The idea of interim management was introduced in Netherlands in the 1970s during the time the country is experiencing an oil crisis. Because of this the need for a highly trained and efficient management team was launched that saw the creation of executive interim management. It spread out instantly to other countries. For instance, in Europe, the popularity of such approach has increased steadily. The most stable employer of interim managers is the public sector. The interim and management recruitment usually takes place if a crisis takes place in a company and the present staff was not able to deal with the problem. If the company is having major business issues, for instance failure and losses to meet the business aims, interim managers will be hired. The question now is who is interim manager?
An interim manager is specialized person in business issues who is hired on a short term basis with the objective of providing solution for the present business problem. The amount of time and resources allocated in recruiting a manager on regular basis is cut off. The manager reports directly to his employer.. It assures efficient feedback on the task the manager is doing.
Unlike management consultancy, interim management involves the actual implementation of the business strategies by the interim manager. This means that whatever business strategy the interim manager comes up with, he will be responsible for their implementation with the aim of solving the current business problems. It is therefore a "safe" strategy for a business to employ an interim manager to solve any short term business problems that the company may be facing.
The executive search for interim managers is based on their previous achievements. The employment of the manager is on individual basis unlike management consultants who work through an agency and get their employment from the agency's reputation. Interim managers therefore work hard to accomplish the assignments given to them by their employers since this will go a long way to building their careers . They will therefore work efficiently to cut the costs and improve the effectiveness of the business. Those specialised in marketing will come up with strategies that will improve the sales of the company's products.
Interim management is therefore a great means that businesses can use to tackle problems they may face and achieve appropriate solutions at minimum costs.
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