Once your start-up is established and you're getting traction in the market, you may identify a business need that is crying out for additional management expertise. If you don't need or can't yet afford a permanent employee, one option worth considering is bringing in an interim manager.
The advantage of doing this is that you can hire someone with a great depth of experience who has the skills to understand your business needs and they will get up and running quickly. Pick the right person and you can also learn a lot from them that will be of value after they have left.
Doing the groundwork
1. Identify providers
Look for a number of interim providers. Ask for recommendations from other business owners. If you know any good interim managers talk to them to get their inside view of providers.
2. Establish relationships
Get in touch with some high quality interim providers so you get a feel for how they work and what they offer. Once the providers understand your business you'll have confidence they can find the right interim for you.
3. Get an emergency staffing policy in place
It's good practice for every business to have a company policy and procedure for emergency staffing. A contingency staffing plan can minimise disruption and stress if a key person leaves. You might also want to check your insurance. Key-man insurance, for example, could cover the cost of an interim manager, if a key employee is ill or leaves at short notice.
You've decided you need an interim manager. What next?
- Present a concise brief to your chosen interim management provider. Be specific about the skills and characteristics you need your Interim to have. Focus on the detail to ensure your hire is a good fit for your team and company culture.
- Write a clear job description and list the goals that need to be achieved in a workable timeframe. Picture what you would like the company to look like after the Interim's work is done.
- Don't rely on email to keep in touch with your interim provider; meet them in person so you can provide a clear view of your goals and any relevant deadlines. This way, your agency will select high quality candidates who genuinely fit your brief (not just someone whose CV ticks the boxes).
- Be clear about the assignment length.
- Sensible budgeting is a must. It's true that you get what you pay for. If you drive the daily rate down, you won't get the quality people you need.
- Plan how you will integrate the interim manager into the team. Make sure they have someone to report to who can provide constructive support. You also need a system so you can track that your interim manager's goals are being achieved on time and that quality targets are being met.
Hiring an interim manager who is a good fit for your business can help take your start-up to the next level – more quickly than you can do on your own. Assess your needs, budget and plan carefully and see how a heavyweight interim can help you achieve your goals.
Sponsored post. Copyright © 2017 Clive Hyman, founder of Hyman Capital Services.