Interim Management must be a key component of any thinking about how to approach business transition.
As 2024 approaches rapidly, much remains uncertain, both domestically and globally. However, the Services sector cannot stand still. At Valtus we see three key drivers of business transition which continue to dominate the year-end thinking of Boards and ExCo teams.
Ensuring end to end systems and processes are designed to enhance customer and employee experience is a major strategic aim. Developing employee skills and mindsets to align to digital operating models remains a key challenge; top talent continues to be scarce.
People make the difference.
UK inflation may be easing and those lending money may have realised short term benefits from higher interest rates in 2023, but many businesses are still adjusting to the impact of an economy where capital is more expensive and in shorter supply and salary expectations continue to rise. Managing expense and deciding where and how to invest limited budgets remains a critical challenge as we enter the New Year.
3. Managing risk
The threat landscape has continued to evolve in 2023 with geo-politics taking centre stage. Cyber threats and financial crime are increasingly intertwined in the digital world. As complexity increases, so does the regulatory burden. Operational resilience and ESG remain key risk topics as well as more specific issues such as consumer duty and credit risk which financial services firms must consider.
Interim Management has an important role to play.
Ultimately, people make the difference within an organisation, especially in the Services sector.
Having access to top talent is critical when facing into major strategic and tactical challenges. The talent an organisation employs permanently to run ‘business as usual’ may not have the skills or capacity to meet additional transition goals.
Interim Management has an important role to play and should be a component of all Board and ExCo thinking about solving transition issues.
Valtus has access to top Interim Management talent and employs a unique methodology that reduces the risk of failure.
At Valtus, not only do we have access to top Interim Management talent which can be deployed rapidly, but our unique methodology ensures assignment outcomes are clearly defined and governed. This approach increases value and reduces the risk of failure for Boards and ExCo leaders confronting transition challenges as they plan for 2024.
Look out for further blog posts which will explore in greater detail the positive impact Interim Management can have.
In the meantime, please don’t hesitate to reach out to me directly if you would like to discuss the transition challenges you are contemplating right now.