Why Interim Management Might Be the Best Option
During times of change within organizations, often interim management is brought in to help the
company get through the transition. But what does that mean?
What Is Interim Management?
Interim management occurs when someone in a manager or supervisor position is either hired on a freelance basis and is not a permanent employee of the company or when someone from within the company is temporarily promoted without a definite answer as to whether or not they’ll be taking on the role full-time.
Interim managers are usually highly experienced executives brought into an organization going through a transition phase. They are there to help the team through that transition until the new executive or manager is chosen.
Interim management positions can range from human resources to board members to general management to CEOs. Sometimes interim managers are promoted from within, and sometimes a company brings someone external in.
Often when someone is promoted for an interim management position from within, they’re looking to be offered the job full-time. However, there are many freelancers out there who prefer to move from one interim management job to another.
Why Hire an Interim Manager From Outside the Company?
Freelance interim managers save the company money because they aren’t full-time employees. Interim managers are highly skilled executives with experience working as temporary managers. They understand how to navigate transitions and gain a team’s trust.
Forbes identified four key themes when it comes to external interim management:
- Interest has grown among leadership to become interim management rather than full-time managers.
- People are making being an interim executive a career based on flexibility and choice. There are many well sought-after interim leaders.
- Industries that use interim leaders are expanding. There are people with professional specialties that are sought after for interim management positions.
- There’s an increase in supply need for interim leaders. It’s easier to find interim leadership positions due to an increase in network and executive associations that offer interim expertise.
The Four Key Themes Broken Down
Many experienced executives are choosing freelance careers that put them in a leadership role in different companies. Full-time positions aren’t for everyone. It’s becoming more popular for companies to hire high-level management consultants for interim management positions.
The flexibility and freedom that come with being a freelance interim manager are appealing to many people. This is especially true as the world of corporate America changes.
Long-term careers as high-level interim executives have become increasingly popular and are more appealing than full-time management positions.
Highly skilled, experienced executives whose sole job is to come into a company or organization and take on a leadership role on a temporary basis is appealing to the organizations that need an interim manager. The leaders are out there, and it’s easier and often cheaper to bring someone in than to hire from within.
There is a greater need for interim leaders right now, and companies have more resources to find them. A bigger pool of networks and associations that offer interim experienced executives exists than ever before.
The Most Common Interim Management Challenges
When you become an interim manager you might be on your way to becoming a full-time manager, but you don’t have the job yet. If you’re promoted temporarily from within the company, you may not know what your future holds. And there are many interim management challenges you’ll have to face.
One of the biggest interim management challenges is that you have to prove yourself every day if you want the job full-time. Your time as interim manager is ambiguous and not a done deal.
You have to balance being the boss with knowing that you’re not the full-time boss. It can also be difficult to earn the trust of the team, especially when they used to be your peers. And when everyone knows that you’re not necessarily going to be the full-time leader of the team, there might be some dissent among the ranks about whether or not to listen to you.
Interim Management Dos and Don’ts
There are many dos and don’ts to being an interim manager. Here are a few:
Interim Management Dos
Be honest about your intentions – if you want the job full-time, tell the company that when they hire you. Transparency is always the best way to go when it comes to the workplace. Be upfront
with the company about what you want.