Development of the Interim Management Sector and How to Successfully Engage Interim Managers

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Before we explore the successful use of Interim Management it will be informative to explore the background and history of this rapidly increasing management solution.

The concept of interim management is commonly believed to have originated in Holland through the 1970s, when employees were protected by long notice periods, so businesses experienced large costs when they desired to terminate an employee. Thus the practice of hiring managers on an interim basis was developed as being a cost effective answer with the changing needs of businesses.So what is Interim management? It is the use of leading, skilled directors and managers on a fee and predetermined term basis to realize a high impact on particular roles or objectives. Interims are skilled professionals operating at a high level, logically over-qualified for the assignment, and in a position to bring a breadth of skill and skills to facilitate prompt results. They are typically used at short notice for brief and medium term high impact roles, and can incorporate the roles of consultancy and project management, setting up and implementing change, so ensuring flawless delivery and full accountability.

Interim is an effective option when a business needs extra resources and or expert skills at short notice. Commonly interim assignments fall into 2 types, gap-filling, in situation of, say, maternity leave, promotion, notice or long term sickness, and project management, helping the customer achieve change, such as rationalization, MBO, IT systems upgrade, transnational process re-engineering etc.

Interim Management is distinctive from consultancy, as interim managers work in hands-on roles, where they are part of the client's management team, while consultants are simply advisory; however, most senior interim managers possess the knowledge and skills to combine the two roles by both designing and implementing the solution. The combination of both roles is particularly effective since it avoids any interface and communications issues while expediting the project - thus saving time and bringing the benefits of the project in earlier.

Operating on a contract basis, and are either self-employed or work through independant 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're responsible for their arrangements for holiday, pension, medical health insurance etc, and will normally carry professional indemnity insurance.

At this time Interim Managers are taking full advantage of the recession. They are an experienced, mobile 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".

It is vital if you're considering using Interim Management as a critical business solution that you just follow the following simple guidelines;
Establish a clear assignment brief with unambiguous project deliverables. If you're uncertain how to approach this first step we can offer you guidance on producing a sound interim assignment brief.

Ensure you have a sponsor for the project at a senior level within your organisation. Interim management projects that do not have a senior sponsor within the organisation are more likely to fail in the delivery of key objectives.

Have an assignment briefing with the interim service provider prior to their engagement and ensure that you list the key objective and the scope of any assignment.

Have a frank conversation with the provider about day rates and a practical budget plus an outlined timescale for your project.
Ask for terms and conditions and ensure that any contract contains detailed schedule of objectives and pricing.

Charge your service provider to offer you a shortlist (two to 3 candidates) of properly over qualified and experienced interim managers.

An effective service provider will keep in regular contact throughout an assignment and should be willing to resolve any issues that could arise during a project.

Do you have that self-determining streak that makes you want to own and run your individual interim management business? Do you have that personal credibility and self-confidence to tackle problems and quickly produce options, and the inter-personal skills and authority to implement those solutions, all in what will be, to you, a new interim management operating environment. For anyone who is considering a career in Interim Manager then please do visit our website and particularly our advice page on establishing a successful Interim Manager career.

Article Source: http://depositarticles.com/

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