24 Jan
Advantages of Interim Management
External know-how and a fresh perspective
According to the SpenglerFox Interim Management global survey the most widely recognized benefit of Interim Management is the external know-how and the fresh perspective delivered by an Interim Manager. Other advantages include:
- Flexibility & efficiency of resources
- Availability at short notice
- Extensive Experience
- Proven Management Skills
- Transfer of external know-how
- Independent & fresh perspective.
- Cost Effective
- Solution without permanent commitment
- Avoid permanent headcount in a tough economy
- Alternative to expensive consultants: Interim Mangers are hands-on rather than 'advisors'
Who are Interim Managers?
Interim Managers are highly experienced, results oriented executives and/or specialists usually with 15+ years industry experience in top management roles.
Typically they have played key building careers in their professional roles & now their focus is applying their knowledge to new situations. Some are entrepreneurs who have sold their businesses and want to bring their knowledge and expertise to new businesses.
They are independent senior executives, who enter an organisation to solve a particular issue and exit after the problem is resolved. They are not consultants – while a consultant acts in an advisory capacity, Interim Managers are very hands-on and involved throughout the assignment. Roles covered can be any executive or senior management position – such as CEO, CFO, Business Unit Heads or specific Project Managers.
Who are Interim Managers?
Interim Managers are used on a short to medium term basis (on average 6 – 9 months) for high impact roles. Assignments can be part time or full time.
- Executive interim managers operate through their own companies
- They have appropriate insurance in place
- They have all made the conscious decision to make interim management their career choice
- No license required
- Easy termination: Interim Managers can be terminated at very short notice with no risk, termination bonuses or severance packages
WHY CHOOSE INTERIM MANAGEMENT?
Excellent solution for businesses dealing with challenges, disruption or change.
Interim Management offers clients a flexible resourcing solution to enlist the services of a senior level executive and/or specialist on a temporary basis. Interim Managers can be an excellent solution for businesses dealing with challenges, leading change or filling a temporary gap in the organisational structure. Examples of situations where an Interim Manager can be used include:
- Management of line functions
- Leading a transition or change process
- M&A's and managing post M&A integration
- New market entry
- Start-up operation
- Fast tracking & managing a critical project
- Cost reduction through hiring a cost reduction specialist
- Filling a gap due to maternity leave, resignation, sick leave etc
- Business turnaround/crisis
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