It has long been accepted that speed rather than size is the key factor in business success. Agility and responsiveness are key to business success and survival.
Interims are experts in their field and can give key change projects immediate impetus. They increase the strength and depth of the senior management team to support change, provide expert project direction and momentum, rather than the business trying to manipulate the skills of existing employees to fit project needs. In addition, interims are usually available within days as opposed to weeks or months and carry none of the long commitment required in hiring a permanent employee.
Unlike consultants, who tend to offer expert advice interims consult, plan, advise, implement and embed the lessons before concluding their assignments. They operate outside any company politics, which might impede project success and offer no threat to incumbents. They offer a fresh and unbiased view, constantly assessing the business benefit rather than personal gain.
IN WHAT CIRCUMSTANCES IS IT APPROPRIATE TO USE AN INTERIM?
Typically interims will be brought in for key programmes and projects including:-
- Change Projects
- Turnaround Management
- Business Improvement
- Crisis Management
- Strategy Development
- Coaching internal candidates for succession
- Business Acquisition or Sale
- Cultural change
- Entry to new markets/ Product launches
They cover a wide range of senior executive disciplines including:-
- Risk Specialists
- General Management
- Industry Specialists
- Sales & Marketing
- Lean & Six Sigma Specialists
- Project/Programme Management
- Change Management Specialists
- Procurement & Supply Chain
- IT & IS
WHERE CAN I FIND AN INTERIM?
The interim community in the North is growing; you can find interims in the following ways:
- Personal referrals – ask members of your own network for recommended referrals
- Institute of Interim Management at www.iim.org.uk
- Interim Providers – a number of specialist recruitment companies are available in the North - check out the latest IIM survey for the most recommended -
- Interims North – email@example.com
- LinkedIn – use key word search within advanced people search
HOW MUCH WILL IT COST?
An interim does not attract any of the long-term costs and commitment associated with permanent employees, such as NI, holiday & sickness pay or other benefits. Expect to pay an agreed daily rate to a limited company, which includes all necessary insurances.
Typical rates are around £600-£900/day, but can start as low as £400 and rise to over £2,000.
The increased speed at which an interim led project runs means that the ROI is typically substantially greater than in-house projects where lack of experience, internal politics and pressure of BAU all tend to hamper progress.