What is Executive Interim Management
Executive Interim Management is the provision of an effective business solution by an independent senior manager over a temporary period of time. It could cover the crisis, business development, transition, project management, or a critical situation.
Who is an Executive Interim Manager
An Executive Interim Manager is a senior well-qualified manager, with previous C-Level experience, available at a short notice.
As businesses in their own right, they offer independent expertise, free of company politics, and take responsibility for delivering results, not just offering advice.
What is the typical duration of an interim project
The duration of interim management projects is very individual. It can vary between 3-6 months in critical situations (unexpected vacancy) up to 18-24 months in complex transformation projects
What is the contractual relationship in an interim project
An interim manager is an independent external manager. He does not become either the client’s employee or an employee of EIM. Your contractual partner is the respective EIM office worldwide.
How does the process of engaging an interim manager look like
As the first steps, we understand your business context, business concept and listen to the challenges you face.
Secondly, together with you, we design the expected result of the interim mission.
We usually present a suitable interim manager within 48 hours, who is ready to start within days.
More about our process can be found at https://www.eim.com/cee/how-we-add-value/
What is the difference in speed to Executive Search
A typical executive search process in the CEE region usually takes 3-6 months, followed by a termination period of the manager, usually additional 3-6 months.
Usually, you receive a long list and wait for weeks to check their interest and availability.
In 98% of our projects, we have presented 3-4 suitable interim managers within 48 hours, and they are ready to start immediately. Worldwide.
What is the difference in approach to Executive Search
An executive search company needs a manager profile to start the search either within their database or via available social channels to identify managers compliant with the profile. Then the CVs are „sold” to you as a service.
Each EIM partner is a former C-Level manager with international experience. We understand your business challenge, agree on expectations of the mission, and then select the right manager from our Nurtured Knowledge Community, with whom we lead your company through the changes. EIMPartners remain active during the whole interim project, facilitating communication and offering support.
What is the difference in approach to Consulting company
Consultants, in general, offer specialized advice or recommendation on a certain topic.
An interim manager has a broad practical experience and also takes an active part in the implementation of the changes. Interim managers have a hands-on and a roll-up-your-sleeves approach.
Consultants are also very qualified, but usually more junior people. Interim managers bring at least 20 years of practical experience.
Every head-hunter claims to have the best candidates
Yes, and it’s true. They might have the same candidates, as they are fishing in the same pond.
Interim managers are not looking for a job. They would never share their CV with a head-hunter.
Head-hunters do not have an approach and a relationship with interim managers. They might have a list of permanent managers looking for a job.
At EIM, we are not headhunters. Our Nurtured Knowledge Community has been built over the past 30 years and consists of proven managers we personally worked with in one of our 10,000 missions.
Can an interim manager stay as a permanent employee
Although a true interim manager would never accept permanent employment again, there is a certain percentage of interim managers, that are open to remaining as permanent employees after the interim mission.
How are interim managers paid
Each interim manager has his own „price” – his daily rate. Based on the actual days worked the monthly costs are invoiced (number of days worked x daily rate)
How much does an interim manager cost
First of all, an interim manager is not a cost, it is an investment will a quick ROIM Return on Interim Manager and lasting positive results.
The daily rate of an interim manager depends on many factors, mainly qualification of the interim manager, his/her seniority, duration of the engagement and many other factors.
Do I have to pay for overtime hours extra?
There are no overtime hours.
The interim manager is either a consultant charging on an hourly basis or an employee with a labor contract. It is a delivery of a business solution, not a delivery of consulting service or working hours.
Do I have to pay holidays to interim manager
An interim manager is paid only on the actual days worked on a project. There are no holidays during a project.
When an interim manager is on a project but needs to take „a day off”, it is not invoiced.
Interim managers enjoy holidays in between projects.
How can I find interim managers
In general, there are the following options:
- own network, which is too small for a perfect match
- social media, which takes too long, with a questionable result
- recruitment company, which is a recipe for a disaster
- digital platform, if you consider interim manager to be a refrigerator, TV set or a USB stick and decide based on stars rating
- specialized interim provider
In a short: 67% of assignments are via providers, 2% are via social platforms, 8% over referral.
For more details, please visit a dedicated micro-page https://www.eim.com/cee/interim-provider-projects/
What happens at the end of the interim project
Towards the end of the mission, the interim manager embeds the changes into the organization, to leave a positive long-lasting legacy.
If a permanent manager is to take over, there is a friendly hand-over or a shadowing period.
After this it’s simple. The interim manager leaves. No termination periods, no redundancies, no trade unions, no feelings hurt.
How is the confidentiality treated
We understand you share with us your secrets, both the successes and the mistakes. As you can (or actualy can not) see on our web-page, there are no references, logos and testimonials.
Confidentiality is key for us. We never share who we work with and on which topics.
Each one of our interim managers has a signed Non-disclosure Agreement with heavy penalties for each breach.
What is the role of EIM during a project
The EIM partner takes over the overall responsibility for delivering results. He acts as a mentor of the interim manager and is a trustworthy, capable point of contact both for the client and the EIM Interim Manager.
The EIM partner facilitates communication, escalates when necessary and holds regular meetings with both, the client and the interim manager.
How long it takes to engage an EIM interim manager
We provide rapid access to expertise or change management skills not immediately available in your company.
We present a perfect match, an immediately available interim manager within 4 days maximum, worldwide. Our interim managers are available immediately.
What is EIM success rate in interim projects
Over the past 30 years, we have filled 99% of interim projects confidentially from our Nurtured Knowledge Community.
82% of goals set have been achieved on time and within budget.
What if I need additional resources
30,000 managers in our community.
25 offices worldwide
As the EIM partner is actively involved in the project, he can immediately get additional resources for the project.
What if I am not satisfied with the performance of the interim manager(s)
This is exactly the added value compared to recruiters, social networks, digital platforms, „interim providers” and EIM.
The EIM partner is actively involved in the project, facilitating communication, sharing knowledge, and, if necessary, dealing with critical situations. Each EIM partner is a former C-Level executive, strategic consultant, and interim manager. We have been in critical situations ourselves, we understand your business concept.
At first, we provide our support, mentoring to the interim manager and your employees if necessary.
Secondly, if the scope did change significantly, or you have other expectations, we engage another interim manager, or a complete team, as a replacement for the initial interim manager(s).
If any of these solutions do not work, we respect your opinion and cease our cooperation without any redundancies, termination periods, or penalties.
Let’s discuss how we can speed up your value creation or recover value
Bohuslav Lipovsky, Managing Partner
EIM Executive Interim Management CEE
Together we can find the solution you are looking for
Bohuslav leads companies and their managers through complex changes resulting from crisis, restructuring or post-merger integration. He focuses on working with private equity firms and international corporations. His strength lies in developing a transformation strategy and leading of multi-cultural teams.
Bohuslav has international experience, he has been active in interim management for several years, speaks several languages, and has extensive experience from numerous projects.