Why use an Interim Manager?Change is the only constant as companies strive to improve their competitive proposition. Sometimes the individuals required to deliver strategic and robust change are already utilising this experience to its current capacity so rather than recruit forward thinking corporations turn to Interim Management.
A professional Interim Executive can provide senior experience, skills and capacity to gain a real competitive advantage allowing the company to grow, expand and deliver on its key objectives.
Speed of deployment
The speed with which an Interim can be deployed mean that it can take only a few days for the impact on your organisation. With no history or axe to grind, a talented interim executive can boost the morale of the team and provide tangible short-term solutions or longer term strategies.
Professional interim managers are talented, results-driven individuals dedicated to driving change and making a difference. Generally utilised at board level or to work closely with the Executive team, they have the credibility to affect change and transition rapidly.
As independent operators, Interim Managers are completely committed to their clients. Their future work relies heavily on referrals and successful track record of delivery. They have a huge influence in the success of the assignments they undertake.
Benefits of Interim Management
There can sometimes be a reluctance to utilise Interim Managers. Factors can include:
- Political implications of engaging external individuals
- Level of commitment from an interim manager to the business
With rates ranging from £800 to £2,500 per day, at first glance these figures can seem high and dissuade some companies from engaging an Interim Manager when compared to a permanent employee. However, when taking into account the hidden and total cost of a permanent employee to a business, the equivalent day rates can seem reasonable by comparison.
The Interim Manager charges only for the days worked with no additional NI payments, employee tax, holidays or pension payments applicable. An Interim Manager can sometimes be assigned to operate part-time or on a project basis, usually for three, six or nine months, which can be vital in helping manage costs.
The Interim Manager also brings an objective viewpoint on what is best for a business and are able to contribute honestly without being seen as a threat to incumbent management teams. Experience shows that team members welcome Interim Managers into the business, especially when it is understood that that they are not a threat, but are there to assist in achieving specific goals.
We set Touchwood some tough timelines to deliver a niche skill set in our search for an Interim Financial Director.
We were able to leverage their knowledge of the marketplace, coupled with their deep network of Professional Interim Executives to deliver a strong shortlist of professional interim executives, enabling us to complete the entire process in 10 days.
An Insight to Interim Management
Download our complimentary client guide featuring the most frequently asked questions about Interim Management.