Interim management has become increasingly popular over the past decade. But what is it exactly that an interim manager does? What sets them apart from a strategic business consultant, and why might a company prefer to hire an interim manager rather than a permanent employee? What about the costs and the hiring process?
What is an interim manager?
An interim manager is an experienced executive who takes the lead in a business process ad interim, i.e. temporarily.
Interim managers usually stay with an organisation for around three to six months, after which time they move to a new client and/or assignment.
Unlike business consultants, interim managers are hands-on implementers as well as strategists, so they actively put in place solutions to reach your goals.
What are the benefits of hiring an interim manager?
From a corporate perspective, there are several advantages to hiring an interim manager:
- Immediate return on investment – interim managers hit the ground running and can fast-track critical projects.
- Hands-on approach – unlike consultants, interim managers are implementers as well as strategists.
- The expertise you need, when you need it – interim managers can be in place in days, as opposed to weeks or months searching for a permanent employee.
- Independent viewpoint – your interim manager provides a fresh perspective and is not caught up in office politics.
And that’s not all. Take a look at the 10 main benefits of hiring an interim manager.
How much does it cost to hire an interim manager?
Of course, all these benefits come at a price. There’s no denying that interim managers aren’t cheap. In fact, overall they’re more expensive than permanent employees. And yet interim management is soaring in popularity. Why? The indisputable added value interim managers bring to the table makes them the cost-effective option.
Want to see how an interim manager can fit within your budget? Discover how much it cost to hire an interim manager.
How easy is it to hire an interim manager?
The war for talent wages on. And finding the right interim manager can be quite a challenge if you are determined to do it alone.
However, specialised interim management companies like 4P square make the process much more efficient and cost-effective – they do all the hard work for you by finding the perfect match. Find out about the process of hiring an interim manager.