In our Guide to Interim Talent, we look at the reasons why a business may use interim talent and the benefits in doing so, and we also consider the drawbacks and the instances when interims really won’t work. Plus, we explore the relationship between the client (business), the interim provider and the interim, and look at how we expect this market to evolve over the coming years.
Here we share Part 5: The Downsides of using an Interim Manager
We’d argue there aren’t many downsides to hiring interims, but there are several misconceptions including cost, commitment, and knowledge retention. It’s true a good interim won’t come cheap, but under the correct circumstances, you will achieve a significant return on investment. The very best interims aren’t money motivated – they’re interested in good, challenging work and price accordingly. And we know first-hand that when the job is done, they’ll say so, and won’t hang around costing you money. Furthermore – dare we say – independents cost less than management consulting firms.
We’ve heard concerns about the level of commitment from interims, and for us, this comes back to a couple of things: the quality and professionalism of the interim, and the nature of the engagement. A good interim has become their own boss, is responsible for developing their business and managing a client base – they are professional, committed people
We get asked about the vision, the values, purpose, and objectives of the organisation from interim candidates just as frequently as by permanent candidates. So, whilst on assignment with you, the best interims will buy into your organisation and will aim to create enduring value. If you’re looking for something more than this, it might be worth considering whether or not interim is the right solution.
Knowledge retention is occasionally and understandably a concern for business in hiring interims. We’ve seen this overcome very simply through governance, well-documented assignments, and by embedding the interim effectively into the wider team.