Starting your own company can be an incredibly exciting journey. From finding the perfect premises for your office to recruiting a talented team of individuals to help you reach every set goal.
Despite the turbulence that the outbreak of the pandemic brought, studies have revealed that over 375,000 new businesses launched throughout the lockdown period.
But what happens when things don’t go according to plan?
In this article, we explore the role of an interim manager and the benefit that hiring one can have on your organization.
What is an interim manager?
The official definition of interim management is “the provision of effective business solutions by an independent, board or near-board level manager or executive, over a finite time span” – as officially quoted by The Institute of Interim Management. Simply put, an interim manager is a specialist consultant that can be hired by businesses to fix problems as quickly and discreetly as possible. This could be to bridge a gap when a senior partner or director takes leave or to use their skills to solve large-scale crises that businesses may suddenly find themselves in without warning.
When would an interim manager be hired?
You can hire a specialist interim manager to aid with any business problem that requires a solution. They tend to be a temporary addition to the team, acting as an additional part of the company until the issues in question have been resolved. Interim managers are typically hired when:
- A company crises is occurring
- A change in management is required
- Specialist skills are required in order for your company to excel
- Quick turnarounds are needed to improve overall business
- There are sudden leadership gaps that need temporarily bridging
What are the benefits of an interim manager?
Regardless of the reason for hiring one, of the main benefits of an interim manager is their experience and skillset within your field of business. This is why it’s imperative to recruit the right interim for the job so that they can offer you the best help possible in solving whatever issues your organization is experiencing. By using their years of expertise, an interim can streamline a process quickly and efficiently, providing a solution to your problem in as little time as possible. A professional interim will get to know every inch of your business so that they can come up with a successful strategy to iron out any issues and get your company back on track again. For this reason, it’s vital that you are 100% transparent with your interim manager, so that they have all the information they require to help your company perform at its best once more.