An interim manager is usually appointed when a managerial role is left vacant due to an exiting employee, maternity leave, an M&A, or a major transition. It’s a critical position that will help navigate your team through a time of significant change.
If you hire the right candidate, an interim manager can bring many benefits, including:
- Providing a sense of stability through change management
- Bringing a fresh perspective, new skills, knowledge, and experience
- Being a cost-effective medium-term solution
- Improving productivity thanks to strong project management and leadership skills
It’s no wonder that as many as 90% of CFOs and FDs plan on working with an interim manager. Demand for interim managers will continue to rise globally as businesses go through significant change fuelled by digital topics, hiring challenges, and the COVID-19 pandemic. In some countries, the utilization rates of interim managers are as high as 73%. In Germany, the utilization rate will be more than 90% in 2022.
However, the benefits of hiring an interim manager will only materialize if you make the right choice. Here’s what you need to know to make the best decision for your organization and reap the benefits of a great interim manager.