Where can Interim Managers be most effective?

1. Managing periods of transition
Organisations go through periods of change for many reasons including: challenging market conditions, the acquisition of significant new business, the introduction of new technology, even changing government legislation will affect working practices.
Following a review of working practices, there may be need for change which may cause concern amongst the workforce.
New to your organisation – unfettered by compromising loyalties and allegiances but able to call on a wealth of relevant experience – an independent interim manager is free to focus on what's best for the company.

2. Project management
In the current economic climate, Public and Private Sector organisations lacking the specialist skills to manage a major project – and unwilling to increase headcounts or take staff from other urgent work – turn increasingly to interim management to provide the short-term expertise they need.
Contracting with an Interim Manager for the duration of a project enables companies to acquire a highly qualified professional with a wealth of relevant experience who can identify and deal with any risks and issues and deliver all objectives on time and on budget.
Before the project's completion, the Interim Manager will have ensured that all relevant knowledge has been transferred to the organisation’s staff.

3. Leading innovation and development
Interim management embraces a comprehensive range of professional disciplines, many of which have multi-sector applications. For organisations looking to develop innovative new products or services who require specialised expertise that falls outside their in-house skills, interim management can be the perfect solution.

4. Crisis management
Interim managers are often tasked with turning round a failing business – or re-focusing an organisation that has lost its way. Sometimes the requirement is simply to hold the fort – but at very short notice.
Where a senior executive resigns from an organisation or is absent for a prolonged period of time and no one from the existing management team has the experience to take on the role, an Interim Manager can usually be appointed within days. Under sound financial control, the business continues to move forward, seamlessly – dispelling anxiety amongst shareholders.
Ultimately, the Interim Manager can help to recruit a successor or mentor one of the existing management team, preparing them to take over the role once the interim assignment ends.

5. Corporate restructuring
Directors of organisations undertaking an MBO, an IPO or, for that matter, a merger or acquisition, have often had little hands-on experience of corporate restructuring or dealing with the host of potential staff, resource and location issues that so often accompany it.
Without someone on-board who has successfully managed this scenario, organisations can be exposed to significant risk.
Armed with the relevant commercial and strategic skills and importantly, recent experience – an Interim Manager ensures immediate access to the knowledge and understanding required to avoid the many hazards awaiting the unwary and steers the process safely towards a successful conclusion.
During an acquisition or merger, an Interim Manager's independent status can be helpful either during negotiations – or where there is a degree of rivalry amongst incumbent senior executives.
Where no managers exist with the appropriate skills and experience to take immediate control of a new entity, an Interim Manager is ideally qualified to undertake the day-to-day running of the business, until a suitable CEO can be found and appointed.

 

IMA Institute
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Added: 13/08/2009

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