The Risks of Hiring an Interim Manager

An interim manager is usually employed because a company is experiencing a form of crisis. This could simply be a short-term skills shortage or it could be because a dramatic change is required in order to change the fortunes of the business. In these times of crisis, every decision carries added importance and every choice carries risk. The appointment of an interim manager could be considered as a last resort, but it is a calculated gamble. No matter the outcome, the appointment of an interim manager will affect the future of the company. The key to maximising success is choosing the right candidate.

Why use an interim manager at all?

Many will question the validity of using an interim manager. Some will think that they will simply make drastic decisions with short term benefits, as opposed to keeping a long term outlook as those attached to the company would. While that is a laudable view, the reason transformation is required is because of some failing within the company, and potentially a lack of skills among the top executives.

Knowing a company isn’t necessarily an advantage in change management situations as attachments and sentimentality can cloud judgements.  Interim managers can bring fresh perspectives to a business and a singular agenda. They are highly adaptable and use their experience to make sound decisions in the short term to provide long term benefits.  

What are the risks?

As with any position, it is imperative that the right candidate is selected. The big difference with an interim manager is that the stakes are significantly higher. Although the scope of the assignment will have to be determined, appointing an interim manager could be the last roll of the dice. Essentially, the appointed interim will be placed in charge and any changes they implement will have long term consequences.  With the right candidate in place, these changes will have a positive impact and set the company on a course to success.

Weighing up the costs

An interim manager is not a cheap option. These are specialists with a proven track record in transforming businesses for the better. Although keeping a business running and making profit is the primary objective for any Chief Executive, when choosing an interim manager, the cheapest option is not always the best. There is a reason that the best candidates have a hefty price tag – they are specialists that can guarantee results with a track record to prove this. While picking a less experienced candidate may provide the desired results, it represents a considerable risk.  For the results they provide, a good interim manager is worth every penny.

Picking the right candidate

Sourcing an interim manager through Momenta can bring a range of distinct advantages to your business. Momenta have decades of experience in placing the right people into positions where they can deliver the best results. We have a network of thousands of potential candidates who can step in to any project at short notice. Whether you have a short term skills shortage or your business requires a radical change, our experience means that we place the right candidate in the right role every time.  Each interim manager will have a proven track record across multiple sectors and a desire to deliver results quickly and efficiently.

Once Momenta have provided prospective candidates, it is important to conduct a personal interview in order to gain assurance of their experience and to discuss their approach to the assignment at hand. With expert guidance provided by Momenta, the risks attached to appointing an interim manager become minimal.

To find out how Momenta can help you find the ideal interim manager, call us today on 0207 374 5610 or email us via our contact page.