How to manage the crisis with professional support
IMC Austria by Alfred Harl
Corona and the aftermath have caused the demand for crisis managers to rise sharply.
The Advantage: managers can be hired at very short notice to take on complex tasks immediately.
While large parts of the economy were paralyzed in the weeks of forced closings, there was at least one branch that saw significant inflows precisely because of this exceptional situation. The new crisis situation prompted many entrepreneurs to seek help from specialized management consultants.
The increased demand is met by a significantly increased supply. Corona crisis managers offer their services, such as creating emergency plans for companies. Interim managers for example are offered to bridge the crisis and step in within a few days to lead a company through a critical phase for a few months. A possibility that is enjoying increasing international popularity.
“Whether a company can survive or not is often decided at the very beginning of a crisis,” says Alfred Harl, chairman of the Fachverband UBIT, the Austrian Federal Economic Chamber’s (WKO) professional association of management consultancy, accounting and information technology. Professional help can be decisive when it comes to limiting losses, taking advantage of new offers of help and checking the company's strategy for its future viability. But that does not automatically mean golden times for the consulting industry.
“Companies with the greatest need for advice currently have the least financial resources available. At the same time, many clients forego the large area of training and further education, in which 20 to 30 percent of Austrian consultants’ work”, says Harl.
The biggest challenge now is to secure liquidity in the short term. Only if the company's solvency and viability are assured can government relief efforts help.