I have to admit Interim management is something that I have not recruited for in my recruitment career and therefore is a subject I know little about. However after reading a news article on Interim Management Jobs, I thought it would be a good excuse to finally understand the differences.
While researching this market I realised that it was a fascinating sector of recruitment and could be described as the “search and selection of the temp/contractor market” rather than what was previously seen as the dumping ground of the over 45’s!
What is interesting is that the majority of Interim Management Jobs would be filled, not necessarily via recruitment companies, but by the interim manager themselves. This I suspect is because they are either networking at a senior level or are known by a number of Private Equity companies who understand the difference they can make to their portfolio of businesses.
None the less recruitment companies are an important link in the chain for companies to find the right manager, but again consultants need to be able to deal at board room level, otherwise they will not be privy to any changes a client may want to implement.
The areas where Interim managers are required tend to be related to a change in direction or a new product being developed, where the skills needed are not in house. The advantage of course to the client is that the Manager can focus on that task and not get involved in office politics, thereby ensuring the project is completed on time and within budget. More importantly the manager will be able to advise the client honestly whether it’s feasible and what changes are needed to ensure success, because he or she is not concerned about job security, promotion etc., which in turn will mean the CEO can be more frank with the manager and vice-versa.
Being an Interim Manager can prove to be quite lucrative, with the average daily rate at around £650 making it quite profitable for the Recruitment agency and when it all goes to plan, the CEO can take all the accolades from the shareholders!
But what is fascinating are the effects of recruiting quality Interim Manager on business, like in the case of West Sussex hospital who employed an interim manager and managed to save 1 million in costs or the when it goes pear shaped as in Leicester .
And they are often are used in the field of sport as in Middlesbrough FC , mind you we all know how fickle it can be in football!