Crisis management is an integral part of the skills of interim managers.
Today, many companies rely on interim management firms in times of crisis. But what types of crises are we talking about?
The most frequent crises
Regularly, the same types of crises affect businesses:
Crises Management by Interim Management
The crises periods are double-edged.
A crisis can be beneficial for the company if it is under control. It must very quickly be cleverly controlled. It then converts from “crisis” to “change.”
Interim managers sometimes have to become crisis managers. A company in crisis must be able to count on adequate management, able to overcome complicated times while keeping the objective in sight: restore the situation to normal, or improve it by the end of the crisis.
Interim management uses the skills and knowledge needed to balance a society in crisis. For example, interim managers will be able to prioritize certain areas of the company over others. For example, in case of a media scandal, marketing staff and management must be proactive, and probably put the production on temporary standby.
To be a good crisis manager, it is imperative to have some essential qualities. Otherwise, the risk of failure dramatically increases. A crisis is already a daunting moment for a company. Human mismanagement of it could be fatal.
The interim managers are positioning themselves as leaders, they take the yoke with both hands when the plane starts nosing down. Their human qualities are not neglected: they have a sharp sense of listening. Listening is an essential basis of communication. Good communication is at least 50% of the success to stop a crisis. They are also persistent, able to make difficult but necessary decisions with good judgment, thanks to their experience.
But what happens to a company after a crisis? Check out our second article on crisis management!