Interim Leaders Needed

Think about your retirement differently ... Interim and Fractional leadership in high demand!

"In its sixth annual High-End Independent Talent Report, Business Talent Group (BTG), a Heidrick & Struggles (Nasdaq: HSII) company and the leading talent marketplace for independent management consultants, interim executives, subject matter experts, and project managers, reported a strong rise in demand for interim leadership....The 2023 report registered a 116% increase year over year in the need for interim leadership at all levels throughout organizations, with the demand for such interim help in the C-suite rising by 78%. The most acute interim need was in the office of the Chief Financial Officer representing nearly half of all interim C-suite leadership requests. Additionally, requests for CEOs surged 220% year over year and climbed 100% for Chief Human Resources Officers and Chief Transformation Officers."

As Boomers continue to exit corporate America, they are leaving gaps in leadership positions.

Many companies are looking for interim leaders (leaders that work full-time for a set amount of time to fill a vacancy) and/or fractional leaders (leaders that work part-time in a pivotal role for a company typically because the company can't afford a full-time resource).

This offers Boomers, in particular, opportunities to "retire" but to stay in the game and continue to contribute to their company, their industry or their profession.

Why the increase in this need? It's not that the later generations aren't up to the task. For one, there are fewer people in following generations. Secondly, some companies aren't very good at developing and preparing their up-and-comers with the skills needed to take the reins in a timely fashion. Third, and this is a relatively NEW trend, many of those in later generations aren't necessarily interested in climbing the corporate ladder, much less being long-tenured corporate citizens. For them, the "side hustle" is turning into an entrepreneurial career path - one that is easy to accomplish with tech skills and quite attractive given its freedom from imposed structures and rules.

As a "freed corporate citizen" myself (a.k.a. laid off) who now owns her own business, I can say, in all honesty, that I wish I'd done my own thing long ago!

So, Boomers, if you want to retire, but continue to contribute using your skills and experience to help the next generations succeed, look for the opportunity to jump into an interim or fractional leadership position in the coming year(s). Just Google "Interim Leadership Positions" and you will see lots of companies who place leaders in these and fractional positions.

Give back - it's a win-win!