Interim FAQ
Frequently asked questions about interim management
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What is an interim manager and when does it make sense to use it?
As an interim manager, I act as a "temporary manager", i.e. as an external manager on a temporary basis. I take responsibility for my work in a line position or in projects. My absolute loyalty is to the assignment, not (anymore) to my career. I'll leave the company as soon as the problem is solved, of course without severance pay. Interim managers are basically active in all sectors and from owner-managed medium-sized companies to corporations. In Germany, a high demand for managers began in 1990 as East and West grew together. Initially, an assignment was usually associated with crises or restructuring. Today it's more about a temporary lack of capacity or a lack of know-how. Typical uses e.g.
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Bridging vacancies for the period in which the new manager has not yet found a permanent position or has not yet started.
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Management in the turnaround as "fire brigade" in crisis or restructuring, in restructuring, closures or liquidation of companies, also in the area of succession, M&A and due diligence.
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Projects with special knowledge for selected topics, such as post-merger integration, digitization etc.
What does an interim manager bring and what are the benefits?
The interest group for interim managers in Germany, the umbrella company Deutsches Interim Management (DDIM), has strict quality criteriafor professional interim management services. The DDIM membership is considered in the industry as proof of high quality and competence in interim management. As a DDIM member, I have been active as a manager in responsible positions at the first or second management level for many years and have been responsible for results and/or management. ContinueI have project experience in interim management or have demonstrably taken on activities comparable to interim management as part of your previous permanent position. The advantages are e.g.
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the company can react very quickly to internal or external situations with interim managers.
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no competition for internal managers, since loyalty serves the task and not one's own career.
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Personnel development effects, because an interim manager brings new approaches
Interim Management - Expensive fun or worth every penny?
Basically, as an interim manager, I charge a previously agreed daily rate for the times actually worked, plus additional costs such as travel and accommodation costs. As a rough guide, the daily rate is about 1% of the annual salary of a comparable permanent employee. Ultimately, however, the daily rate depends on the management level, the requirements of a project and the market situation. Compared to a permanent position as an independent interim manager I bear my entrepreneurial risk completely alone and times without a mandate must also be taken into account in the calculation bad5cf58d_ There are no costs for vacation, illness, further education, pension, social security contributions, severance pay, bonus, company car, overhead, insurance, etc. The daily rate model is easy to calculate, fair and worth every cent, because the first successes are quickly visible due to existing experience and methodological competence. It is usually more expensive not to use an interim manager.
How do interim managers and consultants differ?
Interim managers and consultants differ in their approach and implementation of solutions. While a consultant analyzes theoretical approaches and develops concepts with recommendations for action that are implemented later, an interim manager is characterized as an experienced practitioner. He quickly recognizes deviations and challenges and implementation begins immediately “hands-on”. Quick successes, so-called “quick wins,” quickly become visible.
As an interim manager, I not only act as an advisor, but also as an active part of the team. The implementation of concepts takes place in close collaboration with the team and is based on practical instructions. The focus is on concrete results (resulting) as opposed to pure advice (consulting). Through this direct integration into the company, the interim manager can better understand the specific needs and challenges and implement effective solutions.
What are the advantages of a supervisory board?
The use of interim managers offers the supervisory board various advantages:
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Short-term resource procurement: If there is an urgent need for action, the supervisory board can recommend experienced interim managers in order to react quickly to critical challenges without lengthy recruitment processes.
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Support with strategic initiatives: Interim managers can help implement strategic measures such as setting up shared service centers, optimizing the supply chain or introducing ERP systems, especially when resources are limited.
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Recession and economic uncertainty: Interim managers play a key role in crisis management, restructuring measures and can temporarily fill board positions to stabilize company management.
Overall, the use of interim managers is a versatile tool that enables the supervisory board to react flexibly and resource-efficiently to complex challenges. This helps to ensure the long-term success of the company, and the supervisory board should actively use the potential of interim managers in its advice and supervision.