The Interim market, Brexit and beyond…

Time to reflect on 2018 and look forward to the year ahead. We are faced with an even more uncertain world with the continuing twists and turns on the political front, the now bumpy economic climate and the demise of a number of large businesses.   We are used to dealing with change and challenges; from economics to politics and clients to candidates but this is uncharted territory.

The fiasco that is Brexit with its various connotations of remainers / remoaners, hard exit / soft exit, good deal / bad deal, etc. has divided the country.  When you consider the complexities that include Trade, Customs Union, Legislation, Northern Ireland, Security, Education, Science, Energy, Farming, Environment, Healthcare, Transport and so on, it’s no surprise there are divided opinions.  With no one knowing how this will play out and what the ramifications are likely to be, it makes planning extremely difficult especially when the view of stakeholders is likely to be split.

In 2018 there have been casualties, not all Brexit related but a reflection of a tough climate.  The liquidation of construction giant Carillion early in 2018 with the accolade of becoming the UK's biggest corporate failure in a decade has put the construction sector under further strain.  Interserve is hanging on by its fingernails having once been a £3.3B revenue business now worth c£15m.  The high street is on its knees with a number of high profile collapses such as Maplin, Toys R Us, Poundworld and House of Fraser to name a few and many others struggling. Some of these businesses are being bought either wholly or in part from the Administrators which in turn is creating opportunities. Some businesses are embracing this through expansion of facilities and looking for bargain acquisitions.  Mike Ashley’s Sports Direct business is now a multi-billion £ business and I don’t think this has been achieved from being averse to risk.  It’s about seizing the moment but also ensuring that when these opportunities do come along you are in a position to act.  

The rhetoric is a similar scenario of the last recession with worries of another but somehow this feels different.  Brexit is fueling uncertainty and indecision.   How do you plan if you don’t know what you’re planning for?   Managing short-term requirements with longer term business objectives is proving very difficult as you can’t plan for the medium to long term with all these major changes afoot.

This is the very climate that fuels demand for Interim Executives.  Organisations that don’t want to commit long term with a permanent appointment find a short term solution is often the answer.   Many organisations need help with supplier management / rationalisation, customer service, cost control, planning, risk management and talent.

The interim market has additional complexities but paradoxically there are many opportunities.  Changes in IR35 legislation continues to ‘frustrate’ the market and having been already implemented to some degree in the public sector, I’m not so sure how things will transpire should the same happen in the private sector.  Public sector interims have been able to change tack and move to the private sector but if it hits the private sector, it leaves nowhere else to go. 

I believe many organisations are taking a holistic approach to talent acquisition. In the short term, they require immediately available Interims to deliver short term objectives whilst focusing on a longer-term approach by taking a deep dive into business imperatives to create a total strategic plan that has clearly defined goals, but one that can be amended as needs change.  Executing strategic objectives now requires an agile, responsive and flexible approach to meet the changing tide and businesses don’t necessarily have the internal capability or capacity to deliver hence the external help. 

Interim Executives provide a service to organisations in all stages of their development and plans.  It seems to me that now more than ever is the time for ensuring the mechanism remains in place for this to continue. This help is crucial to ensure survival and at other times growth.  It is usually driven by the need for change, transformation, restructuring, turnaround, projects etc. requiring a professional to implement and deliver.   

Organisations should continually be looking to improve and be more efficient.   Ways of growing either organically or through acquisition, improving efficiencies, improving customer services, acting on opportunities and kick-starting change projects could all be helped along through the utilisation of Interims. 

It’s interesting times and is making politics and business quite fascinating.  There’s a lesson here in resilience, persistence and integrity.   Businesses can learn from Theresa May’s approach which should be a lesson to us all regardless of your political affiliation.  Sometime you have to dig deep, be resilient and stick to what you believe. 

With an Interim population consisting of some very experienced, high calibre individuals, there is now more choice than ever with an increasingly diverse and committed professional possessing the tool kit to drive organisations forward.  Now is the very time we all need to dig deep, push the button and take steps forward or run the risk of standing still or even worse, going backwards.  

Steven Wynne

Managing Director

Macallam Interim

TEL: 01423 900804

E: Steven.wynne@macallaminterim.com

W: www.macallaminterim.com   

 

 

 

Does the engagement of an interim manager ensure project success?

Bringing in additional project management resources can not only save a failing project but also help define what constitutes project success at an early stage



Projects fail all the time. What constitutes a project’s success and how it is defined will differ from organisation to organisation.

The standard expectation for a successful project is that it’s delivered on time, on budget and is of the right quality. This is often the case if the project has been competently managed and led.

It is, however, much more important that the business case and the benefits are made clear at the beginning of a project and readjusted along the journey, because this is the real measure of a project’s success.

Projects fail because the latter point hasn’t been realistically set out, the requirement has changed due to market or economic forces, or there has been a lack of communication at all levels.

If a project’s success is determined by its delivery in line with expectations, then the person who has set the guidelines will have a determining factor as to the success or failure of the project. This is usually the project sponsor, the person who “owns” it.

Project governance is the key to success, and business managers should be involved along the way to ensure the project is delivered in line with expectations.

A more fruitful solution is sometimes to resource externally to lead the project from the outset Formal project governance is the big change we have seen over the past few years, and this was a response to the lack of ownership and control by the very people who require and fund the outcome of projects – the business managers.

A project running behind budget and time would usually be seen as a failure, but in fact a project’s success is determined by the benefit it delivers to the business, and if that means the cost and completion date have to be moved with the agreement of the stakeholders, then so be it.

Interim managers are often bought in to rescue “failing” projects. This can make perfect sense, because having a fresh set of eyes on the situation and making the necessary changes to drive the project forward can get the project team and its sponsors realigned.

There are real benefits to doing this, not least because once the project is underway and costs have been incurred, it can be difficult for the project team to pull it back on track. An interim manager can ensure that stakeholders become realigned to the outcomes and that people are ready for the change the project was intended to deliver.

Finding and retaining the right resource is challenging but critical. Once the right skill set has been defined, engaging externally can sometimes be the only option.
A more fruitful solution is sometimes to resource externally to lead the project from the outset, with someone whose only focus is to enable change and who won't be drawn in to business as usual.

One of the key ingredients is to spot the warning signs and act immediately Planning is paramount to the success of a project, and it is important to define what constitutes success at the early stage of the process. It is often the case that the project manager will be held to account if the project is deemed to be a failure, but actually the project sponsor is the person truly responsible for the project’s success. If the expectations have not been realistic, if communication has been poor, if the original business need has changed, and if adequate training has not been provided, then this all points to the project sponsor.

Taking this back to grassroots, there could be a cultural problem if the business is not one that is used to embracing change: the people won’t have the motivation to make it work and hence it’s another pointer towards project failure.

The adoption of a strong, centralised project management office (PMO) allows for the transfer of knowledge and sharing. Knowledge-sharing and best practice will help ensure the future success of projects.

If this is led with a good PMO director and appropriate, experienced project managers, not just certified project managers (as this only shows they understand a method), then at least the risk of failure is minimised. Again, interim managers can be engaged to set this up.

Ensuring project success is not easy. If it was, there would be far fewer failed projects. There are, however, good practices to adopt in order to minimise the risk of failure. If the proper planning, communication and governance is adhered to, stakeholders’ expectations are properly managed and the right business requirements have been set, then you stand a fighting chance.

After all, nobody sets out to fail or to do a poor job, but one of the key ingredients is to spot the warning signs and act immediately. If that means bringing in an additional resource, then it could be money well spent.

For a confidential discussion about how Macallam Interim & Executive Search can help rescue your project, call 01423 704153, email steven.wynne@macallaminterim.com or visit www.macallaminterim.com >>

Please follow the link to view the article featured in the Telegraph
http://www.telegraph.co.uk/sponsored/business/business-reporter/11570241/find-project-managers.html