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c Worth their weight in gold?Exploiting the expertise and experience of an interim manager is a smart move in these uncertain times – and may give a significant competitive advantageDerek Soper bling companies to improve their competitiveness important to them to maintain their professional without incurring high permanent fixed costs by reputation, any concerns about engaging external CEOs manage resources to achieve results. If this bringing in specialist skills as and when they are assistance should be immediately dismissed.were easy, every asset finance company would be a needed. Interim management is generally synony- Engaging an interim manager might seem expen-success story. The reality is that CEOs are often con- mous with business change. The scope to mismanage sive, but securing the right person for the job will strained by shortcomings in their armoury or by change is enormous and interim management is mean that the cost is repaid, frequently many times time. The ability to improve the with the increasingly acknowledged as a successful means of over, making it a wise investment. right additional weapon or engage extra value-added helping to fill the capability hole. With an interim manager the company has a fixed resources can deliver impressive business benefits. Interim managers can be attractive to clients for overhead. He is contracted to deliver a fixed assign-Tapping into the expertise of interim managers is numerous reasons, such as their ...

Sujets

• management
• managers

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• Publié par: Iprie
• Nombre de lectures: 17
• Langue: English

Extrait

Worth their weight in gold?

Exploiting the expertise and experience of an interim manager is a smart move in these uncertain times – and may give a significant competitive advantage

Derek Soper  importantbling companies to improve their competitiveness to them to maintain their professional without inc reputation, any concerns about engaging external CEOs manage resources to achieve results. If this  urring high p l e s r  a m s a  a ne n n d t     w fi h x e e n d     t c h o e sts by were easy, every asset finance company would be a  bringing I   n in te  s ri p m ec   i m al a is n t a  s e ki m l e y are assistance should be immediately dismissed. success story. The reality is that CEOs are often con- n m e o e u d s e   d w . i   th business cha g nge. T n h t  e i  s s  c g o e p n e  e t r o a   l m ly i   s s m y a n n o a n g y e -Engaging an interim manager might seem expen-   sive, but securing the right person for the job will strained by shortcomings in their armoury or by  mana ement is time. The ability to improve the armoury with the  change is enormo w u l s e   d an e d interim g mean that the cost is repaid, frequently many times  right additional weapon or engage extra value-added  increasingly acknog it d as a successful means of over, making it a wise investment.  resources can deliver impressive business benefits.  hel I p n i t n e g r   i t m o    fi m ll a  t n h a e g  c e a rs p   a c b a i n l  b y e     h a o t l t e r . active to clients for over W h it e h a   d a . n     H in e t  i e s r   i c m o   n m tr a a n c a te ge d r  t  t o h   e d   e c l o iv m er p   a a  n fi y  x h e a d s     a a s  f s i i x g e n d -   Tapping into the expertise of interim managers is  umerous reasons a smart move in these challenging and uncertain  n r , such as their experience and ment for a fixed fee and fixed duration. times – making use of a hands-on person with sig- s p ib o i ven    success, speed of response, flexibilit n y,  a a c c t c i e o s n -Straightaway, the company receives the benefit of   the interim manager’s experience and skills. The fees nificant experience and a proven track record of  and l   i r t e y s , u i l n t d s, e  r p e e s n o d u e r n c c e e f , u   l o n b e j s e s c   t a iv n i d t   y, e   n f t o h c u u s s i   a o sm. The charged for an interi   m manager represent excellent  delivering results.  ability to be up and running immediately is a signifi- value when flexibility and the comparative cost of cant asset for the c permanent employment are brought into the equa- Evolving roles  ompany. Interim m Interim managers were traditionally used by asset  com a  anagers may be engaged to help steer a tion. finance companies in times of distress, perhaps to  a ne p w-s n t y a  t rt h   r o o r  u a g  n h  e a w     m in a i j t o i r a   t c iv h e a , n  a g c e, h   i s e u v c i h n   g a   s a  l n a   u ac n q ch u i is n i g -   A wealth of ex erience cover the unexpected or sudden departure of a senior  tion or merger, integration, downsizing or disposal, Interim managers p are often over qualified for the job executive, and primarily to hold the fort.  turning a business around or, worst-case scenario, and it is probable that there is nothing that they have Tday, interim management has evolved to the  in surv extent that experts are available to cover a wide and  ensurgival.  ed to imlement  not seen before. They do not need a learning curve  diverse range of roles and specialist areas. Interim  ing T  o h r e  t y o     m ch a a y  n b g e e     r b e u q s u i i n r ess cultur p e, to help a     b r u e s s i tr n u es c s t   u o r r -   a ea n r d l   y c  i a m n  p st a a c r t t     o t r o     d c e o li n v tr e i r b  r u e t s e u   l r t i s g . ht away, and make an  management has great potential for companies to  team development, for crisis management, for men- An interim manager can provide a fresh, unbiased make the most of the fast-moving business environ-  toring or to lead specific projects. They may step in view and is focused on the objectives set him. He   ment. cted  e As companies have come to appreciate the benefits  f a o g r e  an unexpe dparture or to ease a skills short-s b h e o ca ul u d s   e  b h e e     t i a s  k i e m n  p i a n r t ti o a   l  m a a n n d a   g hi e s  m a e s n se t’ s s s  c m o e n nt f   i o d f e  t n h c e e     . of using interim managers, they are now making  Some interim managers offer general advice and business may prove invaluable. Indeed, he may be greater use of them on a plann  i usiness’   ly when something unforese ng bo ta a n r t d     s f o o u r a bthe only person that management knows who has  may be limited by not having  imporr h ce e  of fres d h e     previously undertaken the task or project in ques- skills, or they may be too b ri e s n is t     t te h a ey m     c t a h n r   ou l g p h     g d u i i ffi- t i i t o y  n t . o     A ta ss p e  i t  n f t i o n   a m nc a e n  c a o ge m m p e a n n t i   e t s a   l t e h n a t t     o le n v  a er n a  i g n e t   e t r h i e m ir     b a a b s il is -   commitments to achieve th  ions. are now realising that this may help to give them a tives. competitive  advantage. Although the term use h the cost Bein results describe people engaged on  st m ers know when  g -driven, an interim manager is as interim basis is ‘interim mana t e o tap  a i n nt a o g  external exper-o m b o je ti c v ti a v t e e . d     W as e     t c h a e  n c  e o x m p p e a ct n   y i   n t t o e   r a i c m h   i m ev a e n  t a h g e e   m de e s n i t r   e t d o     many of the assignments a tise or supplementary increase in popularity, particularly in today’s volatile director level.  resources to add value. and demanding times. Given that interim man- Valuable benefits hand- ic Interim management is ena- f a o g r  e t r h s e     a ta r s e  k and th p at i k t e i d s    hTA tlT eh  fomrnachai is thore au  ehtessAsros ot yr ’e Industt Financy a Group, ‘Advi-  

42I September 2008

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