Find Out More About The Role Of An Interim Manager
If you are new to Interim Management contact us to receive a copy of our “Getting Started Guide”.
What Do Interim Managers Do?
Interim Managers work on a self employed basis on a fixed term contract with a client. The type of work varies according to the client’s requirements, and the Interim’s experience and capability. Interims differ from consultants in that they take real responsibility for the assignment. They do not just advise, they do! It may be that the client has a special project that needs managing, or maybe has a management gap that needs filling urgently. The nature of the assignment needs to be specified in the contract.
Where Do They Do Tt?
Anywhere in the UK, and potentially worldwide. Often the nature of the assignment dictates that all the work is carried out at the clients’ site. It is usual for interims to be flexible in where they work often travelling back home at weekends. They do not permanently relocate. It is preferable, as it helps to maintain the self employed status, if some work can be done off site, at your own business premises (or home office). The contract should make provision for this.
Who Can Be An Interim Manager?
Interim Managers are usually ‘sensibly overqualified’ for the assignment, so they will have attained a fairly senior position in their career. They will usually operate as an interim at a level or two below the most senior position achieved in ‘permanent’ employment.
What Do They Get Paid?
A fixed daily rate for the duration of the contract, which usually includes an element for expenses.
If the contract falls outside of IR35, Interims do not go onto the client’s payroll and this brings many savings to the client which need to be reflected in the daily rate. Interims are ‘sensibly overqualified’, have a proven track record and will be able to make an immediate impact, without the usual honeymoon / induction period. Client costs are saved such as national insurance, holidays, sickness, training, administration, company cars, pensions and other benefits. Also, there are no ‘exit’ costs at the end of the assignment and Interims are usually available immediately.
If the contract falls within IR35 then the Interim Manager will need to go onto the client’s payroll
There is a useful government calculator to help you assess how the contract should be set up here