Recently we met a senior Canadian executive who was fresh back from 2 years in Europe.
He commented that as far as he could tell “interim management” is still largely misunderstood and “off the radar” for many Canadian companies.
That is not the case in Europe. Driven by different tax codes that made employing and parting with senior talent unaffordable (here, it’s merely really expensive), interim management is now standard practice in most industries.
So, what is interim management? It’s difficult to do better than the Wikipedia definition: “Interim Management is the temporary provision of management resources and skills. Interim management can be seen as the short-term assignment of a proven heavyweight interim executive manager to manage a period of transition, crisis or change within an organization. In this situation, a permanent role may be unnecessary or impossible to find on short notice. Additionally, there may be nobody internally who is suitable for, or available to take up, the position in question.”
That pretty much covers it. Interim Management is heavy-weight talent on short notice to manage a some kind of corporate transition when nobody internally is suitable.
From an employer perspective there are many benefits of an interim management approach to engaging talent.
Cost is a big one. While the daily rates and project costs of senior interim managers aren’t cheap, Interim Managers aren’t on the payroll. And they don’t hang around forever. When the assignment is done, the Interim Manager is done.
Finding interim management talent in Canada is getting easier. At Boardroom Metrics we don’t just source experienced achievers. We work with them on almost a daily basis, engaging them in our business, teaching them new skills and coaching them on best practices.
When they work with a client our Accomplished Executives (our Interim Managers) are backed by an entire team. That’s important because few interim projects are one-dimensional and accessing other expertise quickly is a key part of success.
What are you engaged in? Who are you hiring? Why? Have you considered the benefits of using an accomplished Interim Manager instead?
More Information on Boardroom Metrics Interim Management Services
At Boardroom Metrics, all of our interim managers are experienced, accomplished executives. They have run companies and built successful businesses in a wide range range of industries. All of them have a wealth of knowledge and experience and a desire to help businesses succeed.