Skip to main content

Interim manager: there are no unsolvable problems For the interim manager, there is no insoluble problem. He is a prepared, experienced manager who is available when his expertise is needed.

Interim manager: there are no unsolvable problems

"Do what you can, where you are, with what you have, and never mind the rest," said Theodore Roosevelt, the 26th President of the United States, referring to the power of action over imagination. While this cannot be disputed, certainly, one of the most famous figures in history was not familiar with the concept of interim manager, and if he had been, he would not have linked his actions to the criterion of availability. Indeed, there are situations where help comes from an external source, as in the case of interim management. The interim manager is an external helper who is not an integral part of the company and is therefore unavailable when the problem is identified. However, by bringing him in, he brings a new perspective and new professional knowledge into the company's life, which can be used to unravel the difficulties hindering its development and growth. Every company has a "knot" that the interim manager can untangle.

In every company, there is a problem that cries out for an interim manager

The problem is the gap between the current and the desired state, and we talk about problem identification when it becomes obvious. To identify the problem, it is essential to assess the existing situation and determine where we want to go.

There are problems in every company's life, some that can be solved easily in a few steps and others that require a long investigation to unravel. That's where interim managers come in, with decades of professional experience to dig deep into situations and unearth the real root causes.

What is the power of interim managers? In the rest of this blog post, we'll explore the topic from several perspectives: who is an interim manager, when to turn to them, what misconceptions are out there, how to choose the right one for your company, and why it's worth working with an interim provider!

Who is an interim manager and when do they come up?

An interim manager is an experienced senior professional who uses their specific knowledge and diverse experience to help companies overcome business challenges. A corporate "superhero" who quickly identifies problems, develops targeted solutions and implements them. 

They typically take on strategy development, crisis management or organisational development tasks. Their role is not limited to advising - they are also actively involved in implementation, ensuring that the objectives set are met. If you are unsure of the concept, check out our one-pager summary!

Interim manager in the numbers

INIMA, the International Association of Interim Management Service Providers, regularly surveys the industry and has done so again this year. The survey is covered in detail in our blog post The world of interim managers: the INIMA Annual Survey2024, from which we have selected some interesting facts to demonstrate how interim management should be conceived in practice.

According to INIMA's research, interim management is a growing and dynamic sector. The average length of interim assignments is 8-9 months but projects longer than a year are becoming increasingly common. Most interim managers are employed by manufacturing companies, service companies and financial institutions. The presence of interim professionals in IT, telecoms and healthcare is prominent.

 

Yes to an interim manager

There are many situations in the life of a company where hiring an interim manager could be the answer. These can include an unexpected departure of a manager, a complex project requiring specialist expertise, the establishment of a new business area or a problem that has been complex for years and can no longer be postponed.

Interim managers are a fresh set of eyes, looking at the company's situation from an external perspective. Their experience allows them to quickly identify areas for improvement and develop an effective action plan. Their objective, impartial approach can also be an advantage in delicate situations such as an acquisition or reorganisation.

Working with interim managers offers many advantages for organisations. In addition to providing access to specialised knowledge, it increases the competitiveness and flexibility of the company.

The question may arise when to choose an interim manager, for example, instead of a fixed-term contract. Whereas a fixed-term contract is a manager who is employed as an employee, an interim manager works with the organisation as an external partner, a contractor.

The interim assignment is more flexible and can be more easily adapted to company needs. Interim service providers are interested in achieving results, but at the same time, assignments carry a higher hourly rate than the fixed monthly salary of a fixed-term contract.

Fixed-term contract or interim assignment: when to choose? - Read more on the subject in our previous blog post!

Quality assured

As an interim service provider, Interim Ltd. places particular emphasis on quality and customer satisfaction. With this in mind, we have drawn up our code of ethics.

The Code of Ethics for Interim Managers is a guiding set of rules that sets out the professional and ethical expectations of interim managers.

The Code of Ethics requires, among other things, that interim managers must always have the client's best interests at heart. They must carry out their duties to the best of their ability and with integrity, avoiding conflicts of interest. They must strictly respect the agreements with the client, the rules on remuneration and confidentiality.

All these rules are also a guarantee for clients that they will receive a professional and ethical service. The Code of Ethics contributes to the quality of interim management services and the preservation of the reputation of the profession.

The concept of interim management is becoming increasingly familiar in Hungary, but experience shows that there are many misconceptions about it. Let's find out!

Misconceptions about interim managers

Interim management is a dynamically developing profession, and sometimes there are still misconceptions about it. Many people think that interim managers are just "jumping in" to a position and not doing any real work. In reality, however, interim managers are highly experienced, prepared managers who can quickly see through the workings of an organisation and find effective solutions to the challenges it faces.

Another common misconception is that interim managers are "too expensive". The truth is that although their hourly rate may be higher than a permanent employee, flexible employment means that the client only pays for the hours worked. In addition, the expertise and targeted problem-solving of the interim manager can give the company a significant competitive advantage in the long term.

Some people believe that interim managers are "disloyal" to the organisation. However, it is important to stress that interim professionals are fully committed to the success of the company during their assignment and that they put all their knowledge and experience to work to achieve the objectives set.

Find out the 5 most common misconceptions about interim management - Read our blog post!

How to choose the right interim manager?

There are two main criteria to consider when choosing an interim manager: professional competence and personal qualities. In terms of suitability, the key factors are the right qualifications, industry experience and the competencies required for the job. At least as important is a review of the interim manager's previous successful assignments and a reference check.

Besides hard skills, and personal qualities, the so-called soft skills, deserve special attention. A good interim manager must have excellent adaptability, as he or she must be able to integrate quickly into the organisation and work effectively with the people working there. A high level of communication skills is essential, including both good presentation skills and persuasive argumentation. In addition, the interim manager must be an effective leader, able to motivate and direct the company's subordinates to achieve the objectives set.

What other factors should you keep in mind? We've summarised them in our Interim manager: these 7 success factors to consider when choosing!

There are two ways to engage an interim manager: directly and through a service provider. Let's see why you should choose the latter!

Work with an interim service provider!

While it may seem tempting to hire an interim manager directly, there are many advantages to using an experienced service provider instead. An interim service provider has extensive contacts and thoroughly vetted professionals, so you can find the best candidate for the job more quickly and with greater certainty.

The service provider's decades of proven track record ensures that you get the right interim manager with the right skills and experience to fit in seamlessly and hit the ground running. This saves the client considerable time and effort while ensuring a quality service.

The interim service provider also helps to ensure smooth cooperation throughout the project. We list more benefits in our blog post Interim manager only from a service provider!

Work with Interim Ltd!

As a leading player in the domestic interim management market, Interim Ltd. has been solving its clients' complex problems for more than two decades. With our help, you can quickly find the most suitable experienced manager for your company, whether it's project management, crisis management or even restructuring your company.

 

Our team of experts will find the best solution, tailored to your specific needs. Over the years, many satisfied clients have proven our expertise and reliability. Our success stories include ramping up the relocated production of a food company, successfully bringing a medical technology start-up to market and crisis management for an automotive supplier.

If you want to work with the best, choose the quality services of Interim Ltd.

Previous posts

Career change: should you change? - Lessons from the EmpowerHER conference roundtable discussion
BANI instead of VUCA?
Generational change - time to do it right
Change management: preparing for the future
Change management: who is responsible and what is the role of interim managers?
The first step in problem-solving: Diagnosis
Rethinking the business model: a continuous must for CEOs
Improving communication: the power of good leadership questions
The world of interim managers: the INIMA Annual Survey2024
Corporate Crisis Management