An Interim Manager is an excellent solution when the business is facing a challenge.
Interim Managers can solve challenges, execute transformations and fill a vacancy or sick leave. All assignments are unique and by hiring an interim you get a leader who knows exactly what you need at exactly the right moment. An Executive Interim Manager is a short-term injection for a project or a specific task, that focuses on the assignment and is invaluable in changes such as strategy projects, implementations or to drive growth.
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Good to know about Interim Managers
What is an Interim Manager?
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.
An Interim Manager is a person with long experience in leadership and in driving change in a complex environment. The interim has a background in leading line roles within a commercial business or government-controlled business. The interim has chosen to step down from a permanent role to take on time-limited assignments.
What is the difference between an Interim Manager and a Management Consultant?
Executive Interim Management has one foot in the headhunting industry and the other foot in management consulting. We have listed the main differences below:
|Interim Manager||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 practices 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 is an Interim Manager the best solution?
When you need to quickly bring in an experienced manager or specialist in a specific area. Where recruitment takes too long and/or classic management consulting does not give you the hands-on implementation power you need. It can be anything from filling a critical gap, reorganizing a business, in connection with digital transformation, expansion, establishing a foreign country, divesting companies or the like. The basic need that you want to solve is to get help from one or more active leaders who operationally make things happen.
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What roles can an Interim Manager fill?
Interim CXO & Interim Executives
- CEO/Group CEO / Chief Executive Officer
- CFO / Chief Financial Officer
- CTO / Chief Technology Officer
- CIO / Chief Information Officer
- COO / Chief Operating Officer
- SVP / Senior Vice President
- BU Manager / Business Unit Manager
- VP Sales / Vice President Sales
- SVP Marketing / Senior Vice President Marketing
- SVP Operations / Senior Vice President Operation
- SVP / Senior Vice President
- R&D / Research & Development
- HR / Human Resources
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Program Manager & Project Managers
- PMO / Head of Program Office
- Project Office Director
- Senior Project Director
Read more about PMO/Project Management here.
Head of Key Functions
- Head of Business Development
- Head of Communications
- Finance Manager / CFO
- Head of Group Finance / Group Accounting Manager
- Head of Accounting / Accounting Manager
- Head of Business Control
- HR Manager
- Site Manager
- Production Manager
- Logistic Manager
- Purchasing Manager
- R&D Manager
- Project Manager
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Other Key Specialists
- Legal / General Counsel
- Quality Manager / Kvalitetschef
- Press Officer
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What services can an Interim Manager perform?
Major initiatives/projects owned by company management. Over the years, we have also developed networks in certain specialist branches, as well as with people with a background as a management consultant and who have extensive experience of running larger complex programs/projects.
How long is an assignment?
Most of our assignments are directly linked to a major initiative with our customers and often the assignment extends over 6-12 months, in some cases much longer. It is common for assignments to be extended.
What does it cost to hire an Interim Manager?
The cost of hiring an Interim Professional via Nordic Interim depends entirely on the role, situation and the length and scope of the assignment. As a clue, it is considerably cheaper than hiring a management consultant. Together, we go through challenges and assignments and calculate an approximate range at the fee level to be able to attract and engage the right person with the right calibre.
Read articles and interviews about Interim Management here.