When your company is in need of a heavyweight senior employee charged with making an instant impact but you are not ready to commit to offering full-time position, you might consider bringing in an interim manager instead. In fact, you will find that doing so could bring plenty of advantages to your business in a time of need. Especially if you are desperately in need of a stop-gap solution to help fill a managerial position during a transitional period.
Without the experience, leadership, and knowledge in senior positions within your company, your organisation is potentially at risk. The growth and sustainability of your business could suffer, which ultimately puts its survival into question. In this article, we take you through why many more companies are considering interim managers during a crisis or transitional period.
Why Some Firms Avoid Using Interim Managers
While in the right circumstances, an interim manager is a perfect fit for companies, some businesses do have some perceived disadvantages. Some companies are reluctant to use interim senior employees for several reasons.
- Perceived Cost: Rates for hiring an interim manager can start at £500 per day and even reach as high as £2,000. Those figures can look quite high initially, but as we discuss in the next section, they might not be as high as first thought.
- Internal Political Implications: Some firms believe looking externally for a new manager may affect morale of existing staff in lower positions.
- Perceived Level of Commitment of the Interim Manager: Another reluctance is because of the belief that an Interim Manager may not care as much as a permanent employee.
Quicker Recruitment and the Actual Cost
The reluctance shown above is understandable, but when you look closer, hiring an Interim manager from Cartisian or another leading recruitment agency actually has many benefits. For one, the daily rates mentioned above look different when you consider the hidden costs of hiring a permanent employee.
The company will not have to pay National Insurance, employee tax, holiday pay, or pension contributions. The interim manager will also only charge for the days actually worked. You also have the option of hiring the manager on a part-time or project basis if you need their expertise just for a short period. That way you are not lumbered with an employee you no longer desperately need. When you factor in all the above, hiring an Interim Manager is not as expensive as you first thought.
Another enormous benefit is the speed at which you can bring someone in. it can take a matter of days compared to the months it may take to hire somebody permanently for that position. When you need expertise and leadership quickly, interim managers make the best sense. They can come in, seize hold of the current situation, and have an almost instant impact.
Interim Managers Can Provide a Fresh Perspective
Often, with many years of experience holding similar positions at other companies, interim managers can bring a fresh perspective of your organisation. They can come in and give an objective opinion on the business and how it is run. This is without the perceived threat that a full-time employee might be deemed from management teams within your company.
As the manager is only there for a short time, current employees do not feel threatened and will buy into any new ideas. This can lead to a new direction and a new purpose within your company as the interim manager makes an instant impact.
The Need for a Good Track Record Ensures Commitment
As for the perceived level of commitment an interim manager may have, this is debunked by looking at his or her CV. Most will have held similar position in the past and did not get their without showing a high level of commitment. Interim managers rely on their previous job history, referrals, and records of accomplishment to ensure they can continue to pick up interim positions. A lack of commitment is rarely something you can pin on an experienced senior manager that has a flawless track record. Besides, even if they did lack commitment, at least you have not taken them on in full time employment.
The Takeaway
Hiring an interim manager will not be the solution for all companies, but in times of need and in the right circumstances, they can bring many benefits. In fact, at crucial times when your company is lacking experience and skills in senior positions, they could prove the difference between your company enjoying consistent growth or potentially going under. Just make sure you do your research to ensure you are getting the best man for the job. Most interim managers will instantly have a positive effect, but the perfect person at the right time can be the catalyst your business.
