Frequently Asked Questions
What is an on-demand or interim executive?
It’s a person with extensive experience within a specific industry or discipline working with companies on a fixed-term basis. These executives are not between jobs … this is their career of choice.
How does an on-demand executive differ from a consultant?
Consultants typically analyze and make recommendations. Interim executives take this further by implementing those recommendations, owning the delivery of the promised results, analyzing the outcome, and making additional recommendations and adjustments.
How does an on-demand executive differ from a full-time employee?
On-demand executives provide the results you might see from a high-performing employee, but with limited financial and contractual exposure. These executives are hired at an agreed-upon rate and do not require medical benefits, 401(k), vacation pay, bonuses, stock options or other similar burdens.
How much does an interim executive cost?
The cost depends upon multiple variables. Interim executives typically charge based upon an hourly or daily rate, however the mechanism is flexible. The cost of a specific project will vary based upon the experience of the executive needed, the work required and the duration of the engagement. When considering hiring an interim executive, it is important to remember that these are highly experienced senior executives who require a market-competitive wage. The rate charged is all-inclusive, with the exception of expenses.
How long does an interim assignment normally last?
Interim executive roles come in all durations, from a few weeks to 12-plus months. These are on-demand executives, so the engagements last as long as the need exists.
What size companies hire interim executives?
Interim and fractional executives are used by a broad range of companies, both from a size and industry perspective. Companies from start-up phase to multi-billion Fortune 50 companies need additional executive presence from time to time. Hiring experienced, proven on-demand talent is a low-risk way to jumpstart mission-critical initiatives or solve complex challenges.
What if we do not need an interim executive full time, but we need help?
Fractional executives, which is the common term for using an executive on a “part-time” basis, is very common and a big part of what we do. Provident Global Advisors exists to help you build a great business. Our services are 100 percent scalable, from eight to 80 hours per week. We do what needs to be done to support your business.
What if I know that I need help, but don’t really know where to start or what type of executive I need?
Provident Global Advisors uses a proprietary assessment approach with clients to help determine the root cause a problem. We often begin with this assessment, which provides us the ability to make an informed recommendation on what is needed and where to start.
Do you fill interim roles below C-level?
Typically, the answer is no, we do not fill roles below C-level based upon the profile of our executives. If you have an exceptionally complex problem that needs the attention of an experienced, focused executive, then we probably can help.
Do your executives specialize in a particular industry segment?
Our executives are structured along functional lines as opposed to industry verticals. We find that most companies need a strong sales leader–or a COO or CFO–more than they need 25 years of experience in a specific industry. We value industry knowledge, but each one of our interim executives has experience across multiple industries. We believe this unique experience gives them a broader view of the overall business landscape, which will enable them to assist your business more effectively.
We are eager to connect with you to answer all of your difficult questions. Please let us know how we can help.