How to select an interim management provider?

There are many interim management providers throughout the UK, Europe and the USA. Indeed the choice now appears to be so large it must be difficult for client organisations to decide where to start with the search for an interim manager.

I have listed below a number of considerations that might be useful in your decision making process.

• Expertise – does the interim provider already service your industry/operating sector? Ask how many assignments they have fulfilled in equivalent roles over the past 12 months
• Geography – Is it important that you can meet with your provider on a regular basis during the assignment? If yes, then choose a company which operates relatively locally to your organisation
• Flexibility – Do they always get back to you when they say they will? How quickly did they respond to your enquiry or request?
• Heritage & Size of Organisation - Is the interim provider a long established company. Have the senior executives worked for the company for some time. Do they have an established database of pre-qualified interim managers?
• Interim Manager Vetting – how does the providers vet their interim managers? Do they conduct face to face interviews with all managers prior to short listing?
• Code of Conduct – Is the interim provider bound by a code of conduct enabling you to be safe in the knowledge that you are dealing with a reputable company?
• Size – Do you want the reassurance that you are dealing with one of the larger providers or are you comfortable dealing more with a smaller concern which may be able to provide you with a more bespoke, flexible service.
• Financial Stability – Are they a financially viable business? are their rates competitive against their competitors? Interim providers will always ask you for exclusivity for up to 48 hours from receipt of an assignment. It may make more sense for you to select 2-3 providers at the enquiry stage rather than offering one company total exclusivity as assignment fees vary considerably from provider to provider.

Of course ultimately chemistry also plays a vital part because you have to have confidence that you can work with your chosen partner. Good Hunting!