The concept of interim management is commonly believed to have originated in Holland during the 1970s, when employees were protected by long notice periods, so businesses experienced large costs if they wanted to terminate an employee. Thus the practice of hiring managers on a temporary basis was developed as a cost effective solution to the changing needs of businesses.
Interim Management is the use of senior, professional directors and managers on a fee and fixed term basis to achieve a high impact on specific roles or objectives. Interims are skilled professionals operating at a high level, sensibly over-qualified for the assignment, and able to bring a breadth of experience and skills to facilitate prompt results. They are typically used at short notice for short and medium term high impact roles, and can incorporate the roles of consultancy and project management, planning and implementing change, so ensuring seamless delivery and full accountability.
An effective option when a company needs extra resources and or specialist skills at short notice. Typically interim assignments fall into two types, gap-filling, in the case of, say, maternity leave, promotion, notice or long term sickness, and project management, helping the client achieve change, such as rationalisation, MBO, IT systems upgrade, business process re-engineering etc interim management is different from consultancy, as interim managers work in hands-on roles, where they are part of the client's management team, while consultants are purely advisory; however, most senior interim managers have the experience and skills to combine the two roles by both designing and implementing the solution. The combination of the two roles is particularly effective as it avoids any interface and communications issues while expediting the project - thus saving time and bringing the benefits of the project in earlier.
Interim Managers are taking full advantage of the recession. They are an experienced, transient resource and they can be parachuted-in to companies to deliver proven solutions, without adding to permanent headcount. Interim is an invaluable 'tool' for both the private and public sectors that still need to fulfill contracts to their customers, initiate major change programmes or solve difficult strategic and operational imperatives".
Operating on a freelance basis, and are either self-employed or work through their own limited companies. Interims managers are not temporary employees, but are professionals in business on their own account, with the risks and rewards that that implies. They are responsible for their own arrangements for holiday, pension, health insurance etc, and will normally carry professional indemnity insurance
Do you have that independent streak that makes you want to own and run your own interim management business? Do you have that personal credibility and self-confidence to tackle problems and quickly produce solutions, and the inter-personal skills and authority to implement those solutions, all in what will be, to you, a new interim management operating environment.
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