Interim Management and Interim Managers

No Shortage of Temporary Managers Compared To Interim Managers

Managers who take a temporary contract between permanent roles are often referred to, particularly by agents who don't specialise in the interim management field, as interim managers. Unfortunately this isn't always an appropriate characterisation.

From the perspective of an individual who has just taken a redundancy package say, and is looking for their next permanent career opportunity, the chance to take a short-term assignment is an appealing prospect. Firstly it means that they can put more of their redundancy package away for a rainy day; which is a very attractive notion. Rates for interim management assignments, are typically higher than equivalent permanent packages and so can be used to negotiate a better package in the interim manager's next permanent role. The experience gained during an assignment can also add value to a cv as can the addition of a prestigious employer's brand name. This means that there's usually no shortage of temporary managers, who can be labeled as "interim managers" and charged at a premium to clients.

Risks of Not Using Interim Management Specialists.

However, sometimes it's not quite so simple is it? Not everyone is suited to intensive interim management assignments.

To be a successful interim manager its necessary to be able to:

quickly adapt to a new environment without a support system
identify stakeholders, holders of data and key influencers quickly
enjoy building relationships with new networks of colleagues fast
be able to diagnose problems and propose solutions very rapidly
deliver value for clients which more than pays them back for their investment
be seen to be engaging with the business and delivering value
be prepared to work away from one's family for much of the working week

These characteristics are similar to those exhibited by management consultants.

By contrast people who've worked for only a few businesses for considerable periods of time, may find it a struggle to adapt without the benefit of the support systems that they'd had in their permanent roles, to such an extent that some temporary managers can be almost paralysed by the fear of the unknown under such circumstances. With support, some can break through this wall. Unfortunately others fail to.

Furthermore, if an individual isn't a committed interim manager and they're actually "in between permanent roles", it often means that they'll want to take time off to attend interviews and when they come under offer, will be itching to leave an interim assignment at a moment's notice.

Those who have come from exactly the same industry or done the same role will represent a less expensive approach for less of a risk for clients, but an assignment often involves challenges which are unfamiliar and require thinking "outside the box", beyond the norm of day to day routine.

Interim Management Specialists

Interim managers have chosen by way of contrast, to make it their career on a permanent basis. They're not just filling a gap in their permanent career. Since they rely on their relationships with interim management agencies to at least partly maintain their income stream; establishing and then developing their reputation amongst the agents is paramount. To do this they must be able to demonstrate a track record of consistently satisfying their clients.

The agency who proposed the "interim manager" who started an assignment and let their client down, isn't going to take a risk in putting them forward again.

Temporary manager's in between permanent roles will opt into a PAYE relationship with a client, but a bona fide interim manager will invoice the client through their VAT registered limited company.

The industry's institute only grants membership to individuals who are clearly committed to an interim management career and have completed at least eighteen months on active assignment. The thorough assessment of prospective candidates by the Institute gives clients and agencies alike another helpful data point to judge assess the credibility of applicants.

Interim Managers or Temporary Managers?

Particularly if a candidate's match to a role is very close, temporary managers who are looking for their next permanent role, may be an appropriate solution for clients who are wishing to resource low-risk short term assignments at daily rates which are not dissimilar to permanent salaries.

However, although more expensive, when clients have higher visibility / higher risk projects, and it isn't worth taking the risk, the services of a career interim manager, who has a track record of delivery under similar circumstances are often a more appropriate solution.

For more information about becoming this exciting career why not attend an Interim management workshop ?