What is Interim Management

The market trends in interim management in Switzerland show clear differences between industries, functions and tasks. Various industries are currently in a very delicate process of transformation. Due to ongoing market changes, new business models are required and supply chains have to be restructured.

With interim managers experienced in the industry, such challenges can be planned and implemented in a short time. But what exactly does an interim manager do and what are the advantages of this business model?

The interim manager, also called a temporary manager, is a specialist who works temporarily for a specific purpose in a company. Interim managers can operate in a variety of industries, but most are medium-sized companies or large corporations. As an external project manager, this person assumes management tasks and responsibility for results. Usually, interim managers are used for specific projects, to bridge management bottlenecks, to introduce new programs, when a company is founded and to solve challenging situations where specialist know-how is needed. They leave the company as soon as the problem is solved and a stable company or division management is established. The duration of an interim manager's assignment is up to 24 months.

Interim managers are experienced experts with many years of professional experience, who usually have a career as an executive. They are not permanently employed by a company, but work on a freelance basis. However, they are clearly distinguished from a management consultancy, as the latter takes on more of an advisory role, whereas the interim manager acts operationally and assumes responsibility for his activities. The best basic requirement for an interim manager is successfully completed projects. Thus, he can make use of a wealth of experience and thus approach new tasks with the necessary routine. In addition, a track record of success is the best reference of an interim manager. Management experience in the respective industry is also of great importance for an interim manager. Since he is in a special situation vis-à-vis the employees, he must above all gain their trust. Social skills are therefore crucial. It involves being a strong communicator, appearing credible and competent. Only if he manages to convey this impression can he win the trust of the team and achieve the project goals. In addition to the social skills, the professional competence must also be right. In this way, discussions can take place at eye level and solutions can be worked out together.

In the case of assignments planned at short notice, the interim manager starts just a few days after the need becomes apparent. Then the interim manager must familiarize himself with his tasks within a very short time. After a comprehensive analysis of the task, he must understand the company, its culture and history. He must get to know his employees and all relevant facts. Especially important for the success of his work are the developments that were decisive for the emergence of the current situation as well as the consideration of already tried measures and existing fronts. How much time and effort the interim manager has to invest in the analysis depends on the task as well as the preliminary work of the company. In any case, the interim manager should not spend too much time on the analysis, since the focus of his activity is on the implementation.

Interim managers can be deployed in all management functions, whether as division managers, production managers, department managers, in finance, human resources, purchasing, controlling or quality. They are often also used in general management as managing directors in change management processes, restructuring and crisis situations as CFO, CEO or CRO.

Advantages of Interim Management

• Filling management positions in a company is usually a time-consuming process. Especially in crisis situations or short-term projects, time is a scarce resource. One of the greatest advantages of interim management is therefore that the managers can be deployed immediately.
• Interim management enables a company to gain overarching knowledge, because interim managers are very broadly positioned due to many years of experience from previous assignments. Thus, they offer many advantages over internal project managers, as they act objectively vis-à-vis entrenched structures and are not involved in day-to-day business. They bring with them the critical view of an outsider and thus open up new potential courses of action.
• Interim managers do not pursue any secondary or third-party goals in their work and can therefore concentrate completely on their project.
• Interim managers are experienced in their field: A problem that occurs in a company for the first time has already been solved many times by the external managers. As a result, a company does not waste unnecessary time and resources in finding a solution.

Is your company currently in a crisis situation or restructuring and you are looking for a suitable interim manager? Then we will be happy to assist you. Simply contact one of our consultants and let us advise you. We look forward to hearing from you.