Are you temporarily missing key people in your team? Do you need additional expertise to tackle a specific business problem? An interim manager might be the solution for you.
Here we explore the main benefits.
1. Interim managers are cost-effective
Let’s be honest: an interim manager comes at a price. But that investment pays off. In most cases, the knowledge and expertise you gain by hiring an interim manager are worth the cost. Another point worth remembering is that permanent employees are not cheap either.
When comparing the cost, make sure you take the following into account when adding up how much a permanent employee costs:
- Start with the gross salary of an equivalent manager on the payroll,
- add the holiday allowance and end-of-year bonus,
- consider fringe benefits, such as a company car, meal vouchers, insurance, etc.
2. Interim managers offer immediate return on investment
Interim managers are experienced, so they don’t take long to settle in and start achieving tangible results.
And because an interim manager is, by definition, temporary, you don’t need to worry about notice periods or redundancy costs when the job is done.
“Interim managers offer immediate return on investment.”
3. Recruiting an interim manager is easy (with a little help)
Recruiting an interim manager by yourself is time consuming and difficult. Alternatively, you can work with an interim management firm like 4P square, who do the hard part for you. They search for and shortlist candidates, and deliver a curated list to you.
4. Interim management talent hunting is free of charge
Interim management firms only gets paid when you sign an interim project with one of their interim managers. No project means no pay. In other words, there are no up-front fees to have an interim management firm search for the right candidate.
5. Interim managers are fast and flexible
If you want an interim manager today, they can start tomorrow. That is, if you choose the right channels and partners to help you find your ideal candidate.
When you team up with an interim management company, you eliminate the drawn-out process of selecting and interviewing numerous candidates.
So how does it work?
Interim management recruiters take the recruiting process out of your hands. You simply provide them with the profile you need, and they do the necessary to provide you with a shortlist. Then you select the candidates you wish to interview, pick your favourite and off you go. Your interim manager will start the next day.
6. Interim managers get the job done
When you’re missing a key person or expertise in your team, you’re essentially failing as a company. The quality of your service might be impacted, leading to unhappy customers Or you may be falling short of your business goals. In the end, your bottom line suffers. Therefore, it makes sense to invest in an interim manager who gets the job done.
Interim management can even be the right solution when you need to fill in a permanent vacancy – while searching for the right candidate, an interim manager can take over quickly, keeping the business running as usual.
7. Quality boost for your team
Hiring an interim manager can bring an immediate boost to your team, with existing team members benefiting from their expertise. Interim managers are experts in their field of work, and often have relevant experience in your industry.
Interim management firms ensure that their interim managers offer the highest quality service by supporting their development and offering continuous trainings in their area of expertise. Interim management companies even mentor and coach managers throughout their entire career.
The knowledge and expertise of an interim manager will benefit your company as they bring new and fresh ideas to the table.
8. Strategy and implementation in one
Unlike a strategic consultant, an interim manager goes beyond advice. Interim management firms offer you an expert who can first develop the right strategy, and then implement the solutions to bring you tangible results.
“Unlike a strategic consultant, an interim manager goes beyond advice.”
9. Gain access to a network of knowledge and expertise
When you team up with an interim management firm you gain access to an entire network of knowledge and expertise. So even if your interim manager needs support with certain skills, he or she can rely on the network of other interim managers.
10. Knowledge that lasts a lifetime
Your team will still be reaping the rewards long after the interim manager has left your company. The experience and knowledge an interim manager brings to the table has a lasting effect.
4P square as your interim management partner
4P square goes beyond interim management recruiting. Simply tell us which profile your team is missing, and we’ll find you the perfect interim manager for your team in no time.
During the entire process, your 4P square account manager is your single point of contact. It’s their job to make sure everything goes as planned and that everyone is satisfied.
Strengthen your team to meet deadlines, bridge vacancies, or supply or replace key people and expertise.