What Is Interim Management?

In simpler terms, an interim manager is a highly experienced and specialized executive whom you can employ in your firm for a short period of time to solve a specific business problem. He is a master project manager and will not only act as a consultant and give you advice, but also solve the problem for you.

Company X has been performing badly from the past 5 years. It is a family run business and due to the internal politics amongst the family members, the company has lost its competitive edge in the market.

To make the situation worse, the Managing Director has suddenly resigned. Now, the Chairman of Company X realizes that the existing management team is inexperienced and incapable of running the company.

So , he has two alternatives. He can source and hire an existing senior level executive from another company and employ her on a permanent basis. But finding the right person uses valuable resources. The placement of a new senior staff member may cause further conflict between family members and insecurities in their roles, and they may seek work elsewhere. And worse, if the new executive turns out to be the wrong choice, removing her will be difficult.

The much better alternative is to employ an interim manager! Such an executive offers both past experience in short-term troubleshooting and company efficiency, and specialization in the particular field.

The Chairman will be able to select from a panel of executives deemed suitable by the recruitment agency, and spend less time and money doing the legwork on his own. Existing employees will feel less threatened by the interim manager because of the limited time he will spend with the company.

An interim executive provides the solution to any number of problems in business. They are committed to their role as a short-term staff member and their varied experience in critical situations gives them a strategic advantage when handling new problems.

For a layman, it may appear that "interim manager" is just a fancy word for a management consultant. This is not the case! Some of their responsibilities do overlap, but there are very simple - and important - differences between them. Let us investigate this properly. For more information please visit Management auf Zeit

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