Using Interim Managers Effectively

467 views
392 views

Published on

Top tips on Using Interim Managers Effectively

Published in: Business, Career
0 Comments
2 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
467
On SlideShare
0
From Embeds
0
Number of Embeds
5
Actions
Shares
0
Downloads
0
Comments
0
Likes
2
Embeds 0
No embeds

No notes for slide

Using Interim Managers Effectively

  1. 1. “ Using Interim Managers Effectively” Webinar with Sharon Green, Henry McNeill & Alyson Pellowe
  2. 2. <ul><li>Welcome </li></ul><ul><li>Participant involvement </li></ul><ul><li>Questions: raise your ‘technological’ hand </li></ul><ul><li>Type in chat box </li></ul>
  3. 3. Using Interim Managers Effectively <ul><li>Flexing your workforce – an on-going workplace issue? </li></ul><ul><ul><ul><li>Permanent Employees </li></ul></ul></ul><ul><ul><ul><li>Fixed Term Contractors </li></ul></ul></ul><ul><ul><ul><li>Temps/Agency Workers </li></ul></ul></ul><ul><ul><ul><li>Interims </li></ul></ul></ul><ul><ul><ul><li>Management Consultants </li></ul></ul></ul>Our focus is on the effective use of Interim Managers. How to get the best from them, when to use them and how to get the most bang for your buck! What impact will the Agency Workers Directive have?
  4. 4. <ul><li>How many of you have used interims in HR or any business function in your business? </li></ul><ul><li>OR </li></ul><ul><li>How many of you have been an interim? </li></ul>
  5. 5. Using Interim Managers Effectively <ul><li>“ Professional Interim Executives are a high impact external resource, usually operating at or near board level on a short-term basis, who utilise extensive proven experience to solve complex problems or deliver solutions to business critical issues fast. </li></ul><ul><li>Professional Interims diagnose, design, deliver and embed the learning and then disengage”. </li></ul><ul><li>(Association for Professional Interims) </li></ul><ul><li>“ An alternative to management consultancy” (IMA) </li></ul>
  6. 6. Using Interim Managers Effectively An interim is likely to ………. <ul><li>Be someone with a career track record at a senior level in your sector and other sectors </li></ul><ul><li>Be more senior than you need, were you recruiting permanently </li></ul><ul><li>Have a breadth and depth of experience and skills </li></ul><ul><li>Be available quickly – they trade on parachuting in at short notice; </li></ul><ul><li>think days not weeks! </li></ul><ul><li>Charge a day rate rather than an FTC </li></ul><ul><li>Work through their own or an umbrella limited company </li></ul><ul><li>Have their own professional indemnity insurance </li></ul>
  7. 7. Using Interim Managers Effectively <ul><li>Maternity leave or sabbatical cover </li></ul><ul><li>Sudden departures –senior executive gaps </li></ul><ul><li>Special projects </li></ul><ul><li>Short-term management and leadership challenges </li></ul><ul><li>Implementing a new strategy </li></ul><ul><li>Restructuring </li></ul><ul><li>Merger/integration projects </li></ul><ul><li>Change management </li></ul><ul><li>Business improvement or turn-around </li></ul><ul><li>Project and programme management </li></ul>When to use an interim instead of a permanent resource?
  8. 8. <ul><li>What daily rate would you expect to pay for a Maternity leave cover for a HR Business Partner ? </li></ul><ul><li>Perm salary of 48K </li></ul>
  9. 9. Using Interim Managers Effectively – costs <ul><li>Day rate = £400 - £1,000 </li></ul><ul><ul><li>Base salary + 30% </li></ul></ul><ul><ul><li>Divided by 220 </li></ul></ul><ul><li>Expensive but………. </li></ul>No annual leave, no employment rights, no NI, no bonus, pension or benefit costs to employer, short contract, limited notice period, highly skilled and immediately available. Agency Fee Structure
  10. 10. Using Interim Managers Effectively <ul><li>No of female interim executives up from ¼ to ⅓. </li></ul><ul><li>Private sector vs public sector usage </li></ul><ul><li>Banking and Finance continues to dominate </li></ul><ul><li>2010 a bad year for interim assignments </li></ul><ul><li>Special projects (26%), Finance (17%) and HR (13%) of market share. </li></ul>37% 52% 48 % - Ref IMA Ipsos MORI Market Audit 2010 5th Annual IMA Market Audit
  11. 11. <ul><li>Average Length of Assignment 148 billable days </li></ul><ul><li>1/3 assignments were less than 60 days </li></ul>Using Interim Managers Effectively
  12. 12. Using Interim Managers Effectively – what to expect? Scope out the project & adapt fast Self managing Deliver on time, on budget & add value Focus on the delivery
  13. 13. Using Interim Managers Effectively <ul><li>Benefits </li></ul><ul><li>Temporary and skilled resource </li></ul><ul><li>Buy in skills when you need them without adding to headcount </li></ul><ul><li>Help scope out future plans </li></ul><ul><li>Make an impact quickly – navigate office politics </li></ul><ul><li>Risks </li></ul><ul><li>Like any hire there are risks – bad fit </li></ul><ul><li>Test them out quickly before exposing them to the whole business </li></ul><ul><li>Get mechanisms in place to spot issues early and part company </li></ul><ul><li>Scope out deliverables to show ROI </li></ul>
  14. 14. <ul><li>What have we missed, </li></ul><ul><li>any ideas from the audience? </li></ul>
  15. 15. Using Interim Managers Effectively Getting bang for your buck … Internal communication is key What can they leave behind? Make the most of their skills set Focus on the deliverables plus added value Assess the Return on Investment
  16. 16. <ul><li>How do you measure the ROI on interims? </li></ul><ul><li>What are the intangible benefits? </li></ul>
  17. 17. Using Interim Managers Effectively <ul><li>Measuring ROI </li></ul><ul><li>For every £1 you spend on an interim you should expect between £5 and £21 back </li></ul><ul><ul><li>Delay caused by lack of permanent hire </li></ul></ul><ul><ul><li>Speed of delivery </li></ul></ul><ul><ul><li>Value of impartial advice </li></ul></ul><ul><ul><li>Value of having someone overqualified in place </li></ul></ul><ul><ul><li>And cost of interim over period of time </li></ul></ul><ul><li>Executives on Line.co.uk </li></ul><ul><li>www.executivesonline.co.uk/interim_management/interim_management_serv/roi </li></ul>
  18. 18. <ul><li>Don’t recruit for interims in the same way as permanent staff </li></ul><ul><li>Have a process that’s quick but reassures you they can deliver what they say they can </li></ul><ul><li>There are specialist agencies </li></ul><ul><li>Use your network – it saves time and costs </li></ul><ul><li>Ask for testimonials and references </li></ul><ul><li>If things don’t work out you can fire them quickly </li></ul><ul><li>They can also leave you if they don’t want to extend </li></ul>7 Secrets of Using Interims
  19. 19. And finally! Today we covered............. <ul><ul><li>Interim Management – definitions and uses </li></ul></ul><ul><ul><li>What to expect, how to get the best from them </li></ul></ul><ul><ul><li>Measuring the outcomes </li></ul></ul><ul><ul><li>How interims could and should benefit your permanent team </li></ul></ul>
  20. 20. Future PVHR Webinars <ul><li>We now run webinars on a range of different subjects </li></ul><ul><li>Write to me if you would like more details [email_address] </li></ul><ul><li>Thank you for participating and …. </li></ul>
  21. 21. “We look forward to your feedback!”

×