Wednesday September 2, 2020

Hiring during the Covid-19 pandemic? Is Interim Management the solution?

Businesses are continually having to adapt and change amid the ongoing uncertainty that is 2020.

With that in mind one trend that we potentially see an increase in is hiring interim managers.

Firstly, what is Interim Management?

In simple terms, Interim Management will be independent senior executives, usually hired at short notice, to fulfil a specific assignment over a finite period.

Given the authority at or near board-level to effect change within a company, they are the ones accountable for results.

Why choose Interim Management?

They bring well-qualified skills and expertise to bear at short notice, without the overheads and shackles associated with employment.

They consult, plan, advise, implement, and embed the lessons, then exit, handling a range of key strategic and tactical interventions.

As businesses in their own right, they offer independent expertise, free of company politics, and take responsibility for delivering results, not just offering advice.

‘Hallmarks’ of Interim Management

The differentiating ‘hallmarks’ of professional interim managers and executives from other types of temporary or fixed-term contract resources are:

High-impact. Interim managers are practised at making a significant difference quickly, assessing and working with the company culture and often with little in the way of a formal ‘brief’. They do not need time to warm up or to settle in, but focus quickly on the work in hand.

Independent. They remain outside of company politics and so are able to address issues from a position of neutrality. This can be particularly useful when difficult and unpopular decisions have to be taken. They also act as trusted advisors who tell it as it is.

Professional. Interim managers are micro-businesses in their own right, usually operating as Limited companies. They trade with the hallmarks of business, not employment, such as Professional Indemnity Insurance, business e-mail and often their own business website.

Seniority. Operating at board or near-board level, interim managers are managers and executives who have gravitas and credibility. They are used to leading businesses, functions, and departments. Suitably well qualified, they advise then deliver effective solutions.

Transformational. Interim management is often focused on activities related to change, transition, business improvement, crisis management and turnaround. Even when their assignment addresses a gap or shortage, they add value and energise the workplace.

Wide expertise. With a strong track record of completing a variety of assignments, interim managers typically combine depth and breadth of expertise in their chosen sectors and disciplines. Their agility gives them the wide reaching expertise to deliver results quickly.

Time focused. Interim managers are available at short notice. Once engaged, they will focus on providing significant value within the agreed fixed-term time parameters, seeing the assignment through and for not longer than needed, to a conclusion.

Here at Madison Lincoln, we have experience of recruiting in the private and public sector on an interim basis across the real estate sector.

If you want to explore hiring on an interim basis, please contact Tom McNally on 0208 194 8248 or tom@madisonlincoln.com

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