Here we list frequently asked questions and answers. Reach out to us if you have a question you cannot find the answer to below!
About Nordic Interim
We are the Nordic region’s leading supplier of Interim position on the C-level. We were founded in 2004 and are today part of the Valtus Group, which is the leading player on the European market. We help companies/organizations/public sector, to solve business-critical challenges such as change projects, vacancies, or sick leave. We work with the market’s best interim leaders who can start the assignment very quickly and solve the customer’s problems.
Nordic Interim is the leader in the Nordic region within Interim Management, and together with Valtus and Globalise we can help our customers globally. Our Partners have extensive experience of line manager roles, transformations as well as management consulting, understanding the client’s problems. Our employees have extensive experience of Executive Search, Interim Management, and Management Consulting. We are a partner to both Interim Managers and our clients and are involved throughout the process. We cherish a personal contact.
What is Interim Management?
An Interim Manager is a person with long experience of leadership and of driving change in a complex environment. The interim has a background in leading line roles within commercial business or governmental controlled business. The interim has chosen to step down from a permanent role to take on time-limited assignments instead.
Interim Management gives the business access to a very experienced leader when their own resources are not sufficient in the event of a challenge, crisis, or vacancy.
Examples of typical assignments:
- A CFO has left the company and there is no replacement in place. An interim CFO was hired to bridge the gap while recruiting a permanent CFO. As the interim was overqualified, he immediately reviewed processes and structures and handed over a well-functioning business to the new CFO.
- A subsidiary performed poorly and showed red numbers. It was not known where the problem lied. The CEO had to go on the day. An interim CEO was engaged to analyze the company and provide clear and transparent information to the board. A turnaround was conducted.
Do you want to know more about what interim means, or are you interested in becoming an Interim Manager, or if it can be a solution for your company? Contact us here.
Executive Interim Management has one foot in the headhunting industry and the other foot in management consulting. We have listed the main differences below: We have listed the main differences below:
|Executive Interim||Management Consultant|
|To execute and drive change to achieve operating results||Analysis, advice, transfer of best practice, solution design, and/or driving programme/project management|
|Basing execution primarily upon long-standing operating experience, leadership and industry/functional experience. In certain cases with some years of prior work as a consultant||Basing execution primarily upon methods, processes and analysis combined with industrial/ functional best practice collected from the consulting company.|
|Acts as a part of your organisation, often with budget and/or responsibility for P/L||Acts outside the organisational framework (often in programme/ project form)|
|40+ depending on the industry and functional background||Often 25-35 years old|
|Completely loyal to you as a client and to your goals. Reports to you like an employee. No incentive to sell you more Interim Managers||Loyal to you as a client but also to his/her consulting company|
When do I need to engage an Interim Manager?
When you urgently need an experienced manager or specialist within a specific area. When a recruitment process takes too long and /or when classic Management Consulting does not give you the hands-on implementation you need. It can be anything from filling a critical gap, reorganizing a business, leading a digital transformation, expansion, establishing a foreign company, to divesting companies. The basic need that you want to solve is to get help from one or more active leaders who operationally make things happen. Read more here.
Often you do not have the right skills and resources internally. If you add a project to an internal resource now handling two roles, you risk not reaching the goal of the project or miss the deadline and budget. An Interim Manager enters the business with an “outside-and-in-view”, new energy and very good leadership. The interims that we work with, have exactly the right skills for the assignment and have made the same or similar journey before. In addition, engaging a time-limited resource is more cost-effective than hiring a person who may not be needed in the organization after completing the assignment. Read more here.
About our processes
Yes. We know that our clients need to find a solution quickly, and – perhaps more importantly – they do not want to have endless interviews or evaluate CV’s themselves to find the right skills and person. We are not content with merely matching suitable and available candidates, we work intensively for about 1-2 weeks to hand-pick people in our networks in Sweden and internationally. In this way, after a very short time, we can propose 2-3 people with exactly the right relevant background for the assignment.
We verify our candidates through personal meetings (during Covid via digital meetings) where we evaluate the person’s career, leadership style, etc. In the next step, we take references and if the customer wishes, we also do a background check.
The process takes 2-4 weeks and includes interviews with us and with the client, and references.
We take references on all Interim Managers who are engaged. Many of these, have collaborated with us before. All our Interim Professionals at a leading level also sign a debit register certificate. We can also have a complete background check done. We collaborate with one of the Nordic region’s leading companies in background controls.
Confidentiality is a matter of honor, both towards our clients and Interim Managers. At the beginning of each collaboration, we agree with the customer on the desired level of confidentiality and we often use an NDA (non-disclosure agreement) before talking to the candidates. In our experience, this benefits all parties.
If an assignment should not develop as expected (which happens extremely rarely), we have termination clauses. These are assignment-specific, but the majority have one month’s notice. Of course, we help our client to find a replacement with equally strong qualifications. Nordic Interim has liability insurance for all our consultants, and all our interims at a leading level must take out a debit register certificate. We can also have a complete background check done.
In our agreements, transitional fees for direct employment of an Interim Manager are regulated. We have a great understanding that this can be a win/win-situation for our customers and Interim Professionals.
Yes, we charge a small fee at the start-up of an assignment.
The cost of hiring an Interim Professional via Nordic Interim depends entirely on the role, situation and the length and scope of the assignment. Briefly, it is considerably cheaper than hiring a Management Consultant. Together, we go through the challenges and assignment and calculate an approximate range of the fee level to be able to attract and engage the right person with the right caliber.
Nordic Interim signs agreements directly with the interim. We sign a separate agreement with the client. An Interim Manager needs to have his/her own company to invoice, as well as a consulting insurance that you get through your insurance company. The interim invoice us for their time worked and we pay the fee.
Information about assignments and our business
No, we cover, and have experience of, all industries within commercial business and public sector.
Yes, we are active and have a network in the whole country.
Yes. Together with the leading and largest interim suppliers in Germany, France and the USA, we have founded Globalise, with partners in 16 countries. About 10% of our assignments are international and this increases from year to year. It can be Nordic companies and organizations that need help globally, or international companies needing help in the Nordic region. Since 2020, we are part of the French Valtus Group, the European leader in Interim Management.
Our main focus is to solve challenges in company management positions, or major initiatives/projects governed by the company management. Over the years, we have also developed networks in certain specialist branches, as well as with people with Management Consultant background and who have extensive experience of running larger complex programs/projects. See examples of roles here.
Most of our assignments are directly linked to a major initiative, and often the assignment extends over 6–12 months, in some cases significantly longer. It is common for the assignments to be extended.
A Management Consultant analyzes the business /challenge and makes suggestions for changes and improvements. An Interim Manager also does the same analysis but works within the organization and also drives the implementation in an operational leadership role.
The interim industry is growing by about 15% a year and is becoming increasingly common. Under Covid-19, we have noticed a decline in demand, but the market is recovering, and we see that companies are now investing in growth again. More and more people want to work independently and business activities are conducted in project form where constantly new skills and experience are required.
About being an Interim Manager
We are consistently looking for highly experienced leaders who have worked in their field for at least 15 years. As an interim, you cannot take a career step up in an assignment, but you are rather overqualified to deliver from day one. Our Interim Managers are CFOs, CEOs, HR Managers, Group Business Controllers, Head of Supply Chain, etc. The common factor is that they have had roles at management team level or business-critical specialist roles such as Program/Project Manager for major initiatives. Read more here.
No, our assignments require an immediate start within 2-4 weeks. If you are interested in working as an Interim Manager but are a permanent employee, you are warmly welcome to contact us and we will tell you more, but you should have terminated your employment to be able to take assignments through us.
No, you do not have to have experience from interim assignments. There is always a first assignment! However, you need to have extensive experience in leading roles in your profession. Read more here.
All candidates in our database are searchable on several different parameters. When we search for certain roles or qualifications, we automatically get a view of all the candidates and their CV’s. As it is important for us to have a personal relationship with the interims we work with, we have a good overview of our candidates.
Absolutely, we have assignments across the country.
As an Interim Manager, you should have held leading roles for at least 15 years, preferably at a management team level. You must have a very strong experience of driving change and of leadership in complex environments and situations.