Venture Capitalists and Business Angels have a continuing need for highly experienced and flexible senior executives who can step into one of their portfolio companies and provide the hands-on management needed, for as long as it is needed.
A particular breed of executive fills this role, the Interim Executive. They go by many names – Locum Executive, Freelance Executive, Consulting Manager, Change Manager, Gap Manager, Interim Manager, Interim CEO, Contract Executive, Temp-Exec, even Honcho-for-Hire.
Whatever the label, they have particular aspects in common:
- They are highly experienced, well-educated mature business people and can point to a track record of success.
- Generally, they are in the Baby Boomer generation. It’s not solely a function of age but it does take a while to amass that depth of skills and experience.
- They have reached a stage in their career where they are attracted to a portfolio career, as opposed to a more traditional corporate career within the one organisation.
- They will accept roles of varying structure. This may be three days a week or a full-time role for a defined period. This ‘contract’ period usually ranges from three months to two years.
GreyHair Alchemy has access to the legion of AIEA members covering all executive and managerial roles. They are not retirees looking for pocket money but dedicated, energetic executives. The age range of the members we have placed is:
Under 40 11%
40 to 50 21%
50 to 60 46%
Over 60 22%
GreyHair is similar to a recruitment agency in many ways, but the differences can be startling:
- A recruitment agency deals with the placement of personnel in an organisation – so does GreyHair.
- A recruitment agency can offer extensive (and expensive) additional services such as skills testing, psychometric appraisals and the like – GreyHair does not; sticking to the core business of introducing executives to organisations that need them. Quickly.
- A recruitment agency deals with all levels of personnel – GreyHair focuses on the executive and managerial levels to provide contract, temporary and permanent placements.
- A recruitment agency goes to the marketplace and searches for someone to fit a company’s requirements – GreyHair already has the people within the ranks of the AIEA members.
- A recruitment agency can take weeks or months to find the right person, particularly for higher level positions – GreyHair usually has a shortlist ready for presentation within three days.
- A recruitment agency charges a percentage of the total salary and benefits package and often additional costs for advertising, etc. – GreyHair charges a fixed fee with absolutely no additional costs. The GreyHair fee is usually between a half and a sixth of the agency fee for a comparable executive search.
GreyHair’s core business is placing appropriately qualified experts in Interim, FIFO or Contract positions. However, about 40% of the placements are (or end up as) permanent positions. GreyHair does not charge an extra fee for these placements. More information at: