A Complete Guide to Finding the Best Interim Manager
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Published:
March 4, 2023
Reading Time:
7 minutes
You may be used to hiring full-time and part-time employees. You may also be used to hiring temporary contractors. However, when it comes to hiring an interim manager, things are not as straightforward. And there’s a reason behind that.
You see, interim managers are highly experienced leaders that a company hires when a vital leadership position becomes vacant in a company. Two aspects are very important when hiring an interim manager: urgency and seniority. Meaning that you will have to urgently hire a very talented and highly experienced executive.
Easier said than done, right? Don’t worry. In this article, we will discuss who interim managers are, why you should hire them, and what some of the best methods of finding them are.
So, let’s dive into it.
You see, interim managers are highly experienced leaders that a company hires when a vital leadership position becomes vacant in a company. Two aspects are very important when hiring an interim manager: urgency and seniority. Meaning that you will have to urgently hire a very talented and highly experienced executive.
Easier said than done, right? Don’t worry. In this article, we will discuss who interim managers are, why you should hire them, and what some of the best methods of finding them are.
So, let’s dive into it.
What Is an Interim Manager?
When a company needs to fill up a temporary position during the time of an internal transition, that’s when it brings an interim manager on board. Now, the term ‘internal transition’ refers to a significant period of change in the company that needs expert leadership. Typically, interim managers are hired when a top-level executive in a company either quits or is let go. Are you still confused? Let’s take an example to understand the role of interim managers.
Let’s suppose that James is the CEO of Company A for the past 5 years. James had some personal issues and decided to quit his job all of a sudden. Now, the board of directors does not know of any particular person who is as skilled as James. They know they can find one, but they may need around 6 months to hire someone who is experienced, qualified, and determined to lead Company A.
But here’s the thing: Company A cannot afford to be without a leader for 6 months because it could result in reduced employee morale, job insecurity, mismanagement, financial loss, and a loss of reputation. They need a strong executive as soon as possible, although on a temporary basis. This is when interim managers come into play. Interim managers are high-ranking and senior executives who can be hired quickly to hold the helm until a permanent executive is found and hired. Now, there are six different types of interim managers you should be aware of: Interim CEO, Interim Project Manager, Interim COO, Interim CTO, Interim Finance Manager, and Interim HR Manager. If you want to learn more about each type of aforementioned interim manager, feel free to click on the added links and have a read.
Let’s suppose that James is the CEO of Company A for the past 5 years. James had some personal issues and decided to quit his job all of a sudden. Now, the board of directors does not know of any particular person who is as skilled as James. They know they can find one, but they may need around 6 months to hire someone who is experienced, qualified, and determined to lead Company A.
But here’s the thing: Company A cannot afford to be without a leader for 6 months because it could result in reduced employee morale, job insecurity, mismanagement, financial loss, and a loss of reputation. They need a strong executive as soon as possible, although on a temporary basis. This is when interim managers come into play. Interim managers are high-ranking and senior executives who can be hired quickly to hold the helm until a permanent executive is found and hired. Now, there are six different types of interim managers you should be aware of: Interim CEO, Interim Project Manager, Interim COO, Interim CTO, Interim Finance Manager, and Interim HR Manager. If you want to learn more about each type of aforementioned interim manager, feel free to click on the added links and have a read.
KEY TAKEAWAYS
- An interim manager is a senior executive who is brought on board temporarily when a company is going through a major transition. Interim managers are hired for a short period of time until the company finds a permanent full-time executive.
- A company should ideally hire an interim manager immediately when the CEO or any other top executive leaves. This is because the company must be not without a leader while the search for a new permanent CEO is on.
- You could promote someone who already works in the company to a top leadership position. However, if they don’t have prior leadership experience, then hiring an interim manager would be the right choice.
- There are many ways to find a top interim manager, such as social media ads, LinkedIn InMail, referrals, and online consulting platforms.
- Seeking an online consulting platform’s help is the best way to find a top interim manager. This is because the role of an interim manager is one that needs to be filled immediately, and online consulting platforms could connect you with an experienced interim manager within hours.
Why You Should Hire Interim Managers
Now that you have a basic understanding of an interim manager’s role, let’s discuss why a company that is in a leadership crisis should hire them.
1. A stitch in time saves nine
“A stitch in time saves nine.” You may have heard this proverb in childhood, and it really applies to the scenario in which your company needs a top executive immediately. Agility is the number one reason why you should hire a top interim manager. Unlike permanent executive roles which may take months to fill, interim managers can be employed rather quickly. And how to do that? Well, we’ll discuss it later in this article.
2. Interim managers can truly lead
When a top leader leaves your company or is let go, you have two options: either wait to find a permanent hire or find a temporary replacement urgently. Now, you may try to replace them with someone who may not have the same seniority level or leadership skills. This could be a huge mistake. Unlike a random hire who may be unqualified to be in an executive position, interim managers are usually used to challenging professional situations. Through their strategic thinking, calmness under pressure, and adaptability, they can lead a company that’s in dire need of strong leadership.3. No politics, only results
Here’s another reason why you shouldn’t simply promote someone from within the company to fill an executive vacuum: office politics. Interim managers are temporary outsiders who can come in to shake things up and set your company in the right direction. They don’t care about politics. Their job is to provide you with agreed-upon results and move on.4. New perspectives
A very common challenge that many companies face is the inability to know what they don’t know. An interim manager could introduce you to new ways of generating profits, reducing costs, optimizing operations, introducing new lines of products, etc. Even though they’ll work with you on a temporary basis, they can give you a new blueprint on how to efficiently run your business.5 Ways to Find a Top Interim Manager
Alright, now, we’ll talk about the most important topic of this article: How to find top interim managers? Well, there are several ways to do it. In the end, it’s up to you which path you want to take. That said, let’s discuss the top 5 ways to find the best interim manager.
In conclusion, there are many ways to find an interim manager. However, since urgency is key for this particular role, you should ideally go with the fastest route to find top interim talent, and that is online consulting platforms. You could look for a permanent executive through recruiting agencies or job search websites later. But when your company desperately needs an interim executive, simply go for an online consulting platform and get things done fast.
1. Social media posts
This may be the most straightforward way to find a top interim consultant. Simply go to your social media profile and create a post about your requirements. However, there’s no guarantee that you’ll find the right person in the right time period. Remember, this is an urgent role, so you cannot wait for people to read your social media post and consider your offer. However, if you’re lucky, this may just work fine.2. Online job search websites
This is probably the most common way to find a part-time, full-time, contractor, or any other type of employee. Chances are, you have already posted several ads on these websites and found top employees. So, posting ads on online job search websites is surely the go-to solution for many employers. But again, you need an interim manager instantly, probably within a few days. So, posting an ad on a job search website and waiting for a month may not be your best bet. Is there a faster way, then? Well, yes, there is. Let’s discuss it in the next point.3. Online consulting platforms
An online consulting platform can connect you with top interim managers and freelance consultants in as little as 48 hours. This is why intelligent business owners who immediately need top interim managers contact online consulting platforms like Consultport. Here at Consultport, we have over 10,000 top freelance consultants and interim managers in our talent pool. We only select the best of the best and do background checks beforehand—so our clients don’t end up disappointed later. If you want a talented interim manager fast, get in touch with us now.4. LinkedIn InMail messages
Once again, this may not necessarily be the fastest option, but you could try it. Basically, you could search for top candidates on LinkedIn and send them an InMail. Please note that InMail messages will cost you money, and you will need to buy a premium membership first. Also, this will require a lot of time and attention from your side. So, only use this option after carefully considering other faster and more efficient options.5. Ask your professional network
Oh, the good ole professional networks. We all have them, and they can come in handy when we’re looking for a new employee to hire. So, if you’re looking for a new interim manager, you may even ask around in your professional network as a last resort. Again, like social media ads and LinkedIn messages, it may be challenging to find a top interim manager like this, but you could give it a try.In conclusion, there are many ways to find an interim manager. However, since urgency is key for this particular role, you should ideally go with the fastest route to find top interim talent, and that is online consulting platforms. You could look for a permanent executive through recruiting agencies or job search websites later. But when your company desperately needs an interim executive, simply go for an online consulting platform and get things done fast.
