Interim managers are simply highly experienced senior executives appointed in short-term basis. Interim manager often work in day to day paradigm. Since they have to trouble shoot temporarily, they are required to be efficient enough and should possess specialization in the particular field.
Interim management being relatively a new concept is yet to be spread globally. Interim management in its simplest form is the hiring of any experienced professional for a short period of time. The concept of interim management is getting popular everyday owing to fact that such they are capable of filling unexpected gaps, for propagating changes, and for bringing integrity during transitional times.
Though the term interim management implies to some transitional management, but in reality they have to deal with wide range of activities. In crucial situations like exit of any key member, or when the management needs to be rebuilt, interim managers are called upon. Taking care of the overall finances, the interim managers have to provide expert leadership in order to achieve the desired objectives. It is the role of the interim management system to provide guidance and train the staffs for development according to the demand of the situation.
The concept of interim management is quite different from that of the traditional management system. They are generally apt professionals and have considerable experience working as managers. Therefore they not only have to offer strategic planning but also turn up with innovative ideas keeping in accordance with the sanctioned time limits.
In times when a firm is going through difficulties, the interim mangers have to play the role of turnaround managers solving problems, or sometimes only dealing with some particular projects as per the contracts. During some transitional phases like acquisition, merging or discarding, the experience of the interim management team comes into play.
Since they are only hired for a particular transitory period, they need to quickly adapt themselves with the existing corporate culture. Getting familiarized and providing leadership qualities and also motivating is quite a tough ask for the interim managers. Therefore they need to be highly skilled and should be comprised of considerable amount of resources.
Interim management does not only have to supervise a one-off projects, but in most of the cases has to handle multiple projects. The role of the interim managers does not conclude in just delivering quick and appropriate solutions.They have to even guide clients properly who are thinking of some supplementary companies. Filling the gap between a manager’s temporary departure and the subsequent recruitment in future, the interim managers facilitate the continuation of the company’s normal processes.