Latest News - Beginners Guide To Interim Management (03/02/2009)
Tuesday Feb 3
Find out how to become an Interim Manager what you could expect to earn
Beginners Guide to Interim Management
As the use of Interim Managers continues to grow, increased opportunities for new Interim Managers to enter the market abound. We are often asked, “How do I become an Interim Manager?” The first step is to understand the nature of interim work. An Interim Manager is a professional who has a client agreed assignment with significant decision-making authority. An interim is not a consultant, a contractor or a temporary worker. There are two tiers of Interim Manager, mid-tier, where rates are £300 to £600 per day, and senior-tier, where rates are £600 to £1500 per day. Mid-tier roles will generally involve project management and/or functional or departmental management responsibility. Senior-tier interim roles will typically involve change management, business strategy implementation, project management and business improvement.
A question we ask whose tentatively seeking interim work is, “Why do you think you will be suited to it?” Whose who will make a successful career out of Interim Management will answer, “Because I am flexible, focused on delivery, culturally in tune, not interested in political manoeuvrings, have a persuasive personality and am only interested in completing the task at hand”. These are the qualities that we expect of Interim Managers, coupled (of course) to a demonstrable track record of achievement within a specific discipline/sector. It is also worth noting that although Interim Management is no longer the preserve of the corporate executive reaching the end of their career, it is unusual to find an Interim Manager aged under thirty, as client companies generally seek to engage Interim Managers with substantial experience, gained from different environments/product sectors, possessing the credibility and perspective this experience brings.
If a candidate believes he possesses the characteristics required of a good Interim Manager, and has made a pragmatic decision where to pitch their service (mid-tier or senior-tier) based on their experience, the next stage is to put together an Interim focused CV. Many successful Interim Managers have a number of CV’s, and submit the most appropriate CV to the client given the assignment brief. The CV of an Interim Manager will not mirror that of a candidate seeking to obtain a permanent role, and candidates seeking to break-into Interim Management are advised to re-write their CV from scratch. Recommendations include:
* Use headings such as ‘Responsibilities’ and ‘Achievements’ and detail information under bullet points rather than lengthy paragraphs – this both maximises space and makes it much easier for potential clients to locate critical information.
* When detailing previous Interim assignments, make it easy for potential clients to find out what you did and what you achieved by firstly providing a brief explanation of the project, followed by expectations and outcomes achieved. Bear in mind client confidentiality.
* With an Interim CV, you can provide more detail than with a CV used to obtain a permanent role, but place the emphasis on the last 5 to 10 years and do not produce a CV of more than 3 pages.
* Potential clients will want to look at your CV and quickly see the quantifiable and measurable benefits that you have provided to previous clients, so detail cost savings achieved concisely in ‘pounds’, or mention what the organisational change you implemented meant to the business in financial terms, or how you improved a business in ‘percentage points’ and what the financial benefits were.
* When highlighting your strengths always document examples to back this up, and be prepared to discuss your examples further at interview.
* As you build your portfolio of past assignments as an Interim Manager, you may need to reduce the amount of space devoted to your previous permanent career in order to keep the document to a reasonable length. It is acceptable to summarise your permanent career in bullet points detailing job titles with two or three bullet point sentences describing responsibilities and achievements.
* With an Interim Managers CV, the client/recruiter will be more interested in your relevant experience than your qualifications, so detail your career history/interim management assignments at the top of your CV, directly below your Personal details and contact information. Relevant professional qualifications should follow your career history, and education and general qualifications should then appear.
* Be realistic about the breadth of your experience and achievements – it is better to under promise and over deliver than damage your reputation by not delivering.
* When writing the CV, remember that the art of Interim Management is to deliver what you promise. You will be doing a disservice to yourself and your client if you exaggerate your experience.
* As with any CV, presentation is important, and spelling and grammatical errors will create a bad impression. Ask someone to proof read your CV.
The next stage to establish yourself as an Interim Manager is to land your first interim assignment. If you are new to Interim Management we would advise you to contact an Interim recruitment specialist. Many of these recruiters advertise their services and current assignments at: www.interimmanagementjobs.net
An Interim recruitment specialist will offer advice and provide details of current opportunities. Once you and your Interim recruiter have identified a suitable Interim assignment, you must then overcome the interview/s. You should never attend an Interim Management interview before firstly obtaining and dissecting the assignment brief. Most Interim Management recruiters will discuss the assignment brief with you at a face-to-face meeting that will allow you to develop an assignment template that will cover all the crucial elements of the assignment in a logical format. It is reasonable to expect an Interim recruiter to provide the following information: a.) Details of the assignment/requirements, b.) Why the Interim Manager is required, c.) Introduction to the client including, background, products, culture, financial data, size, markets, customers etc, d.) Fundamental’s of the assignment (start date/rate/location/length of engagement etc). We recommend that the information recruiters provide acts as supplementary input to the research the Interim Manager will conduct independently, prior to the interview with the client company.
The final stage is to make a success of your first interim assignment, detail this on your CV, network at every opportunity, and engage a recruitment specialist who knows the industry and can recommend you to potential clients.
Source: Interim Management Jobs – www.interimmanagementjobs.net – February 2009
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