For the progressive decision maker
Take control
Importantly, in most cases you 'tailor' the time period for the Interim Manager to your convenience. Of course, you could start off on this basis and find they prove invaluable and you elect to make the individual a permanent member of your organisation. You would certainly be in an ideal position to assess their skills, qualities and attributes at first hand. One presumes the financial reward structure would be different if they went permanent and request you advise us should this be the case and a one-off fee agreed.
Expectations of Interim Management
For convenience many Interim Managers form their own limited company, which allows them flexibility in employment. This ensures their 'new' organisation will not have to pay the various benefits applicable to a permanent employee.
Typical Fees for Interim Managers are as follows:
Middle Management £350 - £950 per day + VAT (including all fees)
Senior Executives up to £1,500 per day + VAT (including all fees)
However, all rates will be subject to agreement before any interview takes place: a short list of three candidates would normally be reasonable for an assessment of suitability and in every case all candidates will have been personally interviewed and selected by a Director of this company.
Looking facts in the face
If one takes as an example a permanent employee on £70k (actually costing at least £101k plus), the normal ratio will be that that person in some way will need to earn the organization three times their basic salary i.e. £210k per annum (some might say five times). If it takes a minimum of four months to recruit a new person and another two months settling in period (a minimum) the immediate cost lost to the organization = £105k. Some say far more.
Rarely has there been more choice for an employer to structure or restructure an organisation in an efficient and cost-effective fashion and the Interim route might just be the perfect solution for you.
If there is a recruitment problem to solve - our solution is almost an instant one and just a telephone call away. Alternatively you may prefer to email us and we shall respond promptly. Click on Client Enquiry.
