In this newsletter of FEDA Investment and Innovation Support Service, under the Technical Direction of Capazita Innovation and Technology, we want to talk to you about an increasingly latent figure in professionalization and business improvement projects.
This is Interim Management or Interim Management, a professional service that is increasingly well-known in the business field and which in recent years has become very useful for implementing substantial change projects in various business areas (such as Organizational, Financial, Operations, Strategic, etc) and be a source of wealth and impulse in change and improvement projects.
During the last 15 years, the figure of the Interim has been consolidating and strengthening in countries such as the United States, the United Kingdom or Germany, in all business sizes, being sued mainly by Investment Funds to prepare the company for it or to help in integration. In Spain, for the last 8 years, there has been an increased and increasingly solid demand for these services, from mostly SME companies that want to generate a substantial global or particular change in certain areas or lines of business, linked in many cases with subsequent business Buy-Sell operations (what in the Anglo-Saxon world are known as M&A Operations).
In order to situate ourselves from the beginning about what this figure means and contributes, we must say WHAT Interim Management IS, but, above all, what it IS NOT in relation to other professional services.
Interim Management or Interim Management consists of the full or part-time incorporation of professionals with extensive managerial experience, through a contract for the provision of services to carry out a specific MISSION with previously defined objectives and within a specific time period.
Based on this definition, Interim Management is not:
The hiring of Temporary Work through ETT.
Consulting, since it does not imply the implementation of some analyzed recommendations, but it does complement it.
Outsourcing, since it does not obey the subcontracting of a specific process or activity for its optimization.
Now, when is the figure of an Interim Management used?
For Substitution and/or Mentoring projects.
Professionalization of an Area or Department of the company.
Preparation of the company before a sale or purchase process.
Creation of New Companies or Lines of Business.
Change management.
Constitution/Supplement of Boards of Directors.
According to the latest study carried out by Interim Management through LinkedIn in 2021, 81% of the missions carried out are:
Management of an Organizational or Strategic change.
Restructuring of the Business or its processes.
Start-up of a new department or management area, such as a dept. financial.
Professionalization of the company's Management and/or business transition process.
Development of new businesses or new markets.
Being the most demanded profiles:
Profiles in General Management and Strategy.
Profiles specialists in Financial Management.
Profiles specialists in Operations.
Well, having said that, what are the main advantages that this type of service offers me in relation to the direct hiring of personnel to carry out my change proposal?
Mainly, it is about adapting the necessary profile to the specific moment and the specific mission. Some of the most notable benefits include:
Remarkably Improves Management Capacity
Flexibility with Part-time or Part-Time Incorporation
It supposes a Variable Cost as it is an external provision of services without permanence and does not generate labor liabilities.
They provide numerous contrasting references.
Greater Objectivity in its diagnosis and in decision-making.
Results in Short Spaces of Time
They provide commitment, involvement and rapid integration
Internal Mentoring Work.
If you are in a process of important change for your company, the figure of the Interim can be part of the solution to carry it out with the maximum guarantees. Get in touch with him FEDA Investment and Innovation Support Service to evaluate and inform you about the opportunity to fit this service into your improvement proposal.
