Interim Management: A Definition
Interim Management is a service that enables an organisation to:
- hire a manager; that is, someone who will manage a project or department for you, providing expertise, managing the change/transition and fulfilling line management responsibilities
- with a particular type of expertise; the Interim Management industry is now so large that almost any type of expertise you need will be available in this way
- to work within the organisation; an interim manager becomes a part of the organisation and responsible for implementing change, rather than just making recommendations on how you should do it.
- for a limited amount of time; interim managers are appointed on a short term contract; that is, it is delimited by time, or perhaps by the achievement of specific objectives.
There are usually two ways of finding an interim manager
The most common is an Interim Management Agency. These agencies assess managers prior to being placed on their books. When you have a need for a particular expertise, then can consult their database and quickly identify a number of candidates who have the requisite skills and are available. The Interim Management Agency do not usually charge for the selection service, but they claim a percentage of the regular fee.
Another way of finding an interim manager is to make contact with an individual directly. This can be more time-consuming, though you may be able to find someone experienced at a lower rate. You can find individuals either through management associations, internet search or by networking (asking your current managers or consultants if they are aware of anyone with the particular expertise you are looking for).