Debbie Carr Agency

Keynote speaking, motivation, personal development

Why Hire or Become an Interim Manager

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When SME’s are facing change or rapid growth and don’t have a budget to hire a full time executive a viable alternative is to utilize the expertise of an Interim Manager.

With growth and change in business, also comes added pressures which often can’t be dealt with due to under resourcing. Forward thinking organisations utilise the skills of Interim Managers as the ideal solution to the problem of not having the right resources in place. Interim Manager’s are high calibre executives who work on a contractual consultative basis as their full time occupation. Often Interim Managers have chosen this career path as they thrive on challenges and love the satisfaction it brings by providing solutions to their clients, as well as the flexibility it gives to their lifestyle.

The role of the Interim Manager Interim Managers can be utilised to manage projects, assist in implementing change, fill in for existing management or assist if resources are too stretched. They can be hired to fill a gap when recruiting for a person to fill a permanent position. Many Interim Manager’s become mentors and are able to coach others in the team on new skills. They can perform a wide range of functions in different industry sectors and can also operate as a non-executive director. The skills that an Interim Manager can bring to the table are varied and can include, but not limited to:

■Acting CEO, CIO, CFO, COO
■General Management
■Business Development
■Operations
■Asset Management
■Finance and Accounting
■Cash Management
■Information Technology
■Compliance
■Marketing and PR
■Investment Strategy
■Information Systems Strategic Planning
■Procurement Streamlining
■Feasibility Studies
■Mergers & Acquisitions
■Project Manager
■Financial Restructure
■Strategic Planning
■Due Diligence Examination
■Expert Reports

Companies may be reluctant to hire an Interim Manager due to resistance from senior management or concerns that the Interim Manager may not be the right cultural fit. Other objections may be concerns that the Interim Manager won’t understand the business and that they will have access to confidential information. These are genuine concerns and can be addressed by realising that each Interim Manager is chosen based on credentials, past experience, cultural fit and skills. They all come with testimonials of past achievements for different organisations. After all, each Interim Manager has his or her own reputation on the line so they need to ensure that they will be given further assignments.

Cost-effectiveness Interim Managers are charged out on a daily rate. At first this may seem high however once we take into account that the costs of super, car allowance, share schemes, redundancy, PAYE, sick leave, recruitment costs, training, holiday leave pay etc do not have to be met it works out to be very cost effective. The other benefit is that the Interim Manager only gets paid on the days worked. The Interim Manager as a career choice Life as an Interim Manager has a lot more flexibility and independence, along with great challenges and the satisfaction of completing a successful assignment. Other benefits are variety, escaping from corporate politics, the ability to mentor others, making a positive difference to your clients and of course building a reputation for yourself as an expert.

In addition, Interim Managers are highly remunerated and charge a daily fee. Other reasons you may wish to become an Interim Manager:

■Escaping from the restraints of a permanent corporate position
■Taking control of your own working life
■Increasing your own business experience portfolio
■Less stress and the ability to totally focused on the job
■A better work and home life balance

Have you got what it takes? To be a successful Interim Manager you will need to demonstrate a strong history of delivering results in a corporate career showing progression through positions and increase in responsibility. You will need to be focused, be able to live with the fact that you do not always know when your next assignment is coming from, be able to quickly adapt to the client environment and culture, be able to deliver solutions and confidently present your ideas. To start as an Interim Manager you need to plan like a business owner, as that is exactly what you will be. This means having enough cash in the bank to be able to support yourself and family if at times you do not have an assignment. You will have to be adaptable, a bit of risk taker, driven and be prepared to travel.

When interviewing for an assignment you will need to be able to offer solutions, think quickly and sell yourself to the client. If registering with my company, you will also need to register a business name, register for GST and have your own professional indemnity and income protection insurance. Work will come from recruitment agencies that you may register with, your own marketing and by building your networks.

Example of The Interim Manager’s CV and how I prefer CV’s to be formatted.

CURRICULUM VITAE
John Citizen MBA,
Address:
Telephone:
E-mail:

EXECUTIVE SUMMARY

 A hands-on problem solver with a reputation for business growth. Expert in organic growth over relatively short time. Extensive international experience including residential stays in Hong Kong and Singapore. Established own business in June 2003 to provide interim management and consultancy services.

INTERIM ASSIGNMENTS COMPLETED:

Period
TITLE for BUSINESS/ORGANISATION

Brief Description of the Organisation Achievements: List in dot points Keep repeating all assignments in list

CURRICULUM VITAE
Education:
Qualifications:
Memberships:

NAME OF COMPANY and period of employment
Title Turnover/Employees etc
Brief description of Company Responsibilities (Describe what you were responsible for in this role)
Achievements (in brief dot points)
(Keep repeating for all positions)

INTERESTS Debbie Carr is a Professional Recruitment Consultant and Director of Vox Recruitment Debbie has been in the professional speaking industry since 2004 and operates her own speaking bureau.

Author: Debbie-Carr.com

Debbie Carr Founding Director of Voxy Lady Women's Speaker Bureau and Vox Presenters

2 thoughts on “Why Hire or Become an Interim Manager

  1. Pingback: What are the three types of Interim Management assignment? « Dr Alf's Blog

  2. Pingback: Three Stage Survival Guide for the Independent Professional Executive, Consultant or Specialist « Dr Alf's Blog

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