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What is Interim Management?
Interim Management is a temporary type of business management (interim is Latin and means "meanwhile" or "for the time being ").
The concept and use of Interim Managers as a resourcing tool for organizations helps to reduce costs and to solve problems or to find solutions in a particulary short period of time. Interim managers assume responsibility for their work in a line position or in projects. They leave the company or the occupied position as soon as the problem is solved, for example when a stable new company or area management is established, or after completion of the project in which they were active.
Interim Management emerged in the 1970s in the Netherlands and made it possible to make the regional labor market more flexible. Notice periods for employees were very long and many could not respond to market changes without significant costs. In the 1980s, this model was adapted in the UK and slowly also in Germany.
Until a few years ago, Interim Management was strongly associated with rehabilitation; here are the origins. However, the range of interim functions has meanwhile expanded significantly. Almost all functional areas in companies today are filled with interim managers. Interim Management is spread all over the industries as automotive, the health care industry, mechanical and plant engineering or the energy industry. A size restriction to corporations is not observed. An increasing number of Interim Managers are also active in the area of owner-managed SMEs.
From an entrepreneurial point of view, as is often the case, the costs of an interim manager are not
important, but the value of his intervention. This is generally referred to as the ROI (return on investment): what costs does a position create, what is its profit? An interim
manager can also be considered as an investment that can prove its meaningfulness in the form of the so-called RoIM (Return on Interim Management).
The bill is simple: how much cost, how much profit did the interim manager cause? A study by the Helmut Schmidt University states that 86% of the missions have achieved a clearly positive return on investment; significantly more profit than costs. Ludwig Heuse GmbH came to the conclusion that 85% of the stakes brought more than twice the cost, 20% of which even more than ten times!
It is the clear goal of an Executive Interim Manager that the costs of an interim manager have already been amortized several times during the project period in the form of a demonstrable added value.
Customers confirm the good price-performance ratio especially when considering the immediate availability and the very high level of qualification and experience of the interim manager. Compare the costs of the interim manager with the economic result, this price quickly relativized to a very attractive price-performance ratio. Often you hear statements like this: "The costs were generated several times in the form of an economically measurable added value, so that it was a sensible and advantageous investment." Why? Because the client gets a professional expert who is the best candidate to be entrusted with such tasks.
© 2019 all photos by photographer Victor C | Smartistic Website
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