Interim management is a management tool which brings an interim manager into an organisation or company who:
- has the skills and experience needed by the client
- is highly qualified
- will achieve the objectives set within the given timeframe
- will implement any agreed changes
Interim management involves such management techniques as transition, change, mobile and temporary management.
THE INTERIM MANAGEMENT LIFE CYCLE
We meet with the client and let them tell us what they problem is that needs solving. We make it clear to ourselves what the context is and assess the situation. We set out our approach, experience and results to date. It normally takes one or two meetings for both sides to gain a proper understanding of what needs to be done, the objective in doing it and how we can go about it. At the same time, if we have had success with a similar case in the past, we can be commissioned to step in straight away.
We present potential approaches to solving the problem and explain why we favour them. We look for a suitable interim manager and work with the client to determine what their duties will be.
We present a detailed offer to the client that includes a profile of the interim manager, the agreed objectives, a schedule and the principles behind our pricing. This offer forms the basis of us entering into a cooperation agreement.
How you pay is flexible. Clients tend to use a combination of methods:
- a monthly fee, the basis of which is the parties’ shared understanding of the volume and complexity of the work
- an hourly rate, which is determined rather like the monthly fee but allows us to keep account of things according to specific periods of time and which may vary from one aspect of the work to another
- a performance bonus for achieving agreed, measurable objectives which, generally speaking, constitutes a share of the growth in net profit or of the amount by which losses have been reduced
- a holding in the company. If none of these options is possible or they fail to motivate both parties, an alternative agreement can be reached.
If it’s important to the client that we start as soon as possible and hit the ground running, as a rule we can complete all of the above mentioned stages and enter into a contract within 10 days.
The interim manager starts work in accordance with their contract. They manage the implementation of changes and give clients regular feedback. They focus on completing the agreed task within the time given. During this phase the interim manager proves their worth by demonstrating their competence, efficiency and sense of duty. An interim manager can lead teams and projects, resolve crisis situations and help implement changes or simply hold the fort until their longer-term replacement arrives.
The interim manager is responsible for achieving the set objectives and meeting the client’s expectations. In this stage they may provide training and pass on their knowledge, appoint others to carry on where they will be leaving off in the company’s everyday operations and share the lessons they have learned throughout the process. The experience they brought with them and have subsequently gained and passed on to permanent staff in the company represents significant added value.
The interim manager focuses on successfully completing their task, not just serving their time, ensuring that the exit stage is performed professionally. Often this marks the end of the working relationship between the manager and the client.
They can further their cooperation if new objectives with new deadlines are agreed upon. After their initial work is done, a VVT interim manager can also remain with the client in a supervisory role (again, upon agreement) to make sure that the long-term objectives of the company are met.
How does a successful partnership work?
In order for a project to be carried out, the client has to agree that an interim manager needs to be brought in to the organisation to manage the changes in question.
We look for a suitable candidate among our partners or network of contacts – leading figures, senior managers and specialists in the fields of general management, finance, marketing, sales, logistics, IT, production, purchasing and human resources. As a rule, we find the right person rather quickly.
We can find an interim manager for your company who:
- has relevant skills and experience
- will start organising your company’s work so that you achieve your business goals.
“Finding a suitable interim manager is significantly faster and more flexible than carrying out a executive search.”
When does the need for an interim manager arise?
- REPLACING A MANAGER. When a manager unexpectedly parts company with an organisation or needs to be replaced for a certain period (e.g. maternity leave, illness or military service).
- GROWTH. When an organisation experiences a rapid growth spurt, expands on its domestic market or moves into foreign markets.
- NEW PROJECTS. When launching and managing major projects.
- STUCK FOR IDEAS. When an organisation can’t continue in the same vein but can’t think how else to go about things.
- INNOVATION & DEVELOPMENT. When you create and implement strategies, plans, systems and processes.
- BIG CHANGES. When you’re faced with mergers, takeovers or a new ownership status.
WHY HIRE AN INTERIM MANAGER?
- The labour market is small, the pool of highly qualified workers even smaller and people’s work habits have changed.
- We can find you the best expertise in your field.
- Long-term management experience and outstanding results are a guarantee of success.
- Interim managers come up with solutions and take responsibility for implementing them within a specified period.
- What needs to be done to achieve a goal is evaluated objectively and ongoing feedback is given.
- You save on costs, since the interim manager operates with specific goals and results in mind over a fixed period.
- As a rule, the results are reflected in your profit margin.
- You have the flexibility of hiring an interim manager on an as-needed basis.
How long you hire an interim manager for depends on your company’s goals and volume of work: from as little as a couple of weeks to as much as a year-and-a-half. Statistics from the UK show that the average mission of an interim manager lasts for 8-9 months.
What characterises an interim manager?
- Speed. An interim manager can be drafted in at short notice and will stay with you for as long as you need.
- Experience. Generally, interim managers have held senior positions in companies for years and are highly trained.
- Independence & objectivity. Interim managers are not linked to the history, founders or traditions of an organisation. They look at your set-up from a new angle and focus on the areas that show the most potential.
- Results, responsibility & dedication. Interim managers are responsible for achieving results. Getting paid depends on it – as do good references.
Interim manager vs consultant
Based on their competence, a consultant advises a company and comes up with the best solution for it. With that, their job is done. An interim manager offers a solution, works with the organisation to implement it and takes responsibility for the work they have agreed to. The job of a management consultant forms part of the interim management service, but an interim manager’s job doesn’t normally form part of a consultant’s work.
SEEK AND WE SHALL FINDWe offer the only change management service on the market, as part of which we find and bring in to your company an interim manager with just the experience you need.
RESTARTWe can help you rebuild as a stronger, smarter organisation with a new lease on life.
NO MORE SLEEPLESS NIGHTSWe assess how well your company is running and offer you a sense of security that things are as they should be and that your results will meet your expectations.
CLEAR TARGETSWorking with your team, we give your vision a makeover, more clearly define your short-term goals and long-term strategies and help make sure your day-to-day work is geared towards them.
BRIGHT-EYED AND BUSHY-TAILEDWe assess the ability of your team and their managers to set and meet worthwhile objectives. We specify the division of roles in greater detail and help to ensure that everyone is motivated.
THE MIRRORWe advise and support managers when it comes to decisions they have yet to make or have already made.
SMART COSTSWe evaluate how appropriately and effectively your company uses its money. We help you ensure that your spending and investments support rather than stymie your goals.
SAYING MORE BY SAYING LESSWe assess the adequacy of the information needed to make management decisions. We chart and optimise work processes, areas of responsibility and chains of communication.
A WORKABLE PLANWe analyse your financial position, map your risks and highlight bottlenecks. We can be of assistance in drafting and implementing a business plan and finding funds.
LET’S DO THISWe replace managers temporarily and find leading specialists for longer periods. If needed, we can contribute to the work of your supervisory board as well.
EXPERIENCE & RECOMMENDATIONS
What our clients say about us
"Nobody who founds a company can boast that they’re competent in every area. That’s why they occasionally need someone to act as a mirror to them, to complement the team and to look at the company from a different angle. Here at Krimelte we hired an interim CEO from VVT whose first-rate experience and personal qualities were perfectly suited to the company and its everyday management. I’d encourage every company to think about hiring a interim manager."
Jaan Puusaag | Owner and Chairman of the Supervisory Board, Krimelte
"For our team here at Velvet, VVT’s been like the head trainer in some sports competition, using their experience and intelligence to help us work together to achieve the goals we’ve set ourselves. They inspire and encourage us to always do more, and always do it better – and give us advice on how we can do that without injuring ourselves in the process."
Pärtel Vurma | CEO, Velvet
"We felt like we were treading water, and in ever-changing market conditions that’s not something a successful company can afford to do. VVT’s been of huge help, giving us advice on coming up with and implementing new plans. We’re all sleeping much more soundly now we know we have a team of professionals supporting us, pooling ideas and helping to give us a new face and a new identity so that we can become a stronger and more successful company."
Margus Lever | CEO, Event Center