Defining the Line Between Consultancy and Interim Management in London UK

With the exponentially growing popularity of interim management in London and the UK, many businesses are starting to realize the incredible range of tasks a temporary manager can provide. From turnaround to growth to a crisis situation, it is an increasing number of different shoes an interim can fill. And this service is beneficial to various types of companies. For example, businesses with tighter finances will find a cost-effective solution by bringing on a senior executive for only several months, rather than the expensive alternative of making them permanent. But even with the growing usage in the UK, many people still find an interim manager's role somewhat unclear, quite often placing them into the same category as consultants. It’s important to know interim management is quite distinct from consultancy and an article from Personneltoday.com explains why:

While both interim managers and consultants are brought in for their expertise, ideas, and extensive analysis skills, it is the interim managers who not only advise and plan, but also implement those ideas. The service becomes more hands-on. A consultant would come in, discuss options, work with the company to come up with a plan, and then hand the project back to that company. The interim manager develops the particular project as well, but sees it through from start to finish. As well, interim managers usually play a more involved role by becoming part of the senior management team for the designated length of stay, while consultants are managed by their own firm. Both professionals provide an outsider’s perspective, which is a huge advantage, but the two differ on their level of involvement in the project’s execution.

And different situations might call for either an interim manager or a consultant. Neither is ultimately better than the other as it depends entirely on the circumstances. It is extremely important however that interim management is becoming noticed and used so frequently to fill those niches and circumstances where it is the best solution.

Interim Management in London Grows As Businesses Find More Reasons to Hire Management Professionals

Recent results show that interim management in London and the UK is increasing in demand each year. Compared with 2006, activity levels increased 1.3% in 2007, and assignments and daily rates are on the up as well. It’s clear there’s a definite need for this kind of service- a temporary highly trained and skilled executive to fill a management role in a specific business area.

While the reason for a “rent-a-boss” was initially only for business turnaround and transition, companies are finding more and more ways to maximize the benefits of a temporary executive addition. An article by PersonnelToday.com provides some other common reasons UK companies are bringing in a senior executive: project management, business improvement, gap management, and crisis management.

When you think about it, there are so many opportunities where involving an external expert makes a lot of sense. You get an experienced professional with new ideas to contribute, a fresh perspective that isn’t clouded from inside the company, and someone trustworthy who helps to carry the weight. This allows other senior members and executives to focus on other projects that might need their attention.

Transition and turnaround is not the only reason to use one of these professionals – not by far. It’s just like hiring any other service. You might be capable to complete a home renovation project on your own, but can’t spare the time, so you hire out a contractor who can provide their skills and allow you the freedom to keep your other commitments. Maybe you already own a car but are traveling with a larger group of people, so you rent a car with more seats to accommodate your needs. Interim management services are extremely beneficial, and not only when used to fill a new or empty position until a permanent candidate can be found. They adapt and accommodate to the current needs of a business, bringing new approaches and proven expertise.

Interim management in London is certainly a growing service, as more and more businesses see the success that comes from working with these individuals to maximize efficiency, development, and growth.

Poll Shows Significant Rise In Interim Management Use

Just-in-time delivery seems to have moved from logistics and the factory floor to the executive suite and the boardroom, as U.K. companies are increasingly using interim management personnel and teams to handle their business-critical projects and management staffing needs. According to an Ipsos MORI annual survey conducted for Britain's Interim Management Association use of interim managers hired from outside sources increased 24% in 2007, which followed a 55% increase in their use in 2006.

The Ipsos results indicate that 39 per cent of interim management assignments were for programme or project management, while change management and business improvement each accounted for one in five postings. Use of temporary management resources by government (particularly local government) agencies increased significantly, accounting for 554 of the 1,613 reported assignments. In the private sector, the largest user of interim management services was the banking and financial sector (accounting for 39% of assignments), followed by manufacturing (accounting for 11% of assignments) and the telecommmunications industry (which accounted for 9% of assignments).

Given the pace of change in all three sectors, it seems likely that use of interim managers and management teams - particularly for business-critical special projects and corporate initiatives required to keep pace with corporate change in a restructuring economy - will grow by leaps and bounds again in 2008.

Hiring Interim Managers to Staff Projects a Key Efficiency in Today's Business Climate

Adaptability and flexibility are key to whether an organisation flourishes or perishes in today's business climate, which is evermore dynamic and fluid as technology advances fuel the pace of change. When an organisation is experiencing a pinch in its management resources - whether as a result of management workload, management turnover, corporate growth or emerging new or special corporate projects and initiatives - staffing agencies that specialize in providing interim managers and management teams to quickly fill a "management gap" can prove to be a key tool for managing rapid corporate change and growth opportunities.

Turning to interim management personnel or teams from an external source, rather than immediately undertaking the time and resource costly of internal hiring and training can help an organisation (whether business, governmental or a non-profit charity) efficiently respond to four challenges that all organisations sooner of later face:

Management Turnover - Interim managers contracted from outside an organisation can temporarily replace departed senior managers, so that an organization maintains continuity of leadership, even while it searches for permanent replacements.

Corporate Growh - Interim management personnel can provide the management expertise required to continue meeting current client needs of s, whie an organisation's existing management team can increasingly focus attention on organisational growth.

Management Workload - Reducing management workload and in peak seasons and giving existing management teams temporary help and additional resources in times when an organization's business cycle is putting a strain on top management is a key in avoiding management burnout and ensuring optimal organisational efficiency.

Special Projects - Securing interim management resources from an outside source for special projects and initiatives can enable organisational can provide leadership on special projects and mentoring of new executives in times of rapid growth and change.