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Interim management is the temporary supply of an individual with management expertise into an organisation. These individuals are referred to as 'interim managers' and will typically be experienced business leaders who are able to manage an organisation through a period of change or transformation, provide stability to a business following the sudden departure of a senior leader, or provide a highly specialised skill set which a business may not have internally.
An organisation may choose to pursue the interim management route because the role in question is not a permanent position or a permanent executive/manager cannot be found fast enough.
Interim managers are typically hired for three to nine months and help organisations who are undergoing major change, trying to implement a critical strategy or are looking to plug a critical management gap.
Senior interim managers are typically highly experienced in a number of functions, and as a result are often adaptable to a range of situations. Typically interim managers are used:
Being a good interim manager is not the same as being a good corporate manager. Whilst interim management can be incredibly rewarding, with the opportunity to work on a wide range of projects alongside talented people while earning a lucrative day rate, it is also a challenging environment which is not for everyone.
If you are thinking about an interim career, take our short quiz to see if you'd be the right fit for interim.