I know you are busy. Not enough hours in the day. Deadlines rapidly approaching. Your children call you Uncle Dad or Auntie Mum. Before the stress takes its inevitable toll think about relieving the pressure without adding to head count.
Why s Interim Management an opportunity at present? Mainly as a result of the continuing economic conditions numerous companies have folded this year and a similar number have been taken over or merged with others. Obviously companies that fold are too late to be helped although I am not sure too many actually sought the right professional help and guidance in good time.
Those companies and Private Equity players merging or buying in this period need to have their new businesses in good shape to ensure the ROI in the contract deal has even a chance of coming to fruition. When the green shoots of recovery actually start looking like shrubs, shareholders and PE owners will rightly expect their pound of flesh.
One route to accelerating and establishing integration and realignment is to use the services of an Interim Manager. Hear are 7 reasons why hiring an Interim Manager (IM) can be of benefit.
- Return On Investment. No, it is not more expensive than hiring full time (FTE) or temporary employees. Take all recruitment and employment costs into account and you will appreciate the efficiency of IM. You may pay your employees for turning up for work whereas IM can be remunerated against set objectives and delivery. (Consider the cost if you make the wrong choice of FTE and have to go through a lengthy, disruptive and expensive exit process!)
- Speed. Senior Interim Managers are readily available for Supply Chain tasks. You do not have to waste time going through a lengthy search and selection process with a fee-taking headhunter.
- Expertise. Interim Managers are usually seasoned professionals with deep operational experience. A vast majority will have successfully held senior roles in blue-chip organisations for long periods. No training is required; you get a “vertical start-up”.
- Objectivity. Interim Managers are able to look at a given situation with a fresh set of eyes and will not be afraid of “treading on toes” or telling the boss there is a better way!
- Accountability. Interim Managers are not there to advise. They are in place to handle a specific project or a department in transition. Unlike full time employees they are very comfortable at being rewarded (or not) based on black and white objective achievement.
- Effectiveness. Possibly the most obvious contribution of IM. Once the Board has given a mandate to carry out a task, the IM will get on and do it without struggling through a bout of inertia. “Just Do It” sums this up nicely.
- Commitment. Interim Managers remuneration means they have a direct financial stake in the assignment. They are not there to make friends or pave the way for recruitment. They wish to do the job well, get paid and move onto the next challenge.
If you have a difficult job to be done within a defined timetable and you do not currently have the resources in-house you should consider the value an Interim Manager can bring both to yourself and your organisation. Gaze into the future and see what tough jobs need to be done well now to ensure you are ahead of the game.
Image credit : CELALTEBER