The expression, interim management got into the popular sense in Hungary a few years after 2000. Still nowadays there is no “Hungarianized” word to it. If we want to describe the meaning we could say: temporary leader or manager. But what is the purpose of a job or position like interim manager?
By definition interim management is a temporary activity when, for a defined time interval an outer, impermanent, senior leader (interim manager) hands over his knowledge or experience under specific circumstances for specific goals.
What are the main areas or circumstances when mandating an interim manager is a rational solution?
– replacement of an experienced colleague while the company does not find the new employee (usually into CEO and CFO positions)
– replace a senior manager or leader if they can not act in their role for a while (family reasons, pregnancy)
– project management (for example after enterprise coemption, during the integration)
– starting new business branch or entering into the market with a new product line
– high level support for new strategy or improvement
– challenges in the liquidity
… and generally all the time when a company gets in a totally unusual situation.
Regardless of the fact that interim management might be taken in almost every areas of a business’ or a company’s life mostly the FMCG and the production industry does. The less touched areas are retail and services.
And what takes a good interim manager?
– Having wide range of experience in his own area.
– Hard-working, initiative, realizer.
– Open-minded, objective.
– Outstanding communicator, confident.
– A good executer.
Interim management in Hungary is still not a very frequently used phenomenon but neither we can say that it is in infancy. After it’s more than a decade existence we can say that the number of real experienced interim managers’ are around 300 and about 1500 interim management project came true. Some other sources mention 2500 interim managers. (Honestly? I would be surprised, especially in the light of the 1500 projects. If this would be true, someone should starve… The reality is probably in the middle.)
The average length of an interim management project is 4-6 month. The 75% of the highly or over educated interim managers’ are above the age of 40, out of this almost 37% is 50+. (Based on the research of the Hungarian Interim Management Ltd. in 2008). Even if this research is not quite up to date, the basic result is very logical: people need time, not rarely decades to gain as many experience and capital both in financial and mental/intelligence meaning what gives a strong background. In one hand for the professional side, in the other hand to feel calm if a few months of break occurs in the carrier.
Based on the research referred above the average daily fee in interim management is somewhere between 75 000 – 125 000 HUF. This might looked a lot for the first sight, yes. But have you ever considered all the expenses after an employed leader? I mean the gross salary, bonuses, commissions, contributions, cafeteria, company car, communication (mobile, laptop), headhunter’s fee, and in case the severance pay? Also we can not let out of consideration that an employee get his salary also while he is on vacation, or while he is on a business trip or on a training, an interim manager is paid just after the worked days. Without any other extra or hidden costs. (hrportal.hu)
At Business Management Hungary we are able to fill the role of an interim manager. Or with our management, or with our inner strategical partners. All of our professional members of the Professional board has dozens of years of experience in their own field, either we talk about financial or operational projects. And we still have confidential agreements as well. So, shortly and like always, at Business Management Hungary we say:
“We solve problems!”
(after Mr. Wolf, Pulp Fiction)
Business Management Hungary
published on LinkedIn 09/05/2016 by Business Management Hungary