Interim Management: an interesting opportunity for businesses

There has been a lot of talk recently about interim management, or flexible management, and there is a great deal of confusion about what this service is and how it works.

Interim management is a service provided to companies by highly experienced executives to meet a specific need or manage a particular project, or to oversee a period of transition, change or development within an organisation for a fixed period of time.

There are firms in the market dedicated exclusively to providing these interim management services, which offers assurances to both client companies and the executives themselves.

The executive must be a senior manager, with a proven track record and more than 18 years’ experience in business management or in a specific field. The average duration of this type of service ranges from 6 months to 2 years. The aim of the service is to address a specific need or particular situations faced by organisations, such as the temporary replacement of a senior executive, change management, developing new business or expanding into new markets, managing business growth, and consolidating and professionalising a start-up.

Working as an interim manager is very different from being a permanent employee in a company. As the name suggests, it is a ‘temporary’ arrangement, with the advantages that this entails. To be an Interim Manager, in addition to the necessary experience, knowledge and common sense, a set of personal values is required, such as responsibility, efficiency, objectivity, commitment, sincerity, empathy and the ability to understand the client. These values are key to successfully engaging in this type of service.

There is a growing trend towards these interim management services. On the one hand, for executives who are no longer affiliated with companies, it offers a new professional opportunity in which they can contribute their experience and knowledge; and on the other, for the client companies using these services, it delivers tangible results. There are many case studies of companies that engage these services, and the rate at which they return to use them is growing

Interim management services, or flexible management, are provided by a team of qualified professionals who integrate into organisations, offering innovative solutions and implementing them swiftly and effectively. This service is provided by professionals from outside the company; as such, they view the situation from a different perspective, bringing objectivity, fresh insights and efficiency to resolving the problem.

The relationships between the client company, the firm providing the interim management service and the manager are based on commercial contractual arrangements.

Interim managers are undoubtedly an excellent solution in difficult situations, providing a strategic advantage when faced with new problems or those for which the company does not have a professional capable of managing them successfully.

The financial aspect of the service is an advantage for the company as it does not constitute a fixed overhead. The fee is agreed in advance, based, amongst other factors, on the complexity of the work to be carried out, the level of seniority required and the duration of the service, which clearly sets out the cost to the company. Payment is made via a monthly invoice and is based solely on time worked: there are no holidays, leave or training costs…

The profitability and return on investment for companies engaging interim management services are proven. The return on investment is clear and tangible. The value generated by these managers is significant, and clients’ expectations are far exceeded, as demonstrated by satisfaction surveys conducted after the services have been provided. An interim manager works with 100 per cent focus on the established objectives and expectations, which guarantees results and ensures high productivity and strong commitment. The level of savings achieved through this service is several times greater than the cost involved, with the added benefit that the cost is temporary, whilst the savings remain with the company.

The fact that this service is provided by external professionals facilitates rapid integration and smooth, full collaboration from the rest of the organisation’s management, who do not view the interim manager as a rival in their career, but rather as someone who is there to help and collaborate. By providing an external perspective, they also become a key agent of change and inject new dynamism into the company.

Further advantages of these services for clients are that representatives from the interim management firm maintain constant dialogue with the managers of the client company to resolve any issues that may arise. Through this close relationship, it is possible to refocus the service, rectify any issues affecting the executive’s performance, or even replace the executive at no cost to the client.

The benefits that this professional approach brings to companies are therefore clear, and this is what is driving the boom and growth in our country.