Before we explore the successful deployment of Interim Management it will be valuable to explore the circumstances and history of this quickly expanding management practice. The concept of interim management is commonly believed to have originated in Holland during the 1970s, when employees were protected by long notice periods, so businesses experienced large costs if they desired to terminate an employee. Hence the use of engaging managers on an interim basis was developed as a more cost effective option in meeting the changing requirements of the organisationSo what is Interim management? It is the use of leading, specialist directors and managers on a day rate and fixed term basis to realize a higher impact on individual roles or objectives. Interims are skilled professionals operating at a high level, sensibly over-qualified for the assignment, and able to bring a breadth of experience and skills to facilitate prompt results. They are typically used at short notice for short and medium term high impact roles, and can incorporate the roles of consultancy and project management, planning and implementing change, so ensuring flawless delivery and full responsibility. Interim is an efficient option when an organization needs extra capacity and or specialist skills at short notice. Generally interim assignments fall into two types, gap-filling, in situation of, say, maternity leave, promotion, notice or longer term sickness, and project administration, helping the customer achieve change, for example rationalization, MBO, IT systems upgrade, transnational process re-engineering etc. Interim Management is different from consultancy, as interim managers work in hands-on roles, where they're part of the client's management team, while consultants are solely advisory; however, most senior interim managers possess the knowledge and skills to combine both roles by both creating and implementing the solution. The combination of both roles is particularly effective because it avoids any interface and communications issues while expediting the project - thus saving time and bringing the advantages of the project in sooner. Operating on a contract basis, and are either self-employed or work through their own limited companies. Interims managers are not temporary employees, but are professionals in business on their own account, with the risks and rewards that that implies. They're responsible for their own arrangements for holiday, pension, medical health insurance etc, and will normally carry specialized indemnity insurance. At present Interim Managers are taking full advantage of the recession. They're an experienced, mobile resource and they are typically parachuted-in to companies to deliver proven solutions, without adding to permanent headcount. Interim is an invaluable 'tool' for both the private and public sectors that still need to fulfill contracts to their customers, initiate major change programmes or solve difficult strategic and operational imperatives". It is vital if you're considering using Interim Management as a business solution that you follow the following simple guidelines; Establish a transparent assignment brief with detailed project deliverables. If you're uncertain how to approach this first step we can provide you with guidance on producing suitable interim assignment brief. Ensure you have a sponsor of the project at a senior level within your organisation. Interim management projects that don't have a senior sponsor inside the organisation are more prone to fail in the delivery of key objectives. Have an assignment briefing with the interim service provider before their engagement and make sure that you list the key objective and the scope of any assignment. Have a frank conversation with the provider about day rates and a sensible budget plus a defined timescale for the project. Ask for terms and conditions and make certain that any contract contains detailed schedule of objectives and pricing. Commission your service provider to offer you a shortlist (two to 3 candidates) of suitably over qualified and experienced interim managers. A high-quality service provider will keep in regular contact throughout an assignment and will be willing to resolve any issues that may arise during a project. Do you have that self-reliant streak that creates you want to be in possession of and run your individual interim management business? Do you have that personal credibility and self-confidence to tackle problems and quickly produce options, and the inter-personal skills and authority to implement those solutions, all in what will be, to you, a new interim management operating environment. If you're considering a career in Interim Manager then please do visit our web page and particularly our advice page on establishing a successful Interim Management career.
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The article reviews the growth of the Interim Management sector and provides simple guidance on how to effectively appoint Interim Managers.
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