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Table of contents:
If you have other questions, please let us know so we can contact you. When do you have to involve an interim manager? We recommend the involvement of an interim manager, when there is an urgent necessity to solve problems and to exploit business opportunities now or as soon as possible The need arises, because otherwise large disadvantageous impact appear, so that it will be necessary to act now. You and others now feel the pain and the dissatisfaction with the current undesirable situation. The disadvantageous consequences possibly are related to a crisis, extra cost, large dangers (e.g. continuity of the venture), loss of income and/or overtake or lacking behind by the competition. There is also at the present no internal candidate who can do this job. A lack of management capacity and know-how can hurt you. This situation occurs probably one time and is temporarily. When do you have not to involve interim manager? We recommend you not to involve an interim manager, when you and your colleagues do not feel the urgent necessity now and think you can carry the possible disadvantageous impact yourselves. It also can be that you have an internal management candidate present if the situation changes. Moreover it could be possible as well that a long-term change is necessary and an external employed candidate could be brought in, that afterwards could fulfill another function. What are the advantages of working with an interim manager? There are many advantages of temporary working with an interim manager. First of all an interim manager is directly available and he possibly can start immediately. In that case there is a time profit. The interim manager is very experienced. He can analyze fast and thoroughly problems, generate possible solutions and present an action plan. His or her strength is in the implementation of the plan. Deviations are analyzed and adjusted. Communication is of high importance. Here is an important gain of time, but also a reduction dangers in agreements made. He or she is an example for others as well. Transfer and readjustment can ensure good embedding in the organization. Profit and loss analysis shows that interim managers are profitable at the end of the day! What are the disadvantages of working with an interim manager? An interim manager fulfils only temporarily a function in your organization. He or she is not an employee on your payroll. Because of this you could get the impression that the interim manager stands outside the organization, what in some situations can be also seen as an advantage. There is also a another “price tag” on an interim manager: they are “more expensive” than a similar manager in paid employment. But you should not look only at to the costs, but also to the profits. The balance between costs and benefits will be profitable, if all costs and benefits are taken into account. What are the risks of working with an interim manager? By contracting an agreement with your organization, INFORCOM and an interim manager both run into certain risks. A number of these risks is related to the selection of the manager, the management style, the output of the implementation, the transfer and the persistency of the achieved results. These risks will be managed for a large part by INFORCOM by spending great care on the selection procedure, where the correct and motivating management style, costs/profits, transfer and readjustment will be important areas for special attention. The selection criteria will be determined in close cooperation with the customer. What are the costs of an interim manager? The costs of an interim manager consist of a daily tariff plus expenses, such as travel and accommodation expenses. The height of the daily tariff is related to the level of experience of the interim manager. INFORCOM has qualified interim managers for executive board functions with final responsibility and for functions directly under the level of the executive board, such as the functions of the members of the management team. Moreover INFORCOM also have managers or directors for the implementation of projects, programmes and processes. The band width of the daily tariff amounts from € 800 to € 1,600. The costs above must be compared with the costs of your own manager in paid employment, existing of his or hers daily tariff possibly completed with other costs. In general the calculation of these costs will not differ considerably from those from an interim manager. The cost difference and the eventual extra cost will balance in a profitable way against the costs of the contract with an interim manager. What are the profits of an interim manager? An agreement for the implementation of a contract with an interim management is always unique and adopted to a specific situation in an organization. Profits are calculated only by case and are therefore not in general applicable. Most of the bureaus do not calculate the profits anyway. INFORCOM tries, however, to calculate the profits as well as possible in close cooperation with the customer. In general profits can be related to saving costs, the generating of turnover, the promotion of financial flows, managing waste or loss, etc. What is the return of an interim manager? By comparing the costs and benefits of an interim manager the results of the effort can be calculated. There is a positive result when the costs are lower than the revenues (benefits). INFORCOM assures that the commitment of its interim managers produces results! This will be shown for each contract. How long does an interim management assignment last commonly? An interim management assignment exists in general of three phases: preparation, implementation and transfer management including readjustment. The preparation exists of analyzing the situation, making an action plan, presenting the plan and the acceptance of the implementation. The preparation costs normally 4-6 weeks. The third phase of the plan includes the implementation and the monitoring of the implementation of the plan. This phase costs normally 10-12 months, including 4-6 months for the recruitment and selection of a successor. Transfer and readjustment takes normally 4-6 weeks. A “average” contract lasts therefore 12-15 months. |
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