What is Interim Management?
Interim management is the temporary provision of management resources and skills. These short-term positions vary in length depending on an organization's needs. Assignments can last anywhere from a couple of weeks to 18 months. They arise from a number of different scenarios in which a business has a need for high-level, experienced management expertise that can be engaged quickly, efficiently, and without long-term obligation.
A career in interim management is dynamic, challenging and often very rewarding, both in terms of job satisfaction and remuneration. Interim work also offers great variety, a degree of insulation from corporate politics, and flexibility around work and time off. As such, many professionals have achieved highly successful careers within the interim market, moving continuously through a series of assignments in a number of businesses.
We work closely with our interim managers to ensure they are well informed about the interim management marketplace and understand how we work. Below are some issues to consider as well as advice regarding this unique career path.
Top 3 tips for starting a career in interim management
1. Research the industry: Gain a good understanding of how the interim management industry works. It will require a wholesale change in mindset. You must be prepared to network, sell yourself, and react quickly when opportunities arise.
The work can be unpredictable. It is inherent in the interim employment arrangement that you will not receive many of the benefits of permanent employment, such as holiday pay, sick pay, and medical insurance. An interim career will often demand flexibility on location, as you may be required to live away from home during the week or undertake long commutes. Interim management has its own rewards, however: A career in interim management is varied, challenging, offers significant flexibility, and can be highly satisfying.
2. Prepare your CV/resume and start networking: Your CV/resume is your primary opportunity to make an impression. Your goal should be to present your background completely yet succinctly. If you have not undertaken an interim role to date, highlight any projects or programs you have been responsible for that were 'interim' in nature. Connecting with Boyden interim management is one step; you should also utilize your own professional network, have an up-to-date a profile on LinkedIn, and use the site as a networking resource.
3. Understand the terms. Interim managers are independent contractors, not Boyden employees; nor do they have any type of direct employment relationship with our clients. At the end of the calendar year we issue 1099 forms to our interim managers. Also, interim managers are only under contract when on assignment. We encourage our interim managers to seek other opportunities during timeframes when they are not under contract with us in order to continue to deepen their skill sets and broaden their networks.
Boyden interim management will require you to sign a disclosure agreement before sharing details about a potential assignment. The purpose of this agreement is twofold. First, it protects our client's data and ensures confidentiality. Second, the agreement requires that you confine your pursuit of the assignment and the client to joint efforts with Boyden. Background and reference checks are required for all deployed interim managers.
If you have considered a career in interim management and believe it is right for you, we invite you to contact us.