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The Almighty Rise of the Interim Manager: Why Hiring an Interim is Vital in 2024

The last two years have seen drastic changes in the business landscape. With an unstable economy and a shift in interests towards the use of AI and Technology at work, businesses are having to be more agile than ever.

This organisational change has led to increased demand for senior interim managers.

Interim managers are extremely experienced professionals who can adapt quickly to change and who use specialised knowledge to solve issues, guiding businesses through periods of change, uncertainty, and transformation.

Why business leaders should seriously consider hiring an interim leader:

Business Stays on Track: Hiring Speed and Flexibility

In a fast-paced and uncertain climate, businesses are faced with unforeseen challenges that rely on strategic direction. If a senior executive leaves a business, then permanent recruitment will take time and senior management leaders have a notice of at least 3 months.

An interim manager can step in immediately and address the needs of the business, ensuring continuity of leadership, or even overseeing the delivery of a specific project whilst the existing team continues day-to-day activity. Although an interim manager is a temporary solution, they can provide leadership whilst you identify the right permanent leader to fill the role, ensuring a seamless transition when that person is found.

Interim managers are also highly skilled at navigating periods of change such as transformation or restructuring. which rely on professionals who are flexible in their approach to work.

Evolving Business Needs: Bringing New Skills to the Table

'Developing the next generation of leaders is the top challenge for 55% of CEOs.'

Whether due to a lack of interest in the responsibility that comes from Executive roles, or the simple fact that the new generation of leaders just isn't ready, the right interim manager could help alleviate the skill gaps in your team of permanent staff.

For companies who are looking to embark on a specific project or initiative, perhaps where niche skills and experience are needed, using an interim will bring a wealth of knowledge to the table that isn't readily available within the team. 

They'll play a critical role in forming strategic goals and provide continuity in operations relating to the project, helping to develop and execute it flawlessly. Not only that, but interim managers can support the wider team that will benefit from their expertise, offering the opportunity to learn skills relating to crisis management and periods of transition. 

Cost-effective: A Valuable Solution

The cost of hiring a permanent, full-time role is often higher than engaging an interim manager due to salary, benefits, and onboarding expenses. The advantage of hiring interim executives is that it offers a cost-saving solution as they are only paid for the duration of the project or cover.

Interims are also used to being hired at times of crisis and when they need to implement necessary changes. Therefore, the time taken to settle into a new role is far less than a new permanent member of staff. 

Proven Experience: A Fresh Pair of Eyes

Interim leaders bring a fresh perspective new insight and a new outlook to an organisation. 

They are experienced in integrating into new business environments with the ability to scale their skills to the needs of the wider company or team.

They allow companies to gain a new perspective on uncertainties, encourage innovation, and challenge the status quo. Career contractors and interims will have a proven track record that inspires the wider team with confidence.

Unafraid: Accountable and Laser-Focused

For companies looking for an individual who will work to self-managed deadlines and take accountability for their work, look no further than an experienced interim. 

Interims are usually hired for a specific time frame, and their approach is results-driven. By embracing an interim you can be sure of focus on the project and deliverance on all deadlines. 

The Future of Interim Work: A Secret Weapon 

Interim Management roles are on the rise which reflects the demand for professionals who prefer project work and who are already equipped with a wealth of experience. Interim leaders provide strategic and value-added support to businesses that can't utilise their workforce to embark on new projects. 

An interim manager can provide valuable knowledge to evolving businesses and offer a smooth transition to those looking to expand or transform. 

Ultimately, interim managers are highly regarded for their ability to deliver quick wins and provide a business with a competitive edge. They adapt quickly to shifting business landscapes and periods of intense change. They focus on delivering results and are vital to the 2024 market in which the need for professionals with established knowledge of technology, AI, and sustainability, to name a few, are in demand.