Temporary management / interim managementBecoming faster, always aiming for more, reacting to markets at short-notice and remaining flexible and adaptable – The retail, logistics or finance industry have long since recognized these developments in sales and responded accordingly. However, this “new” mindset no longer only affects sales departments. Interim management is an exciting solution and alternative for many companies today when it comes to short-term replacements, larger and complex projects or start-ups.
When is interim management advisable?
Regardless of their size and focus, companies regularly run into organizational bottlenecks and lack highly specialized expertise. Topics such as digitalization, change management, restructuring and reorganization or rapid growth situations often increase a company’s need for good expertise at a very short notice. This is where the use of an interim manager solution can be helpful, for example as a project specialist to structure and bundle internal processes, to initiate progress and developments or also to ensure operational activities in the event of staff shortages. In recent years, experts for digital transformation have been in high demand but also HR and finance specialists.
In phases with rapid growth, entrepreneurial support from experienced external advisors can be particularly valuable. On the one hand, they can neutrally assess the company, its condition and its strengths and weaknesses. On the other hand, they can contribute and apply their experience and management know-how concerning dynamic development situations in a solution-orientated manner for the company.
This is of key importance because additional entrepreneurial tasks and new challenges will inevitably arise from the growth situation, requiring a good solution and quick response from qualified managers. In such extraordinary situations, a company often needs at short-notice additional know-how on previously unknown tasks and topics, such as the search for investors, the planning and implementation of investments, cash management issues, the design and (re-)dimensioning of processes, but also sales and marketing strategies in dynamic markets.
What added value does external support offer me?
In addition to their technical know-how, interim managers are often also capable generalists with many years of experience in project management or have been working in upper management positions. This is particularly interesting because the agility of an interim solution can be a great added value for the company. Financially, such engagements are also an exciting option for the employer. There are no lengthy recruitment costs, which could quickly lead to high sums, especially in top management assignments. Moreover, apart from the agreed daily rates, there are normally no additional wage demands by the interim manager. Fixed and ancillary wage costs are also usually not incurred. On the other hand, the team can benefit from additional resources, long-term and cross-sectoral knowledge and the possibility to initiate a know-how transfer.
Is hiring an external manager a lengthy process?
The best thing about an interim solution is that it allows for a quick entry and, if desired, an equally quick exit from a project or company. The company can therefore react flexibly if, for example, a permanent staff solution has been found. In principle, it is up to each client how an assignment is described in terms of content and time and which requirements have to be met.
We are happy to assist you in finding such an interim solution in the areas of finance and HR and to advise you comprehensively on the profile options and requirements you are looking for.
May 27th, 2021
