What is an Interim Manager?
Interim Managers (IM) are highly skilled professionals with management experience who can be brought into an organisation for a set amount of time whether that is a day, a week, a month, a year or more, in order to carry out a specific activity or set of requirements. GPD Business Services can help.
Interim Management is still a relatively new industry and, as a business concept, is a fantastic way of injecting much-needed flexibility into the marketplace. The UK operates one of the most sophisticated Interim Management networks in the world, with executives and managers covering a wide variety of roles at different levels of expertise, as well as within various technical areas. The best Interim Managers are already proving that, when used effectively they can improve the performance, efficiency and profits of an organisation. According to the Institute of Directors, an Interim Executive with the relevant experience and a good track record can be ‘the answer to a company’s prayers’.
Sometimes you may find that your business is missing key players, whether that is due to maternity leave, a surprise resignation or a long term illness. In these cases it isn’t possible to hire someone new for the job quickly, even if you need the role for the day to day running of your business, which is where GPD Business Services Ltd. can help. We can provide experienced senior managers for interim purposes, either for a set amount of time or as a rolling contract. GPD can also provide experienced project managers for one off projects.
While providing interim management, GPD Business Services Ltd. will work with your business in order to meet targets and improve the performance of a department, treating your business’ goals as our own. We use our expertise to deliver a return on investment (ROI), meaning that when leaving your business we leave behind an enriched department that works well. As interim managers, GPD can be in your business within days if necessary, meaning that your business does not have to suffer through not having a complete senior management team.
As interim managers, GPD can also provide an objective view on what is going on in your business, without having opinions clouded by company politics. This could allow you to discover ways in which to run your department more smoothly, increase productivity and ultimately increase profits. Additionally, interim managers take on responsibility. Whereas an external consultant can provide objective advice, an interim manager can be held accountable for what is going on in the department, and on acting on that advice.
A project manager is someone who has control over the resources, procedures and protocols of a project, including the planning, controlling, and organising of tasks to ensure the successful completion of the project. In general these projects are temporary and produce a unique service or product; therefore it is not necessary to employ a full time member of management staff to fulfil the role.
GPD Business Services can provide experienced project managers with expertise in a range of areas and sectors.
Some specific situations in which a company might need to engage a GPD Interim Manager include:
- To conduct a change management process, or business restructuring, which needs specialist resource and expertise
- To launch a new project when in-house skills are not sufficient
- To turn an ailing business around
- To accommodate a sudden increase in workload
- To manage acquisitions
- To provide mentoring and team development
- To carry out crisis management activity
- To set up new businesses or to close down old ones
- To handle a business situation which needs evaluation, recommendation and implementation when there is no time to do this using internal staff
- To fill a sudden gap in the workforce caused by absence, resignation, dismissal or secondment
Interim Management FAQs
Interim managers can fill a gap caused by illness, maternity leave, unexpected resignation or other leave of absence which has left a gap in the organisation that needs filling until a suitable permanent replacement for the role.
In general an interim manager will be in a senior position in an organisation and will take on a senior management role until a suitable replacement for the role is found, or the person whose role they are filling in returns. Interim managers are highly experienced professionals with niche skills who can step into specific business situations quickly and make a real impact. This could involve leading a team or project in light of a sudden absence or departure. Equally, interims may be required to take the lead during a period of change or to instigate a new initiative.
Rather than simply consulting, an interim executive will be responsible for actually getting the job done. Although we GPD Business Services temporary, contract and interim candidates through most of our specialist teams we also have a business dedicated to placing interim managers; please find out more about the services we off on our GPD Services page.
The interim managers provided by GPD Business Services are experienced with senior roles within multiple organisations and have experience in multiple areas of business.
Though you can employ GPD for a set amount of time, for example to cover maternity leave or a sabbatical, we do also offer a rolling contract, where cover is given up until the point that interim management is no longer needed.
Depending on the circumstances, GPD can be in your business and working as interim managers within days.
A project is an activity that is undertaken in order to provide a unique service or product and generally takes place over a set amount of time.
A project manager is someone that takes over the organising, planning and control of a project and the related resources, procedures and protocols.
When a company employs an IM, that person is contracted to deliver a fixed assignment for a fixed cost and fixed duration. Through this, the company gains the benefit of instant experience, a higher caliber of manager as well as having an ‘implementer’ on hand who will be focused solely on the job at hand. These benefits have lead organisations to increasingly recruit IM’s leaving a wide market for first time Interim Managers!
Ask any accountant and they will tell you the most tax efficient way to work as an Interim Manager, contractor or freelancer is to work through your own limited company. According to a 2010 survey by the Institute of Interim Management, 89% of professional Interims utilise a limited company model for their businesses. Forming a company isn’t difficult and only takes about five minutes. You’ll need to have professional indemnity insurance and on a more personal level you will also need to:
- Be organised and efficient in all aspects of your company administration.
- Provide a cost-effective alternative to a permanent, highly-paid executive.
- Offer flexibility on location and be able to commit to a weekly commute if necessary for the duration of the assignment.
- Be financially secure and able to cope with non-billing periods.
- Be available at short notice.
It’s well worth talking to GPD Business Services or the Institute of Interim Management. The IIM is the professional body for Interim Managers. It is a not-for-profit Institute run by Interim Managers and Executives. The IIM publishes an annual survey of Interim Management recruiters (known by Interim Managers as ‘Service Providers’).
As with all contractor-type roles, one of the key benefits of working as an Interim Manager is flexibility. In addition, by working in a number of Interim Management roles we will gain a unique and valuable insight into the internal workings of a number of different organisations, dealing with different management styles, different working practices and also potentially different industries and markets. All of which will enrich our knowledge and experience.