We've done our best to create a Web site that anticipates and satisfies our client's needs. With that goal in mind, we've compiled a list of frequently asked questions.
What costs should I expect for an Interim Manager?
The Interim Manager charges a day rate and this will vary depending upon the nature of the client's Interim assignment. When you calculate and take into account the actual, fully loaded cost of employment (insurance, profit sharing, 401K’s, healthcare, holidays, bonuses, etc.), the cost between a permanent hire and an Interim Manager is comparable.
What is a typical hire period for an Interim Manager?
The Interim Manager is generally hired for a short term, high intensity assignment with a clearly defined start and finish date. However, there is the option of retaining on a part-time basis, if that meets the client’s particular needs or budget.
How focused is an Interim Manager?
The temporary nature of the role leaves the Interim Manager relatively free from the "politics" that can distract permanent staff, enabling them to be 100% focused. In addition, their experience and familiarity with the task improves their effectiveness and can speed completion of the assignment.
Who are Interim Managers?
Interim Managers are experienced, hands-on executives and senior managers, who have a proven track record and operate at all levels, from the chairman of the board to the department manager, from program director to senior project manager.
Can SMBs afford Interim Managers?
Yes. Small and Medium Businesses often lack skills in certain disciplines but may not be able to justify employing someone on a permanent full time. Interim management opens up opportunities to engage highly experienced people on a finite-term basis and in a cost-effective way.
How quickly will an Interim Manager take to get to know a business?
An Interim Manager is selected because they understand and have experience of the circumstances the client is facing and possess the skills and qualities to be effective from the first day of the assignment. Each Stragility BNS executive will come to the table with broad and deep experience working in multiple sectors with widely varying businesses models.
What effect will an Interim Manager have on permanent staff?
In change roles, it is common that line staff will remain unaware that the Interim Manager is not a permanent addition. Experience shows that managers who are aware of the relationship welcome Interim Managers because of the additional skills and expertise they bring; their appointment is seen as a positive management decision with a defined period of time. Consequently they are rarely seen as a threat.
What happens when the assignment is completed?
The contract will come to an end and there are no termination costs.
If Interim Managers are so good, why are they not in permanent employment?
Interim Managers have chosen interim management as their professional progression. They prefer the variety, flexibility, challenges, and associated risks and rewards it offers.
What if an organization wants to offer a permanent position?
Since these executive thrive in change environments, Interim Managers are rarely interested in a permanent position. If that situation arises, the offer may be negotiated at the end of the assignment.