Interim Executive Engages Staff and Fills Critical Leadership Gap at Alterna

20 Nov 2013

Interim Executive Engages Staff and Fills Critical Leadership Gap at Alterna

When Alterna Savings lost their Senior Vice President of retail banking after only five months on the job, they were caught off guard. They knew it would take time to find a replacement and, given the recent turnover on their leadership team, they didn’t want the position to sit empty for too long. In addition, their current executive team was at capacity. That’s when they turned to Odgers Interim for a solution.

“We knew we needed to find a senior executive who could get up to speed and engage staff very quickly,” says Josette Gauthier, Senior Vice President of Human Resources for Alterna Savings and Alterna Bank. “Odgers came up with a selection of candidates who were all fantastic and, within two weeks, our new Interim SVP was in place. That’s unheard of.”

Expect an immediate impact

For many organizations like Alterna, a sudden departure leaves a gaping hole in their senior management team – a hole they don’t feel they can wait six months to fill while recruiting a replacement. Bringing in an interim executive buys time and ensures that the organization continues to run smoothly. And the payback is usually immediate.

“Nick is so experienced, he was able to assess what was going on in the business very quickly,” says Josette of Nick DiRenzo, Alterna’s Interim SVP of Retail Banking. “He also engaged staff easily and built their confidence after the change in the leadership of the firm. His contribution was noticeable within the first month. I have Odgers to thank for this. They were very astute at understanding the needs of our culture and what kind of executive would be successful here. Nick was a great find.”

Focus on fit

For Nick, being able to draw on his past experiences has been a huge asset. “To be successful in an interim role you need to gain acceptance from the people you are working with as quickly as you can,” says Nick. “You also need to know the business. This gives you instant credibility and helps you establish some quick wins. The team was hungry for leadership so that was exciting for me.”

Nick credits Odgers Interim with being a great matchmaker. “Given both Alterna and I had to make a quick decision, it was up to Odgers to create the right fit,” says Nick. “I was able to connect with the entire Board of Directors before I joined the company and that really confirmed that this was right for me.” Alterna’s head of HR agrees. “Odgers really listened to us and this ensured a seamless process,” says Josette. “Nick has brought a fresh perspective to our business and he is helping us to see exactly what we need for our future.”