News & Insights
Leadership On Demand
18th November 2024
The scenario: A small business seeking to reach the next growth stage requires guidance and support from someone who has navigated similar challenges.
The management team recognises the need for an expert quickly, as this challenge wastes resources and hinders progress.
However, a search through LinkedIn and across their personal networks reveals people in senior executive positions or who work at consulting firms.
This expertise isn’t right for them because they don’t need someone five days a week; the organisation isn’t structured for a “big hitter,” and there isn’t a huge budget to play with.
The solution: TMM Executive’s Leadership On Demand.
What is Leadership On Demand?
Leadership On Demand is our cost-effective executive management service, a win-win for SME businesses.
We connect you with C-suite leaders who are at a point in their careers where they want to work more flexibly and build a portfolio of interesting assignments.
These professionals have decades of knowledge, wisdom, and know-how, and their experience can make a lasting impact, improve performance, enhance profitability, and solve operational issues.
Their level of expertise means they require less of your management time to get up to speed and start addressing the challenges that limit growth and profitability.
To suit a wide range of business needs, our executives can be engaged on a fractional or interim basis, providing organisations with specialist longer-term support or an expert who can fill a short to medium-term resource gap.
Which Option Is Right For You?
Understanding the different benefits between a fractional executive and an interim executive will help you make the right choice for your business:
A TMM Fractional Executive:
- Part-time, permanent member of your team.
- Provides leadership, strategic guidance, and operational support within a specific executive remit.
- Typically, the employee works for an agreed number of hours each month, but the level of engagement can be ramped up during critical periods and scaled down during more stable times.
- They can work for multiple organisations at once, depending on their capacity and personal preferences.
For instance, a fractional CMO could sit on your board, devise a strategic marketing plan, engage third-party service providers, and mentor other members of staff, or a fractional CFO could provide financial expertise to your board, introduce potential investors, lead due diligence, or implement strategies to mitigate financial risks.
A TMM Interim Executive:
- Provides full-time, temporary expertise on a fixed-term or rolling contract.
- Provides leadership, strategic guidance, and operational support within a specific executive remit.
- Will use their expertise to bridge an internal skills or leadership gap, for instance, to lead a specific project or to act in an interim capacity until a full-time permanent candidate is hired.
- Typically works with one company for several months.
An interim IT executive could lead the project for new software integration, or an interim procurement specialist could focus on supplier selection and identifying opportunities for cost reduction across the supply chain.
The primary difference between the roles is how the executive’s time is spent. An interim executive will take on a relatively short-term position. In contrast, a fractional executive will split their time between multiple businesses, working a set number of hours for each one during the week or month.
Following a consultative conversation, we identify which of our executive leaders has the skill set that best suits your requirements, and then we facilitate an introduction.
You stay in control, with the final hiring decision agreed between you and the executive. Bear in mind that your administrative burden is minimal, and if you require support, we can also manage the executive’s payroll.
Contact Amanda McCulloch for a discovery conversation: T01224 327 016.
