say on the decision to leave the EU has seemingly added another layer of complexity and potential confusion to the process. Whether or not the Prime Minister can stick to her deadline for initiating Article 50, the impending exit of the UK from the European Union is already affecting a wide range of businesses, forcing them to implement significant changes to deal with the changing landscape. Because the full consequences of just what the Brexit vote might mean for organisations and the public alike is still very unclear, it is understandable that many businesses are reluctant to commit to hiring permanent staff, making Interim Management a more viable option.
However, this does not mean that permanent changes are out of the question, and in many cases companies will be happy to implement like-for-like permanent changes. Despite this, because of the volatility of just how Brexit might turn out, Interim Management looks to be a feasible and perhaps preferable choice, offering flexibility and versatility in a time of great economic and social uncertainty.
Going in new directions
The Brexit vote is going to force many organisations into making changes, not only in personnel but also in terms of direction. For example, companies who have relied upon strong European co-operation may find an increasing need to widen their net and bring in more global partners as non-EU participation could lead to greater difficulty co-operating with EU partners.
In such a scenario, bringing in an outside specialist with proven experience in the field is undoubtedly going to reap rewards. Permanent or interim employment are both viable options here - you may have belief in your new direction, or you may want to hedge your bets and see how things go with an interim change before committing long-term.
Quick response and solution
The result of the Brexit vote was sudden, and so has been the response by many organisations. Getting left behind by your competitors could be a disaster for your long term prospects, so it is crucial to adapt to your environment and enact swift changes.
This is one of the main advantages of Interim Management. With an interim manager coming straight into your company, changes can be made quickly to respond to the challenges you face. Time really is of the essence when it comes to preparing for life outside the EU, so an interim manager coming in and hitting the ground running can be crucial.
Understanding the implications of the Brexit vote is a specialist subject, as is putting into action solutions to adequately meet the new challenges this vote poses for companies. However, even the greatest experts and forecasters on the subject will find it difficult to put a definitive timeline on the process or just how much work and change will be needed for your company to adapt.
With Interim Management, you are able to benefit from the expertise of an interim manager without necessarily having to commit to a specific time-frame. If the new role only ends up requiring around 6 months of work, or if it needs a lot more than this, the flexibility provided by Interim Management allows you to get what you need.
To find out more about how we can help you source the best interim talent for your team, please contact Matthew Gibbs, Managing Consultant.