Interim Management

"Unless the interim provider has a bank of suitable candidates, already well known to them, there is no way that they can provide me with the calibre of candidate that is even worth a first meeting given the timescales we are working to." David Rimmer, Director, Alchemy Partners (Turnaround Professional of the Year (STP Award 2006))

As well as giving a concise insight into exactly what executive interim management is and the type of situations that might give rise to the need for an interim manager, the aim of this section is to dispel some of the myths and confusions surrounding the industry.

By suggesting some of the questions you should ask when deciding on which executive interim management supplier you should use, it also helps to provide clear and helpful advice.

Further information can be found in the authoritative guide to executive interim management, sponsored by BIE in conjunction with the CBI.

Forward by Digby Jones

Few would argue that the business environment is undergoing rapid change. The major trends contributing to this changing landscape are globalisation, the emergence of new technologies and a decline in the conventional executive talent pool. Agility is now key to business success. All of this has made interim management an increasingly valued resource.

Interim managers temporarily fill positions such as chief executive, finance director, human resources director or operations manager. Their roles vary from, say, integrating an acquisition or helping with succession issues at family owned businesses to turning around a troubled company at the behest of a venture capitalist. Whatever the situation or the business need, interim managers bring a wealth of experience and business acumen that help to set a company on the right course for its future. In this guide, you’ll read about interim executives who have stepped in and the successful changes they have implemented.

The job of the interim is to leave a business in better shape than he or she found it. That’s the draw for many people who choose interim management as a career. Invariably, these individuals are proactive, results-orientated and have substantial change and transition implementation experience. They are good communicators. In short, interims command attention and respect.

Companies need to be able to rely on interim providers whom they trust. This guide outlines how to identify a provider through to how to integrate the chosen interim into the business and get the work under way. As a great majority of UK organisations have yet to use an interim, this guide is well timed. It suggests the best ways to begin taking advantage of the offerings of this ever-growing 4 wing industry.

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Overview

Forward by Digby Jones