Three signs it's time to consider interim management as a career
Many executives reach a stage in their career where interim management proves the best ‘next step’ professionally. Some choose to do so because they have reached the pinnacle of their careers within salaried roles, whereas others may simply prefer the flexibility and variety that interim management offers. Some use it as valuable experience for NED positions further down the line, or alongside.
Three signs it’s time for a job change:
- You have reached the ceiling of your current role and/or organisation.
As a senior manager or director there is usually very little room for advancement and little or no guarantee that the CEO position will become available. Furthermore, the role may be filled externally or via a competing internal candidate.
- You are no longer learning in your role and feel unfulfilled
While it can be comfortable to ‘sit pretty’ in a management role, if you are no longer progressing professionally or personally, then it’s highly likely a move will be beneficial.
Not being stretched professionally means you risk becoming bored, unmotivated, and may lack the inspiration and energy to create new ideas and achieve a positive impact.
- You don’t enjoy your job
If you are feeling really uninspired, or even disinterested in your current role and organisation, perhaps even dreading going in day in and day out, it really is a sign to move on. This situation benefits no one.
4 benefits of interim management
Many executives choose interim management because of the unique benefits from this way of working, which are numerous. Here are just four examples:
You will no longer be fixed to one organisation but a number of them. This means you get to experience a wide variety of operations, sometimes even sectors, with plenty of new experiences and challenges to fulfil you.
- All the pluses of salaried work, none of the downsides
You get to enjoy office life but swoop in, often contribute to interesting projects or help fix specific problems, and then move on again to your next assignment. You don’t need to get involved in office politics or worry about stepping on anyone’s toes.
It also offers a great deal of autonomy; you get to choose how and when you work.
- New skill sets
Working in multiple environments means you acquire new skills and knowledge all the time, all of which can be transferred on to subsequent assignments. This could mean expanding your knowledge of software to a new industry, or expanding responsibilities. Furthermore, you gain the highly-prized skills of being adaptable to change and performing well under pressure.
Working as an interim manager means you are more likely to meet peers, or those in more senior positions, who may be able to benefit your career. This opportunity is likely to be significantly more limited when working within one organisation.
Making connections can be vital for your career prospects. One of the best ways to manage your networking between projects is to set up your LinkedIn profile properly to catch the attention of relevant people.
How to become an interim manager in three easy steps
If you are contemplating the switch to interim management, first, well done, that’s the first step! Second, it’s time to consider a) your long-term goals and ambitions, and b) the logistics to becoming an interim manager (we can help you with both).
- Long-term plans
Before making any bold decisions you should take the time to consider your long-term plans, and how you can make interim management work for them.
Where do you see yourself ultimately, and what do you want to gain from interim management? These considerations may help you decide if interim management is right for you, and if so, the sorts of roles and/or organisations to focus on. For example, do you want to gain experience and connections for a board role, or are you looking to diversify your knowledge and contacts to move into consultancy?
- Set up as an independent company
Once you have made the broader decisions regarding interim working life it is time to knuckle down and work out the logistics. There are a number of regulations to consider, but the first step is to set up as an independent company. This will ensure you are in the right tax brackets, type of employment and so on.
- Reach out to an interim provider
Once you have decided to switch to interim management the next step is gaining the introductions. Specialist interim providers have a network of clients who rely on them for trusted interim managers. These relationships mean you will discover opportunities you might not otherwise hear of, and will also mean you are matched with organisations that best suit your career ambitions, personality and experience.
Oakwood Resources’ expertise in the interim management market can help you find the best assignments to fit your skill set, help you get started 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.