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Here we explain what Interim Management
is, how it can help you and also
provide a section to answer commonly asked
questions.
About Interim Management
Interim management is the provision of an executive contracted
on a short-term basis to carry out a specific management task
within a company. Increasingly, interim managers are recognised
as the practical implementers.
An interim manager may be the ideal solution to a temporary
skills shortage for your company if it is:
- embarking on a new project or trial
- short of specific expertise or needing to support a newly
placed executive
- struggling to cope with the sudden loss of a senior executive
- restructuring or relocating
- underperforming or has a poorly performing unit.
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Key benefits
Interim Managers are:
- result-oriented and flexible
- cost-effective on a full or part time basis
- independent and objective
- accustomed to working within a finite period of time
- available immediately.
70% of companies that use interim managers use them again.
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Q and A
1. What is interim management?
The provision of additional management resources where and
when they are needed.
2. Who are interim managers?
They are experienced hands-on executives and managers with
proven track records.
3. When am I likely to need an
interim manager?
The need to use an interim manager can occur at any time when
additional management expertise is required:
- for a growing company
- to improve a company's performance
- to 'hold the fort' during the recruitment of a new manager
- when there is an excessive workload, backlog or an unexpected
increase in business.
4. At what level do interim managers
operate?
All executive and management levels from Chairman to line
manager.
5. Surely the interim manager will
need weeks to get to know my business?
An experienced Interim knows the client's industry & has
the skill to be effective from day one.
6. How much does an interim manager
cost?
The cost is comparable with the total cost of employing a
permanent manager, taking account of all employee costs such
as:
National Insurance, pensions, health insurance, company car,
payroll costs, relocation costs.
7. How will using an interim manager
affect the permanent staff?
Experience shows that interim managers are made welcome for
a number of reasons:
- they bring skills and experience to the company
- their appointment is a positive management decision
- they are temporary and therefore not a threat.
8. What happens when the job
is completed?
The contract comes to an end and there are not any termination
costs.
9. What is the difference between
interim managers and management consultants?
Interim managers are doers. They are 'hands-on' managers employed
to do specific management tasks. Management consultants are
advisors. They make recommendations.
10. Who uses interim management?
All companies, from major Plc’s to small family-owned
businesses, from International Corporations to small Start-ups.
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