How does interim management work?
Interim management is the temporary hiring of an executive to provide management resources for an organization, often during times of transition or change. One scenario where interim management would be very valuable to an organization is when a marketing or sales executive leaves a company. Instead of leaving the position vacant while a permanent replacement is found, which could take months, they can hire an interim manager to maintain or grow marketing or sales productivity. There are several other useful applications of interim management such as bringing in an experienced executive to develop a strategy to overcome flat revenues and get the company growing again, or to provide the specific expertise to tackle a specific problem in sales or marketing.

How to Find a Interim Management Executive
Experienced marketing and sales executives with a proven track record are difficult to attain, even in a recession. You could tap into your network and find an executive that is currently out of work and who is willing to take on an interim role, pay a headhunter, or post the opportunity on a job board. But the best way to find an interim management executive is probably to contact an interim management company. These companies have a diverse network of experienced professionals with specific skill sets or experience to fit the specific needs of your company. They are also accustomed to working on interim engagements and are not just looking for a paycheck until they land their next job.

How to Set up the Interim Engagement
After you have found the right individual to take on the interim role at your company, you will need to establish the scope, goals, and compensation. Define clearly what the pain or opportunity you want addressed. Describe what a successful outcome of the interim engagement would look like. Discuss specifics such as expectations, limits of authority, and time they will be on site. You should also agree on the details of the compensation, whether it will be based on time or based on results such as sales growth over the next year.

To learn more about interim management, you can visit OneAccord’s website or email us at info(at)oneaccordpartners.com.

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