By Rachel Frankland
The professional interim management market is enjoying rapid growth, driven by a burgeoning cycle of business transformation programmes across all industry sectors.
For a multitude of reasons, companies both large and small are increasingly turning to professional interim managers to help steer them through organisational change – with a particular drive for digital transformation and customer experience programmes.
These are experienced business leaders who can also provide stability following the sudden departure of a senior director, or offer a highly specialised skill set which a business may not have in-house.
Their appointment is an effective way for companies to achieve business objectives and obtain highly specialised leadership skills at crucial times.
The extensive benefits of interim management include flexibility and speed of placement, compared to an executive search for a permanent position which can take many months from commission to arrival in post due to the complexity of global searches and the need to fulfil notice periods.
HW can turn round a shortlist of professional interim managers for a client within three working days who can typically be placed within two weeks. They can often come in to bridge the gap during an executive search process being conducted by our Search business.
There are cost benefits too; many SMEs may not be in a position to fund a permanent executive position for a particular specialism such as a digital transformation director.
And without the on-costs of a permanent executive such as bonuses, holiday pay, NI contributions, pension, private health insurance and company car benefits, the day rate suddenly does not seem so prohibitive.
Free from the shackles of office politics, a professional interim can offer a fresh perspective, objectivity and challenge. As a freelance operator whose work is heavily reliant on referrals and reputation, the interim is highly motivated and results driven, and will be fully committed to their client.
Professional interim managers are often over-qualified for the interim position they are commissioned for, meaning they can work independently and hit the ground running, with instant results. Their wealth of experience, skills, contacts and knowledge will also be transferred to the in-house team, giving benefits which outlive their interim contract.
The return on investment of a professional interim manager for a business can therefore be substantial, particularly at a critical time.
HW has access to an elite network of senior executives, with a particular strength in finance, commercial, operations, and transformation and change, enabling us to provide interim solutions within tight deadlines.
Rachel Frankland is an Executive Interim Consultant in HW’s Interim practice. For an informal discussion contact her at firstname.lastname@example.org or +44 (0) 7595 203 229, or contact Interim Executive Recruiter Anna Splain at email@example.com.