“Many companies are encountering a shortage of senior management talent. Due to recent downsizings they often have very little executive bench strength and so they consider a flexible talent solution–interim managers–as a way to turn around performance, provide temporary leadership for projects, or assist with transitional periods. For these reasons interim management assignments are a growing career choice, not a temporary employment opportunity for many individuals.
In order to be considered for an assignment a person must demonstrate certifiable functional skills in areas that include operations, human resources, technology, supply chain, sales, marketing or finance. They should also have a quantifiable record of achievement and demonstrate flexibility and self-sufficiency.
There are obviously pros and cons to being an interim manager.
On the plus side there is the flexibility of being your own boss, the challenges brought about by dealing with new issues, solutions and people. There is also the benefit of not having to deal with corporate politics.
On the negative side an interim is generally responsible for their own benefits and may be gone from home for extended periods of time. You will also have to be good at marketing yourself directly to potential organizations or interim provider firms such as Executive Smarts.
If you do decide to become an Interim Manager we also recommend that you establish an LLC or similar type of business structure and obtain business insurances to include personal liability and indemnity. You should discuss these with your accountant and/or attorney to ensure that you are properly protected. Also consider establishing a contract that you can use if dealing directly with an organization.”
For more outstanding advice as well as a great window into the current job market be sure to listen to this show on Thursday at 8:00pm or you can download it on Chapelboro.com, under 1360 WCHL and The Art of Potential show.