Economic slowdown, supply difficulties, chip shortages, war, inflation, and labour shortages - just some of the challenges that are global in scope and have a significant impact on even the smallest companies. Any company can find itself in a situation from which it cannot recover on its own, and needs external help. If there is a shortage of managers and experts, an interim manager can be an excellent solution, bringing in an experienced manager to join the team for a transitional period to help overcome the difficulties and changes. However, it does matter where and how this ‘saviour’ comes in.  If you find an interim manager with the help of an intermediary, you can be sure that the company will be in professional hands. In which situations should you bring in an interim manager and why should you choose an intermediary? That's what this article is about!

Interim manager in transitional situations

An interim manager is a transitional manager who typically has decades of experience, in-depth industry knowledge and an extensive network of contacts. These can be used to guide the company through changes and difficulties. Interim management is a fast and effective way to temporarily replace middle and senior managers and experts.

It is essential to be aware that the interim is not an employee of the company, outside the hierarchy, but a kind of external manager, working from within the organisation. This also means that they do not want to move up the ranks. He is not driven by personal career development, but by completing the tasks assigned to him and achieving the goals set at the beginning of the collaboration.

The interim and the consultant mustn't be the same. While the consultant assesses the situation, analyses it and outlines the possible solutions, the interim goes further: his or her aim is also to implement them.

The Interim Management Report 2023 showed that the automotive, IT and pharmaceutical industries are the most frequently hired interim managers. The picture is varied in terms of tenure, but 6-12 week terms are the most common. The research also looked at the financial implications of hiring interim managers, with an international average daily rate of €950. This should be seen as an investment that pays for itself several times over and is a fraction of the damage that can be caused by the absence of experienced professional management.

3 situations when hiring an interim is the best decision

There are many situations where reliable and effective assistance is needed and the involvement of an external expert or manager is the most appropriate. Here are some of them!

Gap management

Gap management is the most common situation. We talk about it when there is a temporary shortage of resources. The reasons can be many and varied, such as the unexpected resignation of a manager, accident, sabbatical, or maternity leave.

Crisis management

Crisis management, crisis management is needed in the event of a crisis when the necessary knowledge and experience are not available within the company. This could be, for example, restructuring, change of organisational culture, liquidation or when the company is close to bankruptcy. The interim can help to make the best out of difficult situations and minimise losses.

Project Management

It is very common for an interim manager to be entrusted with project management. Sometimes extra resources and knowledge may be needed for a single project. Such a situation could be, for example, an acquisition, a sudden growth, a merger, or a generation change in a family business. Expert management can also be classified here, when a certain expert with specific knowledge is needed, for example in the case of venture capital, and business development, but it is also not uncommon for the interim to act as a coach for a talented young management candidate.

How does this work in practice? In our case studies, we also give examples of crisis management, project management, GAP management, and corporate process optimisation!

More than just extra manpower

The involvement of an interim manager adds value. No other solution, for example, can offer the speed of an interim: up and running in a few days and delivering results immediately. Thanks to the fact that the interim has already reached the peak of his career, he has experienced a wide range of situations and can react professionally to any situation. He knows what pitfalls you might face and how to guard against them.

An additional value is that it represents efficiency. This also manifests itself in the ability to make leadership decisions, i.e. to make a real difference. He is committed to quality work and high standards to the core, which is understandable, as his position means he cannot afford to make mistakes.

Directly or through an intermediary?

The latter is the obvious choice! Many people, after realising the value that the involvement of an interim manager can bring to the company, decide to take the "cheaper" route and hire an interim manager directly. However, this does not always lead to success. Hiring an interim does not cost the company little, but if you miss out on the intermediary, you may save some money, but this is negligible compared to the risk you are taking. After all, if we don't choose the right interim or if the collaboration doesn't work, every day's fees are wasted. Companies that specialise in interim managers work with the best, so the manager has less of a burden in selecting them, as they offer professionals who are proven performers.

If you work with an intermediary, you can be sure of a return on your investment. Even the selection of the interim is smoother! By getting to know the company, the interim provider can recommend a manager who is best suited for the job in the company culture. At Interim Ltd, we typically recommend several candidates from which the client can choose. Pre-screening is carried out so that unnecessary time is not wasted on irrelevant candidates.

At our company, we make sure that everything is done in the best possible way. We do this by providing a project manager alongside the interim manager to monitor the project and help ensure effective collaboration. This ensures that the goal is the top priority and that no processes go astray.

There may be situations where a lack of collaboration makes it difficult for the interim and the company to work together. Interim Ltd. guarantees these situations and offers the possibility to replace the interim. You do not have to start from scratch, the new interim can pick up the thread.

Interim Ltd. has been a leading player in the domestic interim market for 20 years. We work with excellent professionals and experienced managers who are dedicated to helping clients achieve their business goals.

Request our free consultation and we will help you find the most effective solution