@FreshBusiness: What is interim management?
@NickRobeson: Interim management is the provision of a senior executive into an organisation for a defined period, to fill a gap in management competence.
@FreshBusiness: What are the main benefits?
@NickRobeson: The speed with which you can get someone on board. Whatever the particular management issue, the executive arrives, grabs hold of the problem and makes sure results are delivered in a relatively short space of time.
@FreshBusiness: What are the risks attached to it?
@NickRobeson: Choosing the right person. There are an awful lot of people claiming to be interim managers in the market, but in our view there are only about a thousand full-time senior interim executives in the UK.
@FreshBusiness: How much does it cost?
@NickRobeson: Interim Executives operate on a daily rate basis which ranges from £800 to £2500 a day. It really depends on the scale and complexity of the project.
@FreshBusiness: What should you consider when choosing interim management?
@NickRobeson: Track record is the most important. Has the individual delivered a similar programme before? Have they the scars of experience that will help your organisation move forward at pace? It’s not about learning on the job.
@FreshBusiness: What skill sets does interim management cover?
@NickRobeson: Leadership, transformation, operational efficiency and niche expertise across the suite of management functions such as HR, finance, IT, etc. It comes down to a gap in competence in your senior management team.
@FreshBusiness: Isn’t a ‘gap in competence’ difficult to admit to?
@NickRobeson: It’s not incompetence. In fact it’s the opposite. A management team willing to admit their weaknesses will drive their business forward more quickly and more effectively than their competitors. That’s when they come to us.
You can follow Nick Robeson on Twitter @NickRobeson.