Why Interim Management?
This is the key question, why IM? The advantages of Interim Management are not simply economic as you might think at first, having excellent professionals in any department of your company can be the differentiating point that makes it grow and achieve the objectives or adapt to a new market situation faster than the competition.
Companies are often faced with new situations to which they have to adapt, in the face of this change or adaptation they must act quickly and manage risks, but the excellent experienced professionals they need for change are difficult to find and, often, they are costly and their hiring ends up delaying the resolution of critical problems. Excellent and qualified executives are increasingly rare and traditional recruitment methods slow, leading to a high opportunity cost.
The concept of Interim Management started in the Netherlands in the mid-1970s. Dutch companies wanted a model that would allow them to comfortably access specific high-excellence talents for predetermined periods of time to fulfill key tasks and launch new projects.
The additional degree of flexibility and scalability provided by Interim Management proved to be very effective and the model was established in the UK in the 1980s.
During the last 30 years the use of Interim Management grew between 20% and 40% annually worldwide.
The Interim CIO consists of the full-time or part-time incorporation of CIO professionals with extensive managerial experience and excellence to carry out a specific mission within the department with previously defined objectives to be achieved and in a specific time frame.
Among the advantages of Interim CIO we could highlight:
- They significantly improve managerial capacity in functions or projects in which they contribute extensive experience.
- They can be incorporated full-time or part-time depending on the specific needs of the company.
- They involve a variable cost because it is an external provision of professional services.
- Greater objectivity in their diagnosis and decision-making as they are not contractually or emotionally linked to the company.
- They obtain results in short periods of time because they require detailing the objectives to be achieved before being hired.
- They provide commitment, involvement and rapid integration into the structure of the company
- They carry out important mentoring work
What kind of sectors can benefit from Interim Management?
The simple answer is all companies that need to manage problems outside of their current capacity or capabilities. The demand for interim managers comes from virtually every industry.
An excellent professional in your company through Interim Management offers you:
- Performance from the first moment, short process of adaptation to the company.
- Being able to have excellent professionals that we could not access due to salary scale and costs.
- Cost reduction, not only salary but training, adaptation time, efficiency.
- Focus on specific projects or developments of the company, adapting the duration to the development of the same.
- An external vision of the company, which can help to see improvement processes that we are not able to see on a day-to-day basis.
- New technologies, new methodologies, fresh air for the company.
What kind of needs can the use of Interim Management help?
Implementation of new technology
Implementation of new strategy
Expansion to a new market
Starting or closing a division
New activity or atypical project
Sudden loss of a senior manager
Management of temporary overloads
Business merger, spin-off or acquisition
Rationalization, downsizing or restructuring
Cultural changes within the company
Reverse underperforming splits
Benefits of Interim Management
Save costs on selection, training and adaptation. Stay in control of costs at all times.
Not having to perform a
The selection process implies an increase in speed and agility in the incorporation of the professional.
The guarantee of an excellent professional is his effectiveness from the first moment, his adaptive capacity and his high efficiency.
An excellent professional
it can help your business grow, reach new markets, create new products.
Mentoring is the most effective method of starting a new project or assuming a new position. It is complementary to training and facilitates consultation with experts on how to tackle new challenges, how to know the risks and how to apply solutions based on real experiences.