1. First of all, would you please define Interim management itself to HR Portal's readers?

We define interim management as being:
The provision of a mature, professional manager, well qualified by relevant practical experience, either to fill a gap in permanent staffing or to deliver a specific business result within a limited time period.
Who are interim managers?
Interim managers are senior, well qualified executives who have chosen to develop a career of short term engagements with different organisations.
Interim managers are used to fulfil a variety of roles within organizations. In recent years, they have moved from being used when a business is in trouble - the "company doctor" role which continues to dominate common perceptions of interim managers - to being used as a strategic resource as and when an organisation needs them. Yes, they may be used to restore the ailing financial fortunes of a company to health, but they are also used for specific projects, for start-up situations and to orchestrate change.

2. What are the current global trends, developments in IM?

The primary driver for the growth in the interim management sector would seem to be "change". The trends towards down-sizing, outsourcing and mergers has created a need for additional short-term support in the companies concerned and - the other side of the coin - has led to a growing number of redundant senior executives who are thereby added to the pool of available interim management talent.
To get a measure of the types of change that companies expected to encounter over the next 12 months, the 200 managers / directors in our July 2006 online research were asked to specify the change events they saw on their company's horizon.
When prompted, business restructuring was mentioned by 19% of respondents, with the introduction of a major business improvement initiative cited by 18%.

3. How did the judgement of IM changed in managers' opinion in the past years? Did it change at all?

In the early years, managers regarded interim managers as redundant executives looking to get back into permanent employment. Now there is recognition that interim management is a professional career choice - and that their broad experience and independent viewpoint can bring significant benefits to the companies that use them.

4. How big is interim managers' market worldwide, how many managers are we talking about?

We may reasonably conclude that the market has been growing by an average 20% a year since 1995 and has increased by 189% in the past six years.
Let me give you more specific data on the UK in the following:
Using market share information published in the Executive Grapevine's Interim Management in Europe 2006 and reported financials of the leading interim management firms, together with our own survey information indicating the share of interim work generated by agencies versus that generated by the interim managers themselves, we estimate that the market today is worth in the region of ?550 million a year. In just 2 years the market has grown by ?100 million, an amount it previously took nearly 5 years (from 1995 to 2000) to achieve. Indeed, the growth in our candidate network and in Executives Online's revenues both suggest that the market's size may be even greater than this.

5. What's your opinion about the Hungarian IM market and its opportunities?

Still in its infancy - but with tremendous opportunities for rapid growth as the benefits of interim become better known and accepted.
In the Central European region and also in Hungary interim management is a relatively new service, a new kind of solution to solve critical management problems, and new from the point of view that it is a new way of life for managers. Myself and my colleagues in our partnership network, Senior Management International both sign that there was a positive change at the beginning of 2005. Since then our company, Ashton Penney and our strategic partners in Europe had been assigned by cca. 10-12 clients to look for an interim manager for the Central European region, 4 of these assignments were Hungary related. In base of my information, the local market has also developed by cca. 30%.
During a workshop (organized by Hungarian Interim Management) I had the possibility to meet cca. 50 Hungarian interim managers, by impression was very positive.

6. How do you screen applying interim managers? Do you search for interim managers or do they seek you?

AshtonPenney is very well known - some 40 -50 interim managers apply to come onto our interim database each week, either via our web site automated registration process or by sending us their CV. We review CVs and talk to prospective interims, by phone or face to face, before accepting their registration. What we are looking for is evidence of good professional qualifications and several years' senior management responsibility in reputable organizations. Ideally candidates will have worked in a number of different companies (or divisions, locations etc of a very large organization), because the ability to adapt to different organizational cultures is a most important skill for interim managers. We also give preference to established interim managers who have already completed several assignments: otherwise, we are looking for those who have made a career choice of interim management, rather than those looking to "fill in" while looking for a permanent position.
When we receive a request for an interim manager, we meet the person who will make the appointment to get the best possible brief for the assignment - and then meet and interview interims against that specific brief.

7. Which companies "hire" interim managers?

We place interims in every size of company in all sectors of the economy: the public sector accounts for about one third of all UK assignments. Interims can have a critical role to play in small, start-up companies - as they do in turning round failing businesses or divisions of larger PLCs.
Over the course of 2002, 2003, 2004 and now 2006 we obtained the views of a large number of practising interim managers and the clients who employ them, both by telephone and via online questionnaires.

And here is the result of the survey:
Business sector / Percent of total
Consultancy 6%
Finance 10%
IT/Telecoms 7%
Manufacturing 27%
Marketing 4%
Public sector 7%
Retail 5%
Services 14%
Utility 11%
Other 9%
Total 100%

How long is an usual interim assignment?
They vary from about three months to one year - the average is about seven months.

8. Is it common practice that interim managers become permanent employees after a successful cooperation?

It happens, but it is not usual: interims are almost always over-qualified for the role they fill - and the majority would refuse a "permanent" job if it was offered, as they have chosen and prefer the interim life-style.

9. When should an HR manager consider the use of an experienced interim manager?

Whenever there is an urgent need for additional senior management resource (interims are usually in place and working within ten working days of the initial brief). Such needs fall into two categories: to cover a full "line" role vacancy due to illness, maternity leave or sudden resignation - or to bring experience and expertise to manage a specific project (e.g.: integration of a newly acquired subsidiary; floatation on the Stock Market; factory relocation etc)

10. How can an HR manager make sure interim management runs well?

The first essential is to give the Interim Management Provider Company a careful and thorough brief against which to select the interims for consideration by the client - ideally, involving a face to face meeting with the Director to whom the interim will report. Once the project begins, the interim manager should be involved in the discussion which define the detailed objectives, timescales and deliverables the company expects from the assignment.(In the light of his or her experience, the interim often helps redefine the original brief). It is then down to the client organization to manage the assignment, but the Provider Company will keep in close contact with both parties to ensure that the relationship is working well and is frequently involved in the on-going performance monitoring process.