What does an interim manager actually do?
The term interim management is understood to mean management on a temporary basis, hence the temporary provision of experts in the event of capacity bottlenecks, replacements on leave, reorganisation issues or also within the framework of short- to medium-term projects.
In Austria, the use of interim managers is still clearly underrepresented compared to other countries. In many other European countries the use of such experts is already standard in large and medium-sized enterprises.
Example of the use of an interim manager
A company faces the challenge of introducing SAP HANA as a new system landscape. However, this requires special know-how that is not currently available in the company. A permanent or part-time position is not worthwhile in this case, as it is a time-limited project. The company therefore decides to work with an external interim manager who has in-depth experience with system implementations of SAP HANA. Due to her expertise, the project can be successfully completed within a few weeks. The interim manager not only successfully implemented the new system, but also trained all employees so that they can now continue to work independently.
Interim management: 5 advantages for your company
There are numerous reasons why companies benefit from interim management in times of a shortage of skilled workers. Here we list the 5 most important advantages that speak for the use of so-called interim managers:
1. Flexible bridging of peak loads and capacity bottlenecks
While the COVID 19 pandemic brought industries such as hospitality or the event sector to a complete standstill, tax consulting firms were confronted with an almost unmanageable flood of enquiries. Due to the application for short-time work and the like, bottlenecks quickly arose in payroll accounting and bookkeeping. By using interim staff, the firms were able to cope with the temporary flood of enquiries without having to hire additional staff.
Tip for further reading: In this article we reveal the most important HR trends in finance.
2. Rapid availability
When there are peaks in demand or unforeseen staff shortages due to illness, every day counts: there is no time for lengthy tenders or interviews in such situations. Interim managers are usually available quickly and at short notice - if you know where to find them.
Are you facing a staff shortage right now and urgently need support? We can also fill specialised positions successfully and quickly via our Schulmeister database. Ongoing maintenance and constant expansion form the foundation for this. We are happy to put you in touch with interim managers from the fields of finance and accounting as well as technology and IT.
3. Hardly any training time
Interim managers are professionals with many years of professional experience. As independent consultants, they bring valuable knowledge and know-how into the company and anchor new processes. For this reason, they need hardly any training time and new projects can be started immediately and completed quickly.
Our managing partner Robert Szvetecz is convinced of the return on investment:
"In fact, there is hardly a more advantageous way for companies to buy in external knowledge than by using interim management. All of the interim managers in our network have considerable careers behind them and have many years of experience, so that their deployment in the company is usually only required for a few weeks or months."
4. Transparent calculation
Interim managers are independent experts who charge for their services on an hourly or daily rate basis. For companies, this is an attractive opportunity to access external knowledge with full budget control. In many cases, a few weeks are sufficient to implement system introductions or new processes in the company. Due to their experience, interim managers are usually able to estimate in advance how long they can implement a project.
5. No risk
In contrast to permanent staff, the cooperation with interim managers is flexible and without obligations. If the performance does not meet the company's expectations, the contract can be terminated at any time. Furthermore, there are no upfront costs or headcount implications.
Typical areas of deployment for interim personnel in the finance and IT sector
- Support in day-to-day accounting/payroll accounting
- Preparation of monthly/quarterly/annual financial statements
- Introduction of new IT software in accounting
- Introduction of new reporting tools
- Consulting projects (e.g. M&A, restructuring, accounting, in-/outsourcing)
- Introduction of new software
- Implementation of IT projects
- Technical management tasks
- Planning projects
- Implementation of execution projects
- Consulting projects
Interim Manager:in wanted? Schulmeister Consulting found.
As Austria's leading personnel consultancy in the financial sector, we have been assisting companies with interim management for many years - with a focus on our core areas of finance and accounting, technology and IT. Together with our clients, we evaluate the possibilities of cooperation in advance, develop the requirements profile, support the selection of suitable specialists and are always available to answer questions during the course of the project.
