Interim Management

What is Interim Management?

Interim management refers to the temporary assumption of leadership responsibilities within a company. Depending on their individual professional backgrounds, interim managers fulfill various roles, such as serving as temporary CEOs, COOs, CFOs, or CHROs. In doing so, they bridge operational gaps or fill personnel vacancies. Their assignments typically last no more than one year.

Interim managers are typically distinguished by their specific expertise. This expertise can be applied in the context of new projects or change processes within companies and organizations. They offer companies and organizations targeted support and reinforcement during periods of skill shortages and during critical change processes. To bring about desired changes efficiently and effectively, they develop goal-oriented strategies. To do so, many years of professional and project experience, as well as industry and subject-matter expertise, are essential.

One advantage for companies is that interim managers can offer an independent outside perspective that internal managers and specialists do not have. In addition, interim managers can work largely independent of organizational structures and loyalties.

What skills should interim managers have?

In addition to comprehensive business management knowledge, interim managers should, above all, have experience in crisis management. Interim managers should also be able to quickly familiarize themselves with new subject areas. Based on the available information, they must then make decisions quickly and deliver results promptly. To explain measures and convince stakeholders, interim managers should also possess strong communication skills. Furthermore, an analytical and solution-oriented mindset is essential.

What distinguishes interim managers from management consultants?

Unlike management consultants, interim managers are held accountable for the results of their work. While consultants focus on analysis and strategy, interim managers take on operational and leadership responsibilities. In practice, however, the lines between a consulting engagement and an interim project can be quite blurred.