May 2003
Contrary to popular belief, four in five interim management assignments are based on the management of special projects rather than ‘gap filling’, ‘holding the fort’, or providing cover for absent executives. In other words, interim management is not what you might think.
Z/Yen has completed a major study of the interim management market analysing details of over 330 assignments. The data was collected by questionnaire with approximately half the responses coming from clients and half from interim managers.
A remarkable 80.2% of responses reported that the assignments they had been involved in were to carry out specifically defined projects. These projects include post-merger integration, downsizing, launching new products, implementing new systems and building a new sales team. Only 19.8% of assignments provided cover for shortages of skills or manpower.
| % of Sample | Assignment | Nature of Recruitment | Key Skills Required |
|---|---|---|---|
| 80.2% | Specifically defined project |
Resourcing of relevant expertise: expert resourcing of project managers and independent consultants. |
Project management skills. Analytical & consultancy skills. Sector experience. |
| 19.8% | Holding the fort / filling a gap. | Via "classical" Interim Management Providers. | Relevant management experience. |
Twice as many project based assignments are perceived as Very Successful as ‘gap filling’ assignments. When asked to rate the success of an assignment (from Very Successful to Very Unsuccessful) over one in three (35.2%) rated project based assignments as Very Successful whilst only one in six (18.2%) gave the same rating to ‘gap filling’ assignments.
The fact that the majority of assignments are involved with specific projects has implications for the recruitment process. The traditional view of interim managers being experienced line managers who are ‘over experienced’ in one field ignores other vital skills for handling special projects. Analytical, consultancy, mentoring and project management skills are more relevant. This skill set is more likely to be found amongst independent consultants and project managers than experienced line managers.
The research also covers the most important factors for success in interim management assignments. Mark Yeandle, head of Z/Yen’s expert resourcing division SpecialiZm, says “Our research shows that clear definition of objectives, quality control and performance related remuneration all have a material impact on the success of assignments. Getting the key factors right at the start dramatically increases the likelihood of success”.
For further information, please contact Mark Yeandle,
Tel: (020) 7562-9562,
E-mail: mark_yeandle@zyen.com.
Download a copy of “Research Into Optimising the Use of Experts".
Z/Yen specialises in risk/reward management, an innovative approach to improving organisational performance. SpecialiZm is the expert resourcing division of Z/Yen and provides experts for management roles – typically for assignments of between 6 and 18 months.