Frequently Asked Questions for IED Services:
- 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? With the individual?
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, we recommend an opportunity to meet together with the Board Chair (including with your current ED, if appropriate) and your involved Board members to learn of your needs before any “scope of work” agreement is designed for your specific and unique circumstances. We can do this quickly. We work at the pleasure of your Board. We will recommend one or more engagement leaders from our roster, based on the match between their skill sets and your organization’s needs. Once an engagement leader is selected, the “scope of work” is designed and the contract is signed by your Board Chair and IES’s managing partner.
- How do you estimate your cost for the contracted engagement? You mentioned the interim’s salary is expected to be the same as the outgoing ED’s. What about benefits?
The value of your budgeted ED salary and benefits is the basis for our contract pricing for an IED (interim executive director) role. We use this as the assumed cost you are able to pay. This is part of our “fairness doctrine”. 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, a salary plus benefits value 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 asked to include IEDs on your current insurance policy 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?
Our “normal” interim engagements thrive on three days per week, with the understanding that they 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. Your Board may wish to consider two interim professionals serving as a team, have one interim but vary the requirements for onsite vs remote presence, etc . Depending upon the skills and nurturing required for the staff and other stakeholders, the combination may be able to contribute every day of the week, but not “full time”. Meaning there would be a leader working each day, but someone the first three days of the week, and a teammate working the last three days with an overlap on Wednesdays.
From IES’s perspective, we want to meet your needs and discuss with you what might be the best method for covering your interim needs. This is all open for discussion. We wish to be flexible and fulfill our pledge to offer the Board a positive leadership solution during your period of transition.
7 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 etched into the 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 about two weeks, for each party, prior to termination.
8 Can IES carry out the search for a new ED, as well as providing an Interim?
IES does not accept 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.
9 What if we need an expert or other than a search expert during this engagement?
IES has a many highly qualified specialists covering issues like financial assessment, strategic planning, advisor 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 knowledge of capable professionals and are happy to make recommendations with no fee to your organization.
Our mission is to make your organization successful!