Interim management projects is set of activities in the clients organization that produce a result defined at the beginning of the project.
Interim management can be defined as:
- Rapid temporary supply of an individual with management expertise into an organisation to manage change,transformation, crises, transition, business improvements or strategy development by providing effective business solutions over a finite time span.
- Activity with defined time, objectives, result and scope, carried out by an individual within an organization aimed at specific, agreed business results based on co-operation and participation in risk and profit in the scope of intended results.
Interim management is a service that enables you to hire a manager, with a particular type of expertise, to work within your organisation, for a limited amount of time.
Interim managers have become a powerful resourcing option in today’s fast changed business environment. It’s one of the latest forms of troubleshooting management techniques and most cost effective tool for temporary management needs.
Interim Manager can be defined as:
- Highly experienced, qualified, pragmatic executives with the knowledge,skills and abilities to deliver an immediate and lasting impact whom you can employ for a short time to solve a specific business problem.
He will not only give you advice, but also implement agreed solution. They offer independent expertise, free of company politics, and take responsibility for delivering results.
- Are able to manage an organisation through a period of change or transformation, provide stability. They are initially judged by their personal capabilities and finally by their results.
- Operate primarily at management and executive levels with proven ability to deliver at all levels, combining knowledge, technology, process, and people skills. Titles rarely trouble them.
- Have the expertise to address ‘Business as Unusual’, offering fresh perspectives, facilitate discussions, draw up proposals, engage stakeholders and help manage implementation.
- Can be seen as change agents. Using their expertise they propose direction for change, prepare detailed action plans and support their implementation.
- Possess effective communication skills. The ability to deliver clear messages to a wide variety of audiences is an essential skill, particularly when it comes to challenging existing attitudes and systems
An organisation may choose to engage the interim management when:
- The role in question is not a permanent position or a permanent executive/manager cannot be found fast enough.
- A company is facing growth and structural challenges or when they are without a CEO and quickly needs to fill the position thus plug a critical management gap.
- Crisis management is needed.
- Direction change is needed.
- New technology implementation.
- Turnaround and restructuring.
- Keep up morale among employees.
- Pre or post merger direction.
- Succession planning (especially in family owned businesses).
- Opening up a new market.
- Acquiring a new subsidiary company.
- Managing a one-off project.
Interim managers are typically hired for three to nine months.
Management consultants advise and propose. Interim managers advise, propose and implement. It is consultancy with implementation.
In addition to routine management, companies face different types of issues contributing to their survival or expansion such as mergers, acquisitions, reorganization, cost control etc. For this, they operate in project mode, disrupting the flow chart. Indeed, operating in project mode instead of hierarchical mode sometimes involves injecting in the company external competences in adequacy with the strategies and the need of the company.
What Are The Benefits hiring Interim Managers?
- Return On Investment. Interim managers add value by using their skills and expertise to help deliver an outcome, solution, service or risk mitigation that provides a meaningful return on investment to a client.
- Availability. Interim managers can be in place within days as opposed to weeks or months, which is essential when time constraints are paramount.
Interim management assignments fall broadly into two categories: covering management gaps and bringing about and managing change.
- Expertise. Interim managers typically operate at a senior level in the client organisation and are well qualified for the roles they take on. They often bring skills and knowledge not otherwise in place, to address a specific skills gap or problem. Their experience and expertise enable them to be productive and make a noticeable impact from the outset, maximizing the likelihood of success.
- Objectivity. Neutrality. Fresh perspective. Not bothered by company politics or culture, separate from institutional power play and politics, interim managers provide a fresh perspective and are able to concentrate on what’s best for the business, highlighting areas that require attention. Being independent operators, they are able to contribute honestly without constituting a threat to the incumbent management team While sensitive to the company’s ethos, they will not be constrained by company politics, personalities or protocols. Having no previous history with your business means they can look at the situation objectively and with clarity.
- Accountability. Delivery of objectives. Rather than taking on a purely advisory role, interim managers are leaders who take responsibility for and manage a business or project in their own right. They expect to be held accountable for results and by being involved in an assignment’s successful delivery. Interim manager are expected to be able to take on the full range of managerial duties: including project leadership, policy implementation, budget planning and service development.
Over the years we learned that if we asked people to rely on logic and common sense instead of on formal policies, most of the time we would get better results, and at lower cost.
- Effectiveness. Operating at or near board-level gives interim managers the authority and credibility to effect significant change or transition within a company. They actively add value to the client organisation as a result of their expertise and approach, even when the work and the decisions to be made are difficult.
- Commitment. Capable interim manager will get control of the situation, put plans and resources in place to run the company, find their replacement if necessary, and leave when the project ends or the company is turned around. They maintain high professional standards.
- Experience. Interim managers are typically overqualified for the role, meaning they can operate fully autonomously if necessary with little guidance.
- Results. Track record and performance really count, so interim managers are used to being judged by results so they know how to deliver
- Knowledge transfer. With a wealth of experience comes skill, contacts and knowledge that will be transferred to your team and remain long after they have left