A career in interim management – everything you need to know
There are certainly many benefits to having a permanent role - paid holiday, pension contributions, training opportunities and a steady predictable schedule make an attractive package and a comfortable position to be in. But when it comes to employment, it’s not one size fits all. Steady and predictable may not suit everybody so what are the other options available for a finance professional?
For flexible and dynamic individuals, an interim career may appeal and tick the boxes. The ability to move to different organisations to complete a fixed term contract rather than stay in one role has a host of benefits.
Benefits of interim management:
- Better work-life balance
- Competitive rates
- Demand for interims is high
- A variety of working environments
- Varied portfolio of work
- Increased professional networks
With enough preparation, groundwork and planning, leaving a permanent role for interim positions can be hugely rewarding for the right person, but it’s important to consider the disadvantages before deciding if it’s right for you.
Disadvantages of interim management:
- Doesn’t suit those who prefer a stable, continuous environment
- Can be less job security in between assignments
- The pressure of delivering results doesn’t suit everyone
So, if you’ve decided to take the plunge and begin an Interim career what are the first steps you need to take?
Talk to a specialist consulting firm
Their knowledgeable consultants will talk you through the nature of interim assignments and the market conditions for your area of expertise and skill set. They will advise on the requirements and challenges of interim roles and how to approach the market and what remuneration you can expect for your experience and skills. They will have trusted networks of end-user businesses who utilise interim professionals, as well as access to current opportunities.
Decipher your skill set
Your selling points as an interim manager are your skills, technical knowledge and achievements, rather than necessarily your historic track record of permanent roles which are of less interest to those engaging interims. Highlight key achievements on your portfolio or prospectus, remembering to include keywords for specific skills and software knowledge.
Remember that flexibility and adaptability are key
A fixed term contract doesn’t necessarily mean you will finish your assignment on the date specified – contracts are often extended if the project takes longer than expected. We’ve encountered interims take a three-month assignment and still be there a year later. We’ve also encountered longer assignments finish early due to the changes within the company.
Prepare to hit the ground running
The significant expertise and industry knowledge that interim managers have means that they are usually brought in at a very high level, because of this they are extremely accountable for delivering exceptional results. An interim’s stakeholders usually have high expectations for them to achieve target-driven solutions.
Oakwood Resources’ expertise in the interim management market can help you find that first assignment to fit your skill set and ensure success for both yourself, and your stakeholders.
We work closely with interim managers, businesses and consultancy firms to support their growth goals, matching the best professionals to appropriate opportunities. If you wish to discuss interim management opportunities contact our specialist interim recruitment team who will be happy to talk with you.