Executive interim management is the short-term assignment of a proven heavyweight executive to manage transition, crisis or change within a company.
The period of change may be sudden or for a limited amount of time only, meaning a permanent hire is unnecessary. Internally, there may not be anybody suitable for, or available to take up, the position.
Typical business scenarios for which an interim manager can be the ideal solution include:
- Crisis Management
- Sudden Departure
- Change or Transition Management
- MBOs and IPOs
- Project Management
There are several factors that make interim management a powerful resourcing option:
- Speed: Interim managers can be in place within days, having an immediate effect and productive from day one.
- Experience: Interim managers will be more than qualified for the position and have vast experience of similar challenges, minimising any risk and ensuring success.
- Objectivity: Unencumbered by any previous involvement in company processes or internal politics, interim managers provide a fresh perspective and purely concentrate on what’s best for the business.
- Accountability: Rather than taking on an advisory role (as a management consultant would), interim managers will implement and manage a business or project in their own right, taking full responsibility.
- Effectiveness: Operating at, or near, board level gives interim managers the authority to effect significant change or transition. Unlike a temp, they’re not just there to hold the fort.
- Commitment: Interim managers are committed to their interim career. They are not looking for a permanent position, preferring the challenge of different assignments. They take great pride in maintaining the highest standards and they know that they are only ever as good as the last job.