15 Benefits of Hiring an Interim Manager
As we have already addressed in other articles, Interim Management is a contracting modality that is being increasingly used and is more necessary day by day.
Companies must base their survival and evolution on efficiency and competitiveness in a world that in the current era is made more complex, both by technology and by the lack of adequate human resources with sufficient commitment to carry out business in the short, medium and long term.
Next, we briefly develop each of the benefits that are obtained by hiring an #InterimManager, but the important thing is the combination of all of them. Some of them are applicable to any facet of this type of contracting, and others are specific according to the type of solution to be adopted:
1 – Contribution of knowledge of high added value
An Interim Manager is a source of knowledge and skills achieved in many years of experience in various companies and geographies that the organization will have at its disposal generating incalculable added value during its management.
2 – Broad-spectrum vision
The trajectory and experience developed by an Interim Manager, gives him a much broader spectrum of vision than that of a permanent executive, since he has gone through many more companies that bring him diverse experiences both at the level of businesses and organizations, cultures and geographies. This allows you to easily visualize new markets, new business, adaptation of efficient processes from other industries or any tool that has already been tested and allows you to succeed in your management.
3 – Fast and efficient Onboardinge
An Interim Manager has such vast experience in various companies in fulfilling their mission to play a specific role and project, which makes their incorporation and adaptation to a new organization fast and efficient, by the very nature of their function.
4 – Maximum focus and fulfillment of objectives
An Interim Manager is very clear that his prestige and professional growth is based on achieving certain objectives in a very limited period of time, so he can not waste time and must have a strong focus on the tasks he must develop.
5 – Effective professionals, with experience and fast to manage the resources of the company
A professional of these characteristics knows that he must be effective through the use of all his experience and knowledge, managing as quickly as possible, the resources that the company has in favor of the achievement of the objectives that have predetermined him.
“An Interim Manager is very clear that his prestige and professional growth is based on achieving certain objectives in a very limited period of time, so he can not waste time and must have a strong focus on the tasks he must develop.”
6 – Flexibility to adapt to the requirements of the position
In general, an Interim Manager has significant experience in various companies and that includes adapting very quickly to new organizations and the requirements presented by each new challenge proposed by a new assignment.
7 – The best Cost/Benefit Index
Since this executive is a temporary hire, it does not imply business contributions of taxes and a high value-added #management is obtained in return with the consequent transfer of knowledge to the organization, which is an immeasurable benefit with respect to its cost.
8 – Managerial talent without limitations in the headcount
In many cases, especially in multinational organizations, there are limited limits on the number of personnel according to the company’s turnover levels, but as the link with the Interim Manager is a contract with third parties, it is possible to have a Management Talent without impacting the headcount of the company.
9 – Great flexibility with minimal risk
This type of hiring allows the organization to see how the professional fits with the function, values and culture of the company, being able to assess the return on investment and the possibility of permanent hiring, always in a context of minimal risk.
10 – Objectivity and truths without turn
These professionals are hired and evaluated for their results, so they do not have any restrictions when having to challenge the current business model, request critical information or question the status quo, in fact, for that they have been hired. Additionally, these executives are prepared to perform analysis of situations with total objectivity, since their priority is to achieve the objectives, not in a long-term professional career in the company.
11 – Network of contacts as a key factor
Typically, an Interim Manager has a strong network of contacts in both the local and international markets. This allows the company to access various strategic points of contact that can be very useful in various areas of operation and / or positioning of the business.
12 – Crisis management
An experienced Interim Manager with an international career has surely handled crisis situations of varying magnitude. In fact, if he has held CEO positions in multinational companies, the vast majority train their executives in #crisismanagement because they are in continuous exposure to them. Obviously, when hiring an Interim Manager, it is important to validate how much experience you have in real situations of that style and what your results have been.
“Are hired and evaluated for their results, so they do not have any restrictions when having to challenge the current business model, request critical information or question the status quo, in fact, for that they have been hired. “
13 – Competitive vision
In the case of wanting to venture into a new market with which the company is not familiar, it is often convenient to incorporate an Interim Manager who knows that market, its trends and the competition. Their specific knowledge of it can provide strategic information tailored to the growth sought and generate market share, as well as contribute their experience in a more solid creation of marketing and sales plans, properly establishing pricing structures.
14 – Credibility
In the case of start-ups or companies with a low level of market positioning, an Interim Manager with recognition in the market can generate credibility, being able to provide facilities to attract investment funds, collaborative partnerships, as well as increase the portfolio of clients.
15 – Financial skills
An experienced Interim Manager bases his management on the financial tools of any company, such as cash flow management, profit and loss reports, financial statements, balance sheets and working capital management. But beyond that, it has the ability to manage relationships with financial institutions that can prop up the company, relations with investment groups or various sources of financing that have not been previously considered.
When the advantages of using this type of solutions are analyzed, there is no doubt, because in developed markets it is such a widely used practice and based on this, the results observed in terms of the recovery of the economies of these markets in really very short times.
Unfortunately, the countries of Latin America are still far from adopting this type of solutions in an appropriate way and measure, and because of this, the economies suffer from the lack of growth and exit from the crises that impact us in recent years.
#pablolieker #management #interimmanagement #leadership #innovation #management #businessstrategy #businesstransformation #i-nnovagroup