Interim Management Jobs
Interim Management Jobs are becoming more and more prevelant at present, in part for two major reasons:
- Companies strategies are now more project over production orientated
- Executive want to both retain control of their own career, as well as retain a high level of earning ability
But what does it take to become an interim manager, and then a successful one?
What is Interim Management?
Interim management, in business terms, is a bought-in expertise that can deliver the required business change. Hence you are not an employee, but a supplier of professional services.
Becoming an Interim Manager
Your whole positioning and personal brand, and all media including your Executive CV, needs to be focused around on time and to budget delivery, much like that of a Project Manager. However, additionally there needs to be focus on people management skills.
There are no particular markets, functions or board grades that could not be covered by an interim manager, its more about the change-need situation of the organisation that creates the need.
Anyone with board or senior level management experience can become an interim manager, so what do employers and agents/headhunters look for?
Key Interim Management Skills
Interim manager clients look for some specific skills, but as always its about positioning: X in a Y market. As well as the normal business positioning statements (start-up, growth, profit imporvement, hange management, save the titanic), the following are key search-term phrases:
- Business Process Reengineering
- Closure
- Management buyout or management buy-in
- Merger and acquisition
- Organisational development
- Post-acquisition integration
- Relocation
- Restructuring
- Strategic planning and turnaround
Key competencies in business and people skills are vital in interim management, so highlight particular strengths in any of the following:
- Planning and organisation
- Adaptability
- Results orientation
- Coaching and mentoring
Setting yourself up to be an Interim Manager
As we bloged about last week, it is well worth while undertaking a market test to assure yourself that jobs in your desired skills sector actually exist.
Once you have your Executive CV, then other essentials include:
- Professional Indemnity insurance (PI): in place to cover any claims arising from negligence, professional misconduct or health and safety infringements. The level of PI insurance should be appropriate for the level of risk attached to the assignment; typically £0.5m upwards
- Limited Company:typically like most contractors, most interim managers operate via their own limited companies. It is best to approach an account who can provide advice on this, as well as invoicng, plus pension and tax planning
- Operating procedures: you need to set-up operating procedures, that should cover: terms and conditions of engagement; weekly time and expense sheets; invoicing
- Communications tools: your communications tools should include: a mobile phone with personalised voicemail message; a personalised eMail address, and ideally website; a two-sided business card, that includes contact details and full list of qualifications on one side, and summary personal statement on the other
Interim Management development
One of the things that many interim manager forget, is personal development. This can be addressed in three ways:
- Project Choice: the skills and results to sell you into your next interim management job are already written on your existing CV. A strategic choice of offered projects gives you the depth and diversity of skills to gain your next position
- Society membership and seminars attendence: clients are looking for interim managers to add value to their organisations, so it is important that they are abreast of new trends in management thinking and methods. Joining one of the major interim management societies, keeping up membership of your own professional body, and attending keynote seminars and conferences will enable the continual development of both your knoweldge and skills beyond project deployment
- Continuous Personal Development (CPD): although most interim managers are generally very experienced, it is important to maintain and develop skills and personal development. Once out of mainstream corporate life, an interim manager may find that they miss out on regular training and courses. Most professional societies now offer CPD programmes
Interim Managment Recruitment
I will blog more about this next week, but the only volume way into interim management positions is via the various head hunting and interim management agencies.
Being a successful Interim Manager
You need to build a credible interim management Executive CV. Wherever possible document an assignment showing quantifiable deliverables. It is imperative to specialise so that you play to your strengths and build up a good quality interim management CV.
Interim Management consultancy
Once on assignment, ensure good formal communications with the client and manage their expectations throughout the duration of the assignment. This will not only ensure prompt payment, but also assure all parties of common/secure communication. Methods should include:
- Project Plan
- A monthly report
- Maintain a day book / log of activity
Good interim managers can earn good money and build up solid personal and business etwork opportunities quickly. Realistically, first employment probably comes from your existing network, and although you may be lucky, the first year will always be a learning experience, where most often you will find yourself applying for positions as much as doing interim management projects. Looking on success as being measured over two years, and not the first six months.
Good Luck!
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