Interim Management


We help clients to rapidly engage Top Interim Executives.

The capacity to react to a temporary or short-term; unexpected or planned requirement for an Interim Executive to manage a period of transition, crisis or transformation, to execute a key initiative or to overcome an unexpected leadership gap is a common emergence in today’s environment.

We are Ireland’s leading Interim Management Firm.

Principal Connections pioneered the introduction of Interim Management to Ireland in 1991 and today we have grown to be the country’s leading provider of Interim Executive Talent. Although each client requirement is different, we rapidly respond providing carefully selected Transformation and Change Leaders, Business Optimisation Experts, Business Turnaround and Recovery Executives and Subject Matter Specialists.

Recruit an Interim Manager or become an Interim Executive.

Principal Connections unique insight into the complex challenges that prevail in today’s business environment means that we commonly have identified that Interim leader before such a requirement has even emerged.


 

 

 

Business and Professional Services
Interim Management is the temporary provision of management resources. Interim Management can be seen as the short-term assignment of a proven heavyweight Interim Executive to manage a period of transition, crisis or change within an organisation. In this situation, a permanent role may be unnecessary or impractical to fill on short notice. Additionally, there may not be an internal candidate who is suitable for, or available to take up, the position in question.

There are several factors that make the Interim Management offering increasingly popular and cost-effective to organisations.

  1. Return on investment. Interim Managers add value by using their skills and expertise to help deliver an outcome, solution, service or mitigate risk that provides a meaningful ‘return on investment’ to a client. Interim Managers are paid on the understanding of goals and objectives being performed and delivered, and not simply on the basis of attendance.
  2. Speed. Interim Managers can be in place within days as opposed to weeks or months which is essential when time constraints are paramount. Being practiced in engaging promptly with the situation, they become effective quickly upon joining a client organisation. Because of their experience and expertise, Interim Managers also conduct and complete assignments effectively and with due speed.
  3. Expertise. Interim Managers typically operate at a senior level in the client organisation, often being sensibly over-qualified for the roles they take on. They often bring skills and knowledge not otherwise in place, to address a specific skills gap or problem. Their experience and expertise enables them to be productive and make a noticeable impact from the outset, maximising the likelihood of success.
  4. Objectivity. Unencumbered by company politics or culture, Interim Managers provide a fresh perspective and are able to concentrate on what’s best for the business. Being independent operators, they are able to contribute honestly without constituting a threat to the incumbent management team. Not being part of a larger business they are not pressured to unnecessarily extend their assignment.
  5. Accountability. Rather than taking on a purely advisory role, Interim Managers are managers who will take responsibility for and manage a business or project in their own right. They expect to be held accountable for results and by being instrumental in an assignment’s successful delivery, They give clients the peace of mind that the Interim Manager has stewardship of the project in hand.
  6. Effectiveness. Operating at or near board-level gives Interim Managers the authority and credibility to effect significant change or transition within a company. Unlike a ‘temp’, they’re not just there to ‘hold the fort’. They actively add value to the client organisation as a result of their expertise and approach, even when the work and the decisions to be made are difficult.
  7. Commitment. Interim Managers maintain high professional standards because their future work relies upon referrals and a successful track record. They therefore have a stake in the success of the assignments that they undertake. This contrasts favorably with other ‘temporary workers’ who may also be seeking ‘permanent employment’ or simply motivated by a day rate or extending their tenure.

The following stages of the ‘assignment life cycle’ are typical of how Interim Managers enter into an assignment, reach and carry out the actual implementation, and finally exit the assignment.

  1. Entry. The prospective client and Interim make initial contact and explore the requirement sufficiently for the client to be able to decide to engage the Interim Manager (or not) to address the situation. This is likely to involve a ‘preliminary’ assessment of what the client thinks they want and the scope of the Interim Manager’s contribution. It is also likely to involve a due diligence and interview process to make sure the Interim Manager is the right fit for the business. Typically the entry stage takes place over one or more initial meetings and results in the Interim Manager’s provisional engagement.
  2. Diagnosis. The Interim Manager researches the current situation in order to understand it, how it came about, what are the requirements of the varying stakeholders. At this stage a more detailed understanding of ‘what the situation is’ is formed as well as approaches to address it. Differing issues or problems may come to light at this stage than initially highlighted by the client. On a ‘gap’ assignment this diagnosis may run concurrently with the handling of immediate issues. Typically the diagnosis stage will take a few days.
  3. Proposal. The Interim Manager presents a more detailed proposal which acts as the Interim Assignment objectives and plan. If this differs significantly from the preliminary plans determined at ‘entry’, the solution may involve different requirements from the Interim Manager or possibly the ending of the assignment. It is common that this ‘proposal’ may challenge the client’s understanding of the situation, on the basis of the Interim Manager’s expertise. The Interim Manager takes the responsibility to propose a solution most likely to be effective, not automatically the one originally requested. In the case of a ‘gap assignment’ such a proposal may simply outline how the Interim Manager will be a ‘safe pair of hands’.
  4. Implementation. The Interim Manager takes responsibility for managing the intervention, project, or solution, tracking progress and conducting periodic feedback reviews with the client. During this stage, Interim Managers particularly exemplify their expertise, accountability and effectiveness. Depending on the assignment, they get as close to the situation as is necessary, whilst remaining an independent practitioner. They may be managing teams, projects, dealing with crises or transformations or simply ‘holding the fort’. Their implementation is unencumbered by company politics or culture, focused on the task in hand.
  5. Exit. The Interim Manager, approaching project end, ensures that objectives have been met, that the client is satisfied. This stage may involve ‘knowledge handover and training’, determining and sourcing ‘business as usual’ successors, and ‘sharing lessons learnt’ in the process. The Interim Manager is focused on the success of the assignment and not simply the length of his/her own tenure, which means that this stage can be carried our professionally and objectively. Often this will be the end of the Interim Manager/client relationship. Sometimes Interim Managers may continue to give occasional ‘ad hoc’ consultancy. Sometimes the Interim Manager will be re-engaged on a follow-on or further assignment, starting the ‘lifecycle’ again.
There are a number of different business situations that could result in the need for an Interim Manager. Typically these could be situations such as crisis management, sudden departure, illness, death, change management, managing change or transition, sabbaticals, MBOs and IPOs, mergers and acquisitions, and project management. The functions of an Interim Manager are almost endless, thus the scope of an Interim Manager’s skill set is quite unique.