Advantages of Interim
The Benefits of Interim ManagementInterim management can have many advantages over a permanent placement.
In our view, one of the key benefits of an interim executive is the experienced, independent view he or she brings. With no history or axe to grind, a talented interim executive can boost the morale of the team and provide tangible short-term solutions or longer term strategies.
Interim executives are cost effective because they are a variable cost, not a fixed overhead. In addition they offer flexibility in terms of their availability, working hours, work location and role. The short-term nature of their contract also offers room for manoeuvre when necessary.
Professional interim executives are result orientated and used to working towards a specific goal and delivering to a deadline.
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Advantages of Interim ManagementInterim Managers have become the most important resources in most business nowadays. It is deemed beneficial for companies in fast-paced environments where companies find it a very important segment.
Thus, summarizing the advantages of an Interim Manager in an assignment as follows:
Flexibility in Deployment and Immediate Resources
Interim Management is deemed to be an immediate solution to bring resources to the assignment quickly, deploying the best of the best candidates to provide the deliverables needed.
Interim Manager resources can be taken on-board in a span of a few days contrary to weeks/months that one may encounter for permanent candidates. In a critical situation where there is a sense of urgency, waiting another day or two means putting more risk to the company, thus, losing more money as each day passes.
Flexibility is the key to Interim Management. It is its very nature in the client’s perspective including the extension. The very nature of Interim Management means the greatest flexibility from a client’s perspective including the extension, development or conclusion of the agreed services.
Succession planning is not a priority for Interim Managers because they are permanent resources of the company, thus, their role does not threaten any internal resources and any related succession planning procedures.
Permanent headcount is also not impacted because Interim Management delivers solutions when clients are constrained on permanent headcount. Provided this, they are still required to deliver the business goals.
Expertise Provides Speedy Outcome
Interim Managers are experts. They are highly capable, skilled and able to deliver results as soon as they assume the role. Due to their expertise and experience, they are fully able to increase productivity in just a few days. Their expertise is highly suitable for project work since they focus on accomplishing the desired outcome and providing a strong understanding on key progress, regular improvement reports and performance improvement indicators.
Interim Managers often step down in their position because they are usually overqualified for the role they take on. They usually have previous similar experience/challenges in the projects they are about to carry out. Their experience is ensuring success allowing them have instantaneous results and increased productivity at the outset. With this, they train and transfer the skill to the existing internal resources.
The very fact that they are external resources joining a project, Interim Managers offer a new outlook without focusing on what is deemed best by the company. They are not compelled to abide by existing company procedures, office politics, personnel relations, or any job progression. They are in the position to identify issues and implement new strategies that company insiders may not have any visibility on.
Accountability is a key characteristic of Interim Managers. They will take full and direct responsibility of the deliverables, budget control, management of resources, increase productivity and others of the project accordingly. The Interim Manager becomes responsible and fully the accountable line manager who owns and manages a business or implements a project and ensures its success. This is in contrast to a management consultant who usually adopts a pure advisory role.
Interim Managers operate at or close to the board-level and are given the authority to give relevant movements and changes in the organization. They are hired as catalyst of transitions and allow changes to happen pretty quick. They are the needed expertise that most likely is unavailable within the organization.
Professional Interim Managers are fully committed throughout the entire project and will not take any assignment if a permanent role comes along. Good Interim Managers embrace all assignments, challenging or different, with pride and have the ability of maintaining the standards and understands that the next job depends on the current project’s success.
Interim Managers of good quality take control of the situation, place plans and resources in place to run the organization, search for their replacements if needed, and leave when the assignments end or the organization is turned around.