Shift in UK Growth Expectations Creates Silver Lining for Succession Planning and Interim Management
Nick Robeson
Connecting great companies with great leaders. Managing Partner, United Kingdom & Ireland.
Recent reports from the Confederation of British Industry (CBI) indicate that growth expectations among UK companies have taken a decisive turn for the worse. https://www.cbi.org.uk/media-centre/articles/private-sector-expects-activity-to-fall-in-the-next-three-months/
This shift, while challenging, presents unique opportunities for strategic leadership, particularly in the realms of succession planning and interim management.
Understanding the Current Landscape
For the first time this year, the majority of companies expect a decline in activity over the next three months. This downturn is reflected across all major sectors, including services, manufacturing, and retail. The CBI's growth indicator highlights that business volumes in the services sector are anticipated to decline, with more firms in business and professional services expecting a drop in activity.
A significant number of my conversations since the budget would suggest CEO's are looking very closely at their leadership teams ability to react, reshape and refocus. I would add that the level of fatigue in leadership teams is at an all time high and regrettably some will crack under the strain of the next 6 months.
Does this create the right time for Succession?
One could argue not to make significant changes at the top, keep the ship steady so to speak. However, if the capability exists in your business it could be exactly the right time to energise the organisation with a succession candidate. Harnessing that drive and energy can be the catalyst that engages a team for the challenges ahead and enables the organisation to drive out of a challenging economic period ahead of the curve.
Focusing on leadership development and succession planning is optimal at times like this because it ensures organisational resilience and continuity. Whilst Marketing and Training budgets for 2025 will be under severe scrutiny you should double down the development and investment in your senior leadership team. Strong, aligned leadership is essential for navigating challenges, making strategic decisions, and driving recovery.
Why Interim Management?
Interim management plays a crucial role during difficult economic periods by providing experienced leadership on a temporary basis. This expertise delivers an immediate injection of focused strategic resource across areas such as crisis management, cost reduction, and restructuring, enabling companies to navigate these challenges effectively. They bring an external perspective, implement rapid changes, and ensure business continuity without the long-term commitment of permanent hires. This flexibility helps organisations stabilise operations, maintain stakeholder confidence, and position themselves for recovery and growth.
What are your Options?
Conclusion
In the current economic climate, characterised by anticipated declines in activity across major sectors and heightened leadership fatigue, it is crucial for organisations to strategically evaluate their leadership capabilities. While maintaining stability at the top may seem prudent, leveraging succession planning and leadership development can invigorate the organisation, providing the necessary drive and energy to navigate challenges effectively.
Investing in strong, aligned leadership through executive search, leadership consulting, and succession planning ensures organisational resilience and continuity. Interim management offers a flexible, immediate solution to address critical needs without long-term commitments, helping companies stabilise and position themselves for future growth. By focusing on these strategic options, organisations can not only weather the economic downturn but also emerge stronger and more competitive.
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About Boyden
Boyden is the leading global senior talent advisor with 75 offices in 45 countries. Focused primarily on mid-market and social impact businesses, our international presence allows us to meet client needs wherever they operate. With nearly 80 years of experience connecting exceptional companies with outstanding leaders, we provide executive search, interim management, and leadership consulting services. Our ability to blend local, regional, and global expertise delivers confidence and agility to each individual client experience.
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