Why Interim Management?
Interim Management refers to a management practice in which experienced managers are temporarily introduced into an organisation or company to take on specific tasks or projects. These managers, also known as Interim Manager or Temporary Managers, are usually hired for a limited period of time, typically a few months to a year.
Interim Manager (temporary manager), flexibly deployable executives, are deployed at short notice to bridge vacancies, in times of crisis, for project management or as specialists.
They absorb management bottlenecks, bring in an external view and thus provide companies with a competitive advantage.
There can be many reasons for using Interim Management. These include, for example:
- Management gaps: If a key position in the company suddenly becomes vacant and a permanent appointment is not immediately possible, an Interim Manager can fill this gap.
- Change management: During major reorganisations, mergers, acquisitions or other change processes, an Interim Manager can be hired to manage the change and ensure that the business objectives are met.
- Project management: If there is a specific project for which the existing management team does not have sufficient resources or expertise, an Interim Manager with the necessary skills and experience can be brought in.
- Crisis management: In situations where a company is facing a crisis, an Interim Manager with experience in crisis management and restructuring can be called in to get the company back on track.
The Interim Manager usually brings a mixture of extensive industry experience, management expertise and a clear focus on the goals to be achieved. Once the assigned task has been completed, the Interim Manager withdraws from the organisation.
This form of management offers companies flexibility and the ability to react quickly to short-term challenges or opportunities without committing to long-term personnel costs.
Interim Managers assume responsibility for their work in a line, specialist or project function. They leave the company as soon as the problem has been sustainably solved and the existing organisation has fully taken over again.
Rahmenbedingungen
An Interim Manager typically works under the following conditions:
- Bottleneck of a quantitative or qualitative nature on the customer side
- Temporary assignment
- Assumption of a position in the first or second management level with authority to issue directives
- Assume a role as total or partial project manager
- Coaching of executives
- Reports to the Board of Directors or Executive Committee
Clients (companies, organizations) value the following aspects of Interim Management in particular
- the short-term availability of external managers,
- the efficient and fast onbording process
- the timely implementation of upcoming projects.
Interim Management is particularly usefull
- when getting companies or parts of companies into shape
- in the opening up of new markets
- for Turnarounds
- for corporate restructuring
- for controlling and implementing complex projects
- for bridging vacancies.
In addition, clients can also source specific expertise via Interim Managers.
Overall, Interim Management has become an important part of the corporate landscape in recent decades. The importance of Interim Management is likely to continue to grow in the future as companies increasingly rely on flexible solutions in order to be able to react quickly to changes.