Interim Management, change management and executive recruitment from BIE Interim Executive
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Guide to Interim Management

The Selection Process

Maximising the opportunity

"The availability of interim managers has been invaluable to me. interims have been particularly useful in turnaround situations, where skills are required to introduce changes the incumbent team are unable or unwilling to implement." Keith Jordan, Chairman, various private equity investments, including Bank of Scotland and Murray Johnstone

The overriding factor in the success of an interim assignment is the “correct” identification of the best available and most suitably matched interim executive from the UK pool of top talent. In view of the significance of these assignments, the choice is always limited. This is further compounded by the fact that the interim is typically required within days of an enquiry, not months. Immediate full-time availability of the chosen candidate is almost always a prerequisite. Therefore, what steps should a client take to ensure that the best choice is made?

For this level of permanent appointment, the executive search process is well understood, as is the process of commissioning a team from a “Big Five” consultancy. However, there remains much confusion as to how best to source a senior interim executive. While the awareness of interim management is growing, the critical, related service of its provision is still a mystery to many – particularly to new users.

Without better understanding of how clients can best source their requirement, the long-term success of interim executive management will not be fully exploited and may well be jeopardized. For example, of some concern are the findings in the recent BIE/MORI Captains of Industry study*, which indicated that only 40 per cent of respondents would contact a specialist provider. Many stated that they would prefer to trust their own informal network of contacts, whilst others said they would defer to executive search and/or management consultancies – even though most of them do not incorporate any specialist expertise in interim executive provision. A respected specialist provider should:

  • Attract all potential, high-quality executives who wish to be considered for interim work.
  • Be able to accurately “filter” new talent and have a successful track record of launching new interim executives on their first assignment.
  • Have an in-depth knowledge of the vast majority of quality, practising interims in the UK, which number less than 1,000.
  • Be able to refer to a “gene bank” of proven and exclusive interims who have worked for the provider and are well known to them.
  • Understand a client’s interim requirement and have a track record of matching precisely and often innovatively against an agreed brief.

In summary, a respected specialist in interim provision should always be able to offer the best solution – especially in comparison with informal networking or “add on” non-specialist services of search firms and management consultancies.

The head-renter

Interim executive provision – head-renting – is a specialist service. The provider’s challenge is to identify from thousands of aspiring candidates the one suitably overqualified interim executive within days of a client’s enquiry. The choice is always limited, and this is further compounded by the fact that the best interim executives are only available for short periods between assignments. Their skills are greatly in demand. Assisted by the interim provider, clients must move quickly to avoid losing the ideal candidate.

As the interim market has matured, interim providers have developed various processes and services. The provider’s role varies according to the process used. These processes can be categorised into three types.

*refers to 2001 survey; see 'MORI Poll' section for latest results.

Next: The three types >

To discuss your interim management requirements with BIE call +44(0)20 7222 1010
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