Archive for February, 2016

Industry Insights – The MB Interim Leaders Solution

Thursday, February 11th, 2016

 

The MB Interim Leaders Solution

By: Rod McDermott & Hayley Miller

Rod McDermott’s Bio

How often do you hear the warning, “always be prepared for the worst case scenario”? This cautionary phrase is much easier said than done, especially for businesses. Every company strives to assess their potential risks and determine solutions, however no company can prepare for every issue. Unexpected turbulence will inevitably occur, leaving stakeholders, shareholders, and board members ill prepared in finding a solution. Perhaps the most critical problem a business encounters is weak executive leadership during an unstable period. Many companies face a roadblock when they cannot afford to hire full time executives, yet they have a dire issue that needs to be solved, such as a merger, acquisition, divestiture, growth, integration, or turnaround. This is where interim executives play a critical role.

Interim executive leadership firms have gained recognition in the past decade, garnering support from businesses that have achieved success by placing an interim executive at their company. It is important to note that in the interim executive space, choosing the correct executive search firm is even more crucial, as companies require quick placement and exceptionally skilled executives in order to effectively solve their problem. MB Interim Leaders, a McDermott & Bull Executive Search Company, helps make that choice simple.

Founded in 2011, MB Interim Leaders (MBIL) discovered a need in the marketplace for clients who had an urgent requirement, however could not hire full time executives to solve the issue. MB Interim Leaders are proficient in efficiently run, well-managed companies that need to fill a gap in their business. The firm is also effective with turnarounds, having achieved success for numerous clients in a variety of industries. One recent case in particular accurately reflects MBIL’s proven methodology in hiring and placing interim leaders for turnaround projects and consistently achieving positive results.

Rebecca Miller, Director of Business Development, received a phone call from a client who faced operating challenges and was seeking a CEO to support and repair major issues at one of their facilities. Rebecca honed in on the key attributes the company was looking for in a CEO including specific industry experience and a track record of effectively restructuring and stabilizing businesses. With the aid of Angela Anderson, Director of Talent Acquisition, MB Interim Leaders found the ideal Interim CEO within one day of receiving the call.  After a mere ninety days, the CEO managed to solve their most critical problems and the client requested he transfer to another location to accomplish a supply chain and quality turnaround. Due to the quick response time and successful placement at the highest level, the client requested that MB Interim Leaders build out an entire team of operating executives including supply chain, production management, quality, and a number of other operating roles. Since placing the Interim CEO and operating executives, the client has achieved a substantial turnaround at their facilities.

What differentiates McDermott & Bull from other executive search firms and MBIL from other interim leadership firms? Why can they succeed where other firms cannot? The answer lies in McDermott & Bull’s unique model. Rather than splitting resources from McDermott & Bull’s Retained Executive Search business, Rod McDermott chose to create a separate entity entirely devoted to Interim Executive Leadership. In doing so, MBIL’s founders are able to remain heavily involved and active in daily client interactions and searches. Clients receive regular contact and feedback from MBIL’s highest executives, thus reassuring clients that their search is in qualified and experienced hands. Additionally, by focusing entirely on interim positions, it allows for a quick response with quality candidates in a normally niche market. The client’s needs are always first and no position is too difficult to fill.

Lastly, MBIL utilizes its other divisions of McDermott & Bull in order to best succeed. McDermott & Bull’s Executive Network currently has 7,000 members and 1,800 active members who regularly attend monthly McDermott & Bull networking events. These executives range from Senior Directors to CEOs who previously worked at Fortune 1000 companies. By consistently remaining in close contact with these C-Level Executives, it allows MBIL to easily match skilled executives with new client projects quickly. Through a hands-on approach from executive management, efficient recruitment, and networking capabilities MBIL achieves the results clients ideally seek, but didn’t know were achievable.

MB Interim Leaders has experience in a variety of functions and industries. Most notably, MBIL has placed leaders in private equity, venture capital, consumer goods/ products, manufacturing, consumer packaged goods, healthcare/ health services, food, beverage and restaurants, aviation and aerospace, and technology. MBIL is well versed in placing candidates in a variety of functions including executive leadership and strategy, finance/ accounting, operations, supply chain logistics, information technology, human resources, and sales and marketing. To learn more about what MB Interim Leaders has to offer, please visit www.mbinterim.com

Rebecca Miller Cyronek

Rebecca Miller, Director of Business Development

Rod McDermott

Rod McDermott, President & Chief Executive Officer

Angela Anderson

Angela Anderson, Director of Talent Acquisition

Industry Insights – New Year, New Role? Eight Items to Consider When Contemplating a Career Change

Thursday, February 11th, 2016

New Year, New Role? Eight Items to Consider When Contemplating a Career Change

By: Rod McDermott & Hayley Miller

Rod McDermott’s Bio

Now that we’ve entered into February, our New Year’s resolutions have begun to waver and our life and career goals have started to take a backseat to our day-to-day responsibilities. That’s why now is an important time to reflect on your career satisfaction. Whether or not you’re having concerns about your job, it is essential to reflect on your employment to ensure you are truly satisfied with your role. Below are eight items to consider when you are analyzing your level of job satisfaction and considering making a move.

  1. Contribution to the company

At the executive level, it’s even more important to assess your individual level of contribution to the company. Do you feel that you are making a significant impact in your role? If not, it’s key to focus on why. Are you making an active effort to consistently propose new concepts and ways for the company to improve? Are these concepts being heard and/or implemented? If they’re not, it may be time to consider if another company would be more receptive to your ideas.

  1. Compensation

According to the recent 2015 SHRM Job Satisfaction and Engagement Report, financial compensation has been one of the top contributors to job satisfaction since 2002 (SHRM, 2015). As an executive, it’s essential to know where you stand in relation to other executives in your field. How does your pay compensation relate in comparison to those around you? If you feel you are not being fairly compensated, approach your board members/ stakeholders with why you believe you should be granted a pay increase. If they’re not responsive, that’s a key indicator that your company may not be the best fit for you.

  1. Relationships with direct supervisor and reports

Work relationships, including your connection with your direct supervisor and reports, are a large contributing factor to job satisfaction. When analyzing your relationships with your reports, take a moment for self-reflection. If you’re not receiving the results you would like from your team, ask yourself (and more importantly, ask your reports!) what you can do to improve. Positive and respectful treatment in the workplace was the #1 important factor for job satisfaction for all employees in 2014. As an executive, not only do you need to both garner and show respect to your team, you also need respect from board members and stakeholders.  If you find yourself in a situation where you regularly feel that your opinions are disregarded, a conversation needs to be had.

  1. Job security

Another top contributing factor to job satisfaction is job security. As an executive, it’s important to feel confident in your position, as that gives one the confidence to make key decisions for the future of the company. Have you had the opportunity to speak with decision makers about the status of the company and its direction? Where does the company stand financially? Clear expectations can help you make the best decision as to whether you need to make a career change.

  1. Respect for thoughts and ideas

In a similar vein to having respectful relationships with your direct supervisors, it is critical that your stakeholders and board members respect your thoughts, suggestions, and ideas. As an executive, in order for you to succeed in making a positive and significant impact, the leaders of the company need to trust in your decision-making skills and allow you to put your thoughts into action. A lack of support from stakeholders and board members is a red flag that you will not be able to successfully achieve the job you were hired to do.

  1. Clear direction and goals from shareholders and board members

Have the board of directors and shareholders made the direction of the company and their goals clear? In your role, it’s your goal to ensure that management and employees know the specific direction of the company. Make sure you know exactly what path the company would like to take so you can clarify it to your employees and effectively execute the strategy.

  1. Job expectations

Oftentimes, the role you were hired for ends up not being the role you’re currently in or the position you originally sought. You were hired due to your specific and unique skillset and exemplary leadership ability. Are you utilizing your skills? Has the job description changed negatively from when you first joined the company? If you’re not utilizing the skills you had hoped and the company will not allow you to do so, finding a company and role that matches your expectations is worth considering.

  1. Benefits

Benefits have long been correlated with a high level of job satisfaction. While health benefits and a healthy work-life balance are very important for all employees, executives also have specific benefits that are key to career gratification. For C-Level executives, offerings such as a flexible schedule and professional/career development benefits are of particular importance. A company that doesn’t offer networking opportunities, a path for professional development, or the freedom to pursue individual professional interests will significantly decrease your level of satisfaction.

At the end of the day, the most important thing is having expectations match reality. Take time to focus on whether your job is truly the one you originally desired. It’s easy to become bogged-down with daily responsibilities, so much so that you forget what you originally sought. What do you want out of your job? What will bring you the most job satisfaction?