Interim Management Services
When crisis strikes your business, what can you do? As you try to pick up the pieces, at some point your mind would likely turn to the fantasy of bringing in an accomplished executive with extensive experience in the exact type of crisis your business is experiencing, just long enough to get you through it. That’s no fantasy, though. Such an option exists.
It’s called Interim Management, and it’s one of the latest forms of troubleshooting management techniques to emerge in recent years. While similar to bringing in a management consultant, it has striking advantages that can help your business recover far sooner and far more effectively than a management consultant can.
What is interim management?
According to the Interim Management Association, “Interim Management is the rapid provision of senior executives to manage change or transition”. In simpler terms, an interim manager is a highly experienced and specialized executive whom you can employ for a short time to solve a specific business problem. He or she is a master project manager who will not only give you advice, but also implement your solution.
For example, consider a family-run company that has lost its competitive edge in the market the past five years due to internal politics amongst family members. To make things worse, the Managing Director has suddenly resigned and the Chairman realizes that the existing management team is too inexperienced to run the company.
Interim Management Trends
The interim management industry emerged in the European market in the 1970s and 80s, in response to the long terms of notice and high termination payouts typical then. The oil crisis further disrupted industries, creating a need for highly skilled and experienced managers on an immediate basis to rebuild failing companies.
The public sector employs almost 20 percent more interim managers than the private sector, but private sector employment increases steadily because of growing awareness of the excellent reputation for quick and effective strategic management that interim managers are earning. That suggests that the excellent growth that the interim management industry enjoys will only accelerate.
Our interim managers work for a fee of 20$ per hour