The provision of Interim Managers - the 'leasing' of a manager for a limited and fixed term period - developed rapidly during the 1990's and is now an accepted practice at many organisations.

Interim Management differs significantly from Management Consultancy. Consultants advise and recommend whereas Interim Managers advise, recommend and implement. They are "hands on" managers bought in to do a job often at short notice to achieve a high impact on a specific role or objectives.. They provide a pool of management skills and experience and are often required to implement change, to fill unexpected gaps in a company or to manage a project. Every successful interim manager will have previously been a senior executive, with a long and successful corporate career behind them. This experience enables them to go into an organisations on a short or medium-term contract to fulfil a specific leadership requirement.

Generally an Interim Manager will be leased to a company through an Interim Management Provider who will ensure that the Interim Manager is fully vetted and approved, with their qualifications and experience checked and references taken up. An Interim Manager will usually operate at executive and management levels in senior line management, specialist or project management positions. They can be taken on for as long as is required -  typically three to nine months or even longer - being expected to step immediately into a role or function being well qualified (even over qualified) for the position, requiring limited acclimatisation and training to get started. They will quickly get established in a role, deliver results, manage their exit and leave a lasting legacy.

As such an experienced Interim Manager can add tremendous value to a business during a time of need such as:

• During merger and acquisition periods
• Providing essential skills that are not currently in your management team
• Undertaking specific projects
• To cover during the recruitment of a permanent executive
• Change management
• Business improvement

What will it cost me?
Generally, an Interim Manager will operate on a freelance basis, being either self-employed or working via their own limited service company. All will have professional indemnity insurance and will be engaged by a client through an Interim Provider. They will be responsible for their own benefits package – their daily rate covers everything - so that as a client you only pay a fixed rate for the duration of the project, for the actual number of days worked.

Daily rates vary depending on the experience of the Interim, the nature of the project and market conditions; average rates start at around £500 per day and can go up to £2000 per day for a Chief Executive.  As an Interim Provider we charge a small margin on top of their daily rate, which is completely transparent, and there are no hidden extra costs. If you engage an Interim through us we will send you a monthly invoice and handle payment to the interim, and all administration.