Career Experiences In The Interim Management World

Interim Management can often be a very exciting and rewarding career. Benefits include working in various business environments, being able to have some control in one’s working life, including being able to have breaks between assignments.

There can, of course be negative aspects too, including having highly pressurised working environments, potential insecurity and the separation from family life.

Here are just a few typical examples of ‘Interim Management’ roles.

A manufacturing director with some managing director type roles was made redundant when his company was taken over. He subsequently floated his C.V around and it was noted by a search and selection company, who sent it to their ‘Interim Management’ department. They contacted him and thus followed a lengthy career in ‘Interim Management.’ He enjoyed the excitement of the work and tackling specific problems, which had to be solved rapidly. He remained working in this area for several years. It suited him to have breaks, after assignments so he could spend time with his family etc. However he was very aware that no matter how he felt about his own ability,’ you were only as good as your last job.’

It’s usual to set up a limited company as the ‘self-employed’ life brings with it lots of paperwork and accounting, this can be tricky initially, as when working for a large organisation, there is always someone to see to supplies, stationery and post etc., It’s useful therefore, to be handy to the local post office.

Another ‘ Interim’ candidate initially started as a management consultant, but didn’t actually find the work stimulating as he didn’t like having the ‘hands-off’ experience. He thus enjoyed the stimulation provided by the ‘Interim Management’ lifestyle. He felt it was rewarding to go into different organisations and cultures, leaving a much better environment than the one he initially found. He discovered too, that the brief he received from the client’s company chairman or CEO didn’t necessarily fit the circumstances he hitherto found. Being an outsider one is able to view everything dispassionately and are able to bring a new understanding from the situation. There can of course be downsides too, to this way of life. There is normally a very high workload initially and there is a certain amount of working against the clock and information needs to be gathered very quickly as an ‘Interim Manager.’

Specific skills are required for success. Broad experience is needed for the discipline and you have to be extremely self-sufficient. When you have a view of what is needed to be done, you must be prepared to put it forward, defend it and make it happen. There can be no compromises. A secure emotional and financial backing is needed to be able to demand the assignment being done in a certain way, without compromise; if not liked, volunteer to be shown the door!

Another example of an ‘Interim Manager’ was a graduate in mechanical engineering. His career progressed through a series of positions in sales, product development and general management. He landed his first Managing Director’s job in 1978. Several more MD positions followed afterwards. He then decided to look for for a non-executive directorship through venture capitalists, but found a taste in ‘Interim Management.’ When a venture capitalist firm asked him to TEMPORARILY run an investee business that was in trouble, he never looked back; as soon as he had the work he thought that that was the life for him.

He was constantly busy for a further three years. His various ‘Interim Management’ roles required him to :- streamline businesses, put under-performing operations into shape prior to sale, design and implement wholesale business reorganisations, conduct business audits and develop and implement new marketing and operating strategies. The life suited him. He liked the buzz of tackling difficult problems that he hadn’t created and so then the business could be handed over, giving time to wipe hands and go off to play golf for a week or two, after which someone proposes something new and exciting. It is interesting and stimulating work. The greatest gap between roles was for months and the shortest, two weeks.

‘Interim Management’ is a far from easy job, being extremely demanding and maintained that his twelve years ( before he retired ) was the equivalent to about 20 in terms of mental energy. It was similar to running a hundred miles an hour for too long – you run very fast, then have a period of relaxation and then ‘you run like hell again’ You have to be able to walk in on the first day, for people to say “this chap knows what he’s talking about.” One has to be an extremely good communicator and listener. On entering an assignment encouragement is needed for people to talk about the situation, so that you can quickly gain insight as to what’s going on. Together with broad experience, accountancy expertise is essential for an ‘Interim’
managing director. An ‘Interim Management’ career is invaluable training for the non-executive role,

There are certainly more sacrifices that have to be made in exchange for the benefits of excitement, challenge and variety; as with other careers,’ Interim Management’ isn’t for everyone, but those up to the challenge can expect plenty of fulfilling work.