There are more general summaries, but I’ve presented here one general summary with links listed below. If you would like to read more, please visit. http://en.wikipedia.org/wiki/Interim_management
Modern interim management has its roots in the Netherlands in the seventies. Due to the long timeframe requirement for resignation notices, the mass hiring of managers for specific tasks started. Furthermore, interim management spread in the UK, and generally further in the Anglo-Saxon world. In Germany, it spread in the nineties when it proved to be a good solution for the changes brought on by the country’s reunification with East Germany. Today, the number of interim managers of all disciplines in Germany is counted in the tens of thousands. In the Czech Republic, a relatively new area, the number of interim managers can be estimated as of few individuals.
There are several factors that make interim management increasingly popular and more utilized.
- Return on investment – Interim managers bring value with experience and knowledge that enables him to achieve the given goal or results. Interim managers are paid based on their results, and not paid on the basis of “attendance” in a given time period.
- Speed – Interim managers are usually able to assume responsibilities in days or weeks. Based on their experience, they are able to orient themselves quickly and begin immediately working effectively in the new company.
- Qualification – Interim managers are typically experienced senior managers and very often are overqualified for their roles. They usually bring new knowledge that the company was not aware of. All of this increases the probability of the company’s success.
- Objectivity – Interim managers are unencumbered by company policies and practices and bring a fresh perspective. Therefore they are able to focus on what is most important for the company, and act freely without posing a threat to the existing management team. An interim manager’s short-term tenure ensures he will be unaffected by office politics.
- Responsibility – Rather than remain in an advisory role, interim managers take responsibility for implementation per the agreement and are able to takes responsibility for project management as well.
- Efficiency – Interim managers’ experience from executive positions brings the authority and credibility to achieve significant changes in the company’s functions. However, some decisions may be unpopular and very complex for long-term managers to implement.
- Commitment – Interim managers adhere to high professional standards with regard to their reputation and achievements. They have a vested interest in the successful completion of the project.