A new guide to help employers choose the best interim managers has been
launched by the CBI.
Focusing on top-level executives, Interim executive management, a business
guide, sets out ways to choose a trust-worthy provider and make best use of an
Digby Jones, CBI director general, said there has been a decline in the
conventional executive talent pool, and interim management is becoming an
increasingly valued resource. He said that interim executives temporarily fill
positions such as chief executive, finance director, or HR director and can
help integrate an acquisition or turn around a failing company.
"The job of an interim is to leave a business in better shape than they
found it, and it’s not just about the short term," Jones added.
A recent Mori poll revealed that while most business managers have heard of
interim executives, only 42 per cent of FSTE 250 companies have used them.
Mori recently used an interim to improve IT at the company. Mike Everett,
Mori UK managing director, said the system worked well. "It was extremely
valuable. We were able to bring in an interim with the expertise we needed
instantly," he said.
According to Martin Wood, CEO at BIE Interim Executive, the daily rate for
an interim is anything from £600 to £2,000. The minimum stay is three months,
and the average six to nine months.