What are the advantages and disadvantages of working as an Interim Manager?

MAWUncategorised

There are a number of advantages Interim Managers have over other career options. Here are some of the most important advantages:

  1. Varied work: Interim Managers have the opportunity to work in different industries and companies and thus gain a wide range of experience and knowledge. This offers a dynamic and varied working environment.
  2. Challenging tasks: Interim Managers are usually hired for challenging projects and problems where their skills and experience are in demand. This allows them to expand their skills and knowledge and take on new challenges.
  3. Flexibility: Interim Managers have the opportunity to choose their own working hours and projects. They can manage their workload and have greater autonomy than traditional employees.
  4. Higher remuneration: Interim Managers can generally earn higher salaries and fees than traditional employees. This is because they are paid for the specific skills and experience they bring to the table for a limited period of time.
  5. Networking and career opportunities: Interim Managers have the opportunity to expand their network by working in different industries and companies. This can help to find new career opportunities and projects.
  6. Fast career change: Interim Management enables experienced specialists and managers to quickly switch to a new industry or position without having to go through a lengthy familiarisation process. This can enable them to advance their career more quickly.
  7. Self-realisation: Interim Management gives experienced specialists and managers the opportunity to contribute their expertise and experience to challenging projects and tasks and make a measurable difference in the process. This can lead to a high degree of personal fulfilment and self-realisation.

The link between Interim Management and burnout has already been analysed in a previous post described.

However, as an Interim Manager there are also some disadvantages that should be considered:

  1. Uncertainty about future projects: Interim Managers are usually reliant on projects or temporary assignments. When a project ends, they have to start looking for a new project. This means that there may be times when they are without work, which can lead to financial uncertainty.
  2. Limited employee retention: As Interim Managers usually only work for a company for a limited period of time, they may not have the same bond with colleagues and clients as permanent employees. This can affect work results.
  3. Frequent travelling: As an Interim Manager, you may be required to work on projects in different locations. This can lead to frequent travelling and missing time with family and friends.
  4. High level of responsibility: Interim Managers are often responsible for delivering positive results in a short space of time. This can lead to a high level of stress.
  5. No company pension scheme: Interim Managers usually work as self-employed or freelancers and therefore do not have a company pension scheme. This means that they have to take care of their own pension provision.
  6. No fixed salary: Interim Managers usually receive a daily or project fee and therefore have no guarantee of a fixed salary. This can lead to financial insecurity.

These disadvantages should be taken into account when deciding to work as an Interim Manager.