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Key benefits of an interim manager



Key benefits of an interim manager

By Mike Fisher, Director at Adastrum Consulting, executive search, interim management and leadership advisory organisation.

In the current unpredictable global marketplace, businesses are facing the need to transform at an unprecedented rate. With emerging technology and agile competitors shifting traditional models, it is important for organisations to embrace change and embark on a more forward-thinking approach to business transformation.

Many organisations can hit stumbling blocks when it comes to change and it can seem a daunting challenge to more traditional companies, though in this day and age, all businesses of all shapes and sizes must be able to rapidly respond to change and disruption in the market. However, the larger the company the harder the transition often is. This is because there are more routes and opportunities to explore. With larger teams and more departments, creating a strategy which best suits the business can seem overwhelming and many businesses can get lost in the ever-growing array of opportunities and challenges.

An interim manager is a temporary role that is sourced to achieve flexible outcomes and solutions to manage a period of change, for instance a change in business models or to fill an internal position till full time employment is established. They are equipped with a high level of expertise and offer a professional skill set to steer a business in the right direction.

With the ability to drive transformation at a rapid rate, an interim manager can be a vital necessity in this current economy of nimble competitors and ‘disruptive’ technology. In this article we will be discussing the key benefits of an interim manager and how to incorporate the role to get the best outcome, as well as common exploring misconceptions around interim management.

Misconceptions surrounding interim management 

Harnessed correctly, interim managers have the ability to take a business to the next level, yet often we see the role misunderstood. Commonly, businesses mistake interims for contractors or consultants.

It is equally important to understand the difference in roles. A consultant will offer great strategic insight though will not execute the strategy. A contractor is the opposite. They deliver the task at hand though are not expected to make strategic decisions.

A good interim executive is a combination of the above roles;they will offer both strategic advice as well as execution. An interim manager will guide the businesses through transformation, initially starting with discussing the strategy, right through to the final delivery. They will then leave a series of processes in place to maintain the achieved result.

The benefits of an interim manager 

As such, there are many benefits to using an interim manager. These include: 

  1. Fast-turnaround

As interim managers are normally available to start immediately and can offer quick solutions, the role is a great alternative to permanent employment, which could take months to fill. They join for however long they are needed and leave once their job is complete.

Interims are adaptable to working environments; skilled in working with speedy turnarounds,meaning you will be able to see progress soon after they start. 

  1. Skilled expertise

With experience across various industries,interim managers offer expert skills and knowledge. Their extensive experience ensures a project is executed to the highest standard, filling missing skills gaps and driving change with minimal direction as well as transferring knowledge to the rest of the team.

Leaving a lasting legacy of their knowledge is a key aspect to their role, as is ensuring effective systems and processes are in place when concluding a project.

  1. Unbiased

A real benefit of an interim manager is that they are separated from company politics and team personalities, though still have the ability to adapt to company culture. Having no previous history with the business, interim managers will have an unbiased opinion and will base their strategy on facts and evidence, offering strategic and impartial advice.

  1. Delivery

Time-efficiency is an acquired skill for a good interim manager. They are focused on successful outcomes and work tactically to ensure work is delivered on time as well as still in budget. Interims also share skillsets with the rest of the company and deliver certain projects that may have been put on hold.

This may be a time of ever changing markets and trends, though with the right advisory set in place and incorporating an interim manager into your new and improved business strategy, you have the ability to take charge of forward-thinking trends and keep up with agile competitors. 



British grocery sales soar 15% on lockdown boost



British grocery sales soar 15% on lockdown boost 1

LONDON (Reuters) – British grocery sales soared 15.1% year-on-year in the four weeks to Feb. 21, the fastest growth since June 2020, as the latest national lockdown curtailed spending in cafes, restaurants and bars, market researcher Kantar said on Tuesday.

England entered a third national lockdown on Jan. 4 to contain a surge in COVID-19 cases that threatened to overwhelm the health system. Rules in England mean schools are closed to most pupils, people should work from home if possible, and all hospitality and nonessential shops are closed. Scotland, Wales and Northern Ireland imposed similar measures.

Last week, Prime Minister Boris Johnson announced a road map out of lockdown in which outdoor-only service in restaurants and bars will not return until April 12 at the earliest.

The pandemic has been changing the way Britons shop for a full year. Overall, shoppers have spent 15.2 billion pounds ($21.2 billion) more on groceries during the crisis, said Kantar.

“We’ve eaten an extra 7 billion meals at home since spring 2020. Office tea rounds meanwhile were replaced by brews in our own kitchens and we drank an additional 2 billion cups of tea in the house this year,” said Fraser McKevitt, Kantar’s head of retail and consumer insight.

Online grocery sales reached a new record share in the four weeks to Feb. 21, accounting for 15.4% of sales, up from 8.7% last year. Kantar said Morrisons, Britain’s fourth-biggest grocer, was again the best performer of the major groups with sales up 13.9% year-on-year over the 12 weeks to Feb. 21.

Market leader Tesco’s sales rose 13.2% and it gained market share for the first time since 2016.

Sales at No. 2 Sainsbury and No. 3 Asda rose 12.1% and 10.3%, respectively. Kantar said grocery inflation was 1.2% over the 12 weeks. It said prices are rising fastest in markets such as colas and chilled fruit juices, while falling in vegetables, bacon and beef.

(Reporting by James Davey in London; Editing by Matthew Lewis)

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German retail sales tumble in January as lockdown bites



German retail sales tumble in January as lockdown bites 2

BERLIN (Reuters) – German retail sales tumbled more than expected in January as the COVID-19 lockdown and the withdrawal of a temporary cut in sales tax hit consumer spending in Europe’s largest economy, data showed on Tuesday.

The Federal Statistics Office said retail sales fell 4.5% on the month in real terms after an upwardly revised decline of 9.1% in December. The January reading undershot a Reuters forecast for a decline of 0.3%.

“This decline can be explained by the ongoing coronavirus lockdown, which meant a closure of many retail stores since Dec. 16, 2020,” the statistics office said.

The end of a temporary sales tax cut may also have contributed as many consumers made big ticket purchases before the end of 2020 to save money.

Fashion retail sales plunged 76.6% year-on-year, while sales of groceries were up 4.3% year-on-year as supermarkets and convenience stores remained open.

Online retailers continued to benefit from shifting consumer habits with sales up 31.7%.

Chancellor Angela Merkel and state premiers closed most shops and services in mid-December after a partial lockdown for bars, restaurants and entertainment venues failed to push down infections.

Merkel and state premiers are due to meet again on Wednesday to discuss a gradual easing of lockdown measures that are currently in place until at least March 7.

(Reporting by Caroline Copley; Editing by Riham Alkousaa and Andrew Heavens)

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The cost of Brexit to an eCommerce business: How can the effects be minimised?



The cost of Brexit to an eCommerce business: How can the effects be minimised? 3

After four years of uncertainty for businesses, the UK has finally left the EU, bringing many changes to rules and legislations into force. Almost every individualomponent of ecommerce businesses will be affected, with everything from shipping costs to trading fees subject to changes.

Despite a long warning period, Government data[1] has revealed that almost two thirds (61%) of businesses had made no preparations to leave the EU by June 2020, and whilst the Covid-19 pandemic had certainly added further economic stress onto businesses during this time, the delaying of preparations has made the process even more difficult. Here, warehousing and logistics platform Trident Worldwide discuss the effects of Brexit on ecommerce businesses and how they can be minimised.

Consider your ecommerce business’ shipping and sourcing locations

For online businesses that are trading outside of the UK, Brexit will now change every element within the business and will determine the complexity of each step of trading, from sourcing materials to postage.

It is vital to consider the location of where materials are being sourced, manufactured, stored, and even where customer bases are situated to keep additional costs at a minimum. For new customs regulations, all ecommerce businesses with need to apply for a UK and EU EORI number to be able to sell into the UK. Only a few weeks into the new legislations and the effects of this change are already showing, and with the UK currently positioned as the world’s third largest online retail market and the top market in Europe[2], this issue is only going to be magnified further.

The cost of Brexit to an eCommerce business: How can the effects be minimised? 4

Leila Aaboud from international law firm Berkeley Rowe explains how ecommerce businesses can overcome changes due to Brexit: “After years of positive growth, it is unfortunate that European e-commerce businesses are facing numerous challenges at the start of 2021 such as delivery speed and technical issues due to Brexit. Businesses actively involved in the international supply chain should now consider applying for an Authorised Economic Operator (AEO) certification to counter the trade delays inflicted by Brexit. Entering the AEO scheme is highly beneficial to businesses in that it will enable them to trade efficiently through simplified customs procedures and fast-tracked shipments. “Additionally, businesses with an AEO certification will gain a ‘trusted trader’ status which is an increasing demand amongst international clients.

“In line with government guidelines and to avoid increased costs and delays when trading across international borders, businesses need to apply for an Economic Operators Registration and Identification (EORI) number. Previously, EORI numbers were only required when exporting goods to non-EU countries however, since January 1st, businesses exporting goods from Great Britain to the EU will need an EORI number starting with ‘GB’. This number is used to uniquely identify the exporter in customs procedures and documentation.

“To avoid any potential losses, e-commerce businesses should prioritise being cost-effective throughout Brexit and should continue lining up their costs during the introduction of new Brexit tariffs.”

Understand new tax regulations and their effects

For goods shipped into the U.K., several changes have taken place that affect VAT, liability, and tax obligations to name just a few key components. To stay profitable, it is key for online retailers to pick the countries that they choose to work with carefully and consider each additional cost throughout the logistics process.

Arjun Thaker, CEO at Trident Worldwide says, “The Brexit deal agreed on Christmas Eve explains that under the new terms, anyone sending parcels from the EU to the UK needs to fill in forms including proof of origin and the reason for sending the package. Retailers selling to the UK are also now required to pay customs duties and fill out declaration forms, as well as register for VAT in the UK.”

Review your supply chain

The three main issues for ecommerce businesses caused by Brexit are delivery times, new tariffs on goods and the drop in value of the pound sterling, all of which affect the supply chain cost and efficiency.

Review your business logistics and supply chain and consider more efficient ways of sourcing and shipping goods that may minimise delays and import duties on goods coming from the EU. If possible, consider bulk-sourcing goods locally; this may cost more initially, but you may save money on importation tax in the long run, making the logistics of your business more seamless.

The cost of Brexit to an eCommerce business: How can the effects be minimised? 5

Arjun Thaker, CEO at Trident Worldwide, said: “Considering the logistics of your business throughout Brexit can be confusing for many businesses as new rules and regulations come into play. It is key for ecommerce retailers to plan, manage and market with effective end-to-end logistics handled professionally to help make the transition easier.”

Be cost-effective

A July 2020 survey conducted by delivery management company Whistl[3] outlined that consumers in Europe feel strongly that Brexit will lead to less choice of UK goods to purchase online. However, UK respondents were more evenly split, with 23% believing that there will be more choice post-Brexit, with an equal 23% believing there would be less. This clearly highlights the uncertainty surrounding ecommerce retail across Europe in a post-Brexit world, yet some retailers are already altering prices to align with this newly acquired outlook.

Amazon UK[4] has taken the decision to add a 20% price increase to items sold by non-UK sellers, with overseas sellers now finding themselves in an increasingly difficult position in which they are unable to compete with domestic sellers. Sellers on Amazon UK are also seeing increased importing fee deposits, with a huge 60-day waiting period for refunds, effecting the trust between ecommerce businesses, and selling platforms.

Arjun at Trident Worldwide explains: According to government calculations published last summer, it was suggested the UK businesses would have to submit 215 more customs forms a year after Brexit, from EORI numbers for every order, to Rules of Origin and Customs Declaration, as the requirements for information are huge.

The present drama’s and delays are thought to be caused by extra paperwork and additional customs and border checks. We can already see the parcel carriers and logistics providers struggling and the retailers adding additional pricing for international deliveries, so far, several companies have been hit by the disruption almost three weeks into the new arrangements.

So, who is going to pay these additional costs? Ultimately, it is us the consumer who will have to pay the additional costs added to the price of delivery and the price of goods.”

The ecommerce industry has undoubtedly been changed, with many businesses having to adapt quickly to the new regulations brought into place. By remaining reactive and critical of each aspect of the business, online retailers are more likely to thrive and grow.

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