Q / A
👉 Management consultants advise and recommend.
👉 Interim managers advise, recommend and implement.
Consultants are usually employed by consulting organisations and while working closely with the client – they remain responsible and accountable to the consultancy. An Interim Manager becomes a full member of the team of the client company for the duration of the Interim Management assignment. He/she is an independent expert, operating as part of the team.
Interim Managers tend to be sensibly over-qualified for the assignment, so that they are immediately effective, whilst many junior consultants tend to learn on the job.
👉 Absolutely not!
Interim Managers are experienced executives that thrive on variety, on delivering value, on complex organisational challenges and on situations requiring the management of change. They chose Interim Management as their career. A career Interim Manager is driven by the challenge of dealing with short term assignments, especially where they are contributing special skills that are only needed in the short term. Being task driven they are often not interested in climbing the corporate ladder or in corporate politics.
👉 An Interim Manager invoices are based on an all-in fee per day he/she spends on the assignment.
In some cases, other daily travel and accommodation expenses will be charged, but agreed up front. There are no additional costs. Overall, the cost of the Interim Manager compares favourably on a day to day basis with the full cost of a permanent manager when taking into account not only the salary and the social security but all the peripherals such as bonuses, holidays, sickness allowances, training, insurances, stock options, recruitment and lay-off costs and various fringe benefits.
👉 Interim Managers have the ability to easily integrate.
Interim Managers have excellent social and managerial skills and experience. Also, they are assigned only on temporary basis and shouldn’t be considered a threat. In that context, it is very important to clearly explain the purpose of the Interim Management assignment to the organisation prior to his/her start.
👉 The opposite is true!
This is a common concern, but you need to remember that: Interim Managers live on their references. They are focused on the goal and are held fully accountable to the task. They builds their credibility in the market by executing projects at the highest professional level.
👉 Take a look at our list:
- the ability to assess and precisely measure the situation in a totally new environment
- the ability to take ownership, analyse, develop and deliver solutions to the agreed schedule and budget
- demonstrating track record of achieving the above and showing progression of increasing responsibility
- excellent and effective communication skills
- the ability to form relationships quickly
- the ability to lead, to influence and to motivate
- emotional intelligence - after all, this is not a job for the faint-hearted
👉 Each Interim Manager has his own „price”!
This is: his daily rate. Based on the actual days worked the monthly costs are invoiced (number of days worked x daily rate).
👉 An interim manager is paid only on the actual days worked on a project.
There are no holidays during a project. When an Interim Manager is on a project but needs to take „a day off”, it is not invoiced. Interim Managers enjoy holidays in between projects.
If you are looking for answers to other questions