Do you charge a placement fee on top of the interim’s salary? If so, how much?
No, there is no placement fee. We will recommend potential interim candidates to you from our team and you chose whomever you feel is a good “fit” for your organization at this stage in the organization’s history.
What about a management fee on top of the price of the interim engagement during the contract tenure? If so, how much?
Interim Executive Solutions [IES] charges no management fee.
Are there any other fees we should be aware of?
There are no other fees.
What is the contracting process like? Does our organization sign a contract with your firm for the placement or with the individual IED?
Your organization will enter into an agreement with IES. We have two kinds of contract agreements: One is for interim executive director work. The other is for specific consulting and advisor services projects.
To begin the discussion, one of our partners will meet with your Board representatives (including with your current ED, if appropriate) to learn of your unique circumstances and needs. We then recommend one or more engagement leaders from our roster for you to interview. Once you select an engagement leader based on the match between their skill sets and your organization’s needs, we will develop a “scope of work”. The agreed upon “scope of work” becomes the addendum to our contract that is signed by your Board Chair and IES’s Managing Partner. At IES we work at the pleasure of your Board.
Once contracted, how do you ensure the assignment is meeting expectations?
Every IES client is assigned a Partner Liaison (at no cost to you) who will check in monthly with the engagement leader and with a representative of the Board to be sure that both the IED and the Board have the support they need. The Partner Liaison can access additional IES resources where needed and will provide an objective perspective so you can be confident that your organization is getting the best possible support.
How do you estimate your cost for the contracted engagement? What about benefits?
The value of your currently budgeted ED salary and benefits is the target for our contract pricing for an IED (interim executive director) role. Assuming the expected on-site hours are commensurate with this salary level, we use this as the assumed cost you are able to pay. We do not wish to adversely impact the expenses that your organization’s budget can currently sustain. It makes no sense to put pressure on an organization that is facing a transition in leadership. So, in most circumstances, your current ED salary plus benefits would translate into the cost of an agreement for interim services from IES.
The designated IES engagement leader for your organization is not an employee of your organization and will not be included in any benefits plan you have offered to your current executive director. However, your organization will be required to include IEDs on any current insurance policies for general liability, D&O and E&O liability.
Is the interim placed for a full-time role? If not, how many hours per week are expected?
“Normal” interim engagements average three days per week on-site, with the understanding that our engagement leaders are on call, available, full time for questions, emergencies, etc. However, it is premature for us to answer this question for your organization without understanding the specifics of your organization’s situation. We want to meet your needs so we are open to discussing the best method for covering your interim needs. We wish to be flexible and fulfill our pledge to offer the Board a positive leadership solution during your period of transition.
How long is a contract for, and what is the process by which it could be shortened or lengthened if the search for a permanent ED takes less or more time than expected?
There are no minimum or maximum time requirements in our agreement. We have found that once a search is designed and rolled out, the process can take up to six months or more. The national average for an IED engagement is just under 9 months. There is no fee for extending the agreement if requested, and no penalty for shortening the engagement. We have found that this no fee-no penalty approach will give the Board some peace of mind during the search process. The contract does include a notification clause of two weeks for each party prior to termination.
Can IES carry out the search for a new ED, as well as providing an Interim?
IES does not undertake search assignments, but we do have nonprofit search specialists with whom we partner, and we draw up job descriptions and character requirements in concert with the search committee, if so requested, as part of our interim engagement responsibility.
What if we need an expert (other than a search expert) during this engagement?
IES has a many highly qualified specialists covering issues like financial assessment, strategic planning, mentoring services, facilitation, dashboard development, etc. These are available to the engagement leader for short consultations. Longer engagements would require a separate or amended contract. We also have a broad network of capable professionals beyond our team and are happy to make recommendations with no fee to your organization. Our Partner Liaison will facilitate access to these resources as needed.