Imagine this, one of your best financial controllers has handed in their resignation letter. They’ve been integral to your finance teams’ success but are moving overseas to pursue a new role. They’re in a critical role where you need to replace them quickly, but you’re wondering how you will find a qualified permanent employee to fill the gap.
This is the perfect storm to turn to an interim manager.
But if doubts start to arise about engaging with one and their commitment to your organisational success, we are here to clear up these misconceptions.
Interim managers have become a familiar aspect of both SMEs and larger businesses. Among smaller businesses, however, there are often still misconceptions about temporary leadership, ranging from ideas that they are expensive and just to be used as a last resort to beliefs that they only offer temporary solutions and are less committed. In fact, the opposite is true.
Whether you're a seasoned executive navigating organisational change, an HR professional seeking to fill critical skill gaps, or an aspiring interim manager yourself, we will help provide clarity, guidance, and insights into the world of interim management.
Gabriela Oxby, Division Manager at Robert Half is a seasoned professional in providing experienced and cost-effective project-based & interim finance and accounting resources to businesses across Singapore. With half a decade of experience in this area, Gabriela spearheads a dedicated team that provides temporary recruitment services to ensure the seamless day-to-day operations of finance functions. The team also cater to the specialised need for executive skills on an interim basis, particularly when pivotal C-Suite positions become vacant.
Exploring interim management as a solution for the first time can feel overwhelming, but in the capable hands of Gabriela, let us guide you through evaluating its suitability for your needs and making informed hiring decisions.
In this article, we demystify the role of the interim manager, highlighting their crucial contribution to navigating today's business needs.
Assuming that interim managers are more expensive than permanent staff because of their higher hourly rates is comparing apples with oranges. After all, when you compare the total costs of an interim manager with those of a permanent employee, other factors need to be considered. Interim managers bring their expertise and experience to the company with them, meaning they can get results more quickly than new, permanent staff. Bringing in an interim manager also eliminates the cost of recruiting and training permanent staff members.
In addition, contractual management talent can start work quickly. That’s an advantage in urgent situations when there is no time for a long recruitment and onboarding process. And because interim managers are deployed flexibly for temporary assignments, companies only pay for the time and work that are necessary. Finally, the recruitment of a permanent employee who turns out to be not the right fit works out more expensive than getting the perfect ‘plug and play’ solution immediately, in the form of an interim manager. The cost of wrong hires is more expensive across the board, not just in terms of time and money. Recruiting the wrong person often has a negative impact on their colleagues – and it’s impossible to put a price tag on that.
Gabriela outlines the fact there are many costs that are associated with permanent staff that are not present when calling on interim managers. She says, “given that interim managers are typically engaged for short periods, the overall cost, even considering their expertise, is often lower than expected, especially without additional benefits like leave entitlements.”
The fact that short term management talent are not looking for a permanent job doesn’t mean they are not committed to helping companies achieve their long-term goals. They are often extremely dedicated to the success of the organisation they are working for, precisely because they are only working on a project for a limited period. As experienced professionals, interim managers understand the importance of delivering results on time. This makes them highly motivated to achieve the company’s targets. And if the project takes longer than expected, an interim manager will demonstrate loyalty in continuing the assignment until the goals have been reached.
In Gabriela’s experience, she has never come across a lack of dedication or motivation from an interim manager she has placed. She says, “interim managers move from one business to another, and in order for them to land their next role, they always strive to maintain a really clean track record to ensure they have high quality references. They are driven and experienced individuals who put everything into ensuring they leave the business in a better state they entered it.”
Furthermore, interim managers bring a fresh pair of eyes and new ideas to an organisation, which may reinforce their involvement and motivation. They are passionate about adding value and making an impact. They also understand that their reputation and future opportunities depend on their performance and achievements. That is why they go to such great lengths for the company they are currently working for, just like permanent staff.
“I can see where this misconception comes from, because often they are,” says Gabriela. “This is an interesting one, because I see this more of an issue as a candidate rather than a business. Candidates might feel I’m only ever calling them because a crisis is happening and we need then to step in. In these instances, there’s so much to assess, changes to be made so any candidate who takes this on will be working really hard to find solutions. But they know what is expected and this is why they choose to have a career in interim management. My role as a recruiter is to articulate the challenge that lays ahead of them so the candidate is clear on expectations and can make a well-informed decision as to whether it is the right opportunity for them.”
Despite this being common, interim managers are not only brought in as a last resort to put out fires.
They can be used to reach strategic goals, lead change processes and add specific expertise to the organisation that may not yet be available. It is true that interim managers are often deployed for restructuring, mergers, takeovers, implementing new systems, change processes and the like. However, they do not consider these to be emergencies, but rather opportunities to contribute actively to the growth and success of a company. Interim managers are not mere crisis managers, but also experts who contribute their experience to companies to improve processes, systems, tools and teams and take them to the next level.
Due to the temporary nature of their assignments and the flexibility and variety that interim managers are looking for, it is true that they don’t stay in one company for years at a time. However, that doesn’t mean they pay no attention to the company culture. Interim managers are very aware of how important it is to understand company culture if their assignment is to succeed. Many of them indicate that they would rather pass up on projects than accept an assignment in a company or sector that doesn’t feel like a good cultural match.
Interim managers go to great lengths to understand the customs and values of an organisation, since doing so paves the way to good communication, collaboration and achieving the targets. Understanding the corporate culture enables them to respond more effectively to the organisation’s needs and integrate themselves smoothly into the team. That allows them to flourish in their role and derive great satisfaction from it, further increasing their motivation.
This is perhaps the biggest misconception of them all, because it ignores the results that many companies have achieved by deploying interim managers. Although the appointment of interim managers is temporary, this doesn’t mean their contribution to the company cannot have a lasting impact. They often bring new perspectives, strategies and best practices that have a positive influence on the company culture, processes and performance in the long term. An interim manager frequently acts as a catalyst for positive change and growth within an organisation.
“We often put in someone who is over-qualified for the job at hand. This means they can come in and hit the ground running while providing long term value add,” says Gabriela.
Furthermore, interim managers can continue to have a lasting impact even after their assignment has ended, by passing on their knowledge and experience to the internal team. That way, they leave a legacy behind – and the organisation can continue to reap the rewards.
Gabriela says, “The biggest pushback business leaders give to hiring interim managers is they say think they can split the responsibilities with their existing staff to save time and money. However, this can do more damage to the team performance and company culture. People end up leaving because they are worked to be bone, or they expect to the promoted to the open position when really that was never the intention. Ultimately, filling gaps with people who aren’t fully qualified for an interim job can result in two people leaving instead of one.”
Dividing duties in the team is often used in more cost-conscious environments and it can yield greater saving up front, but it can contribute to poor culture and an unhappy workforce but asking them to do more until such role is covered. You roll the dice on more attrition and resignations by pushing a workforce too hard.
“You might be surprised about the skills that are sitting in the Singapore market and how quick interim managers can come up to speed. Hiring people who have done prior contracts (especially in the industry a business is hiring for) can be advantageous because they are used to being dropped in the deep end, not knowing historical information or stakeholders, but can act autonomously to find and hunt that information to deliver great results,” says Gabriela.
“Our senior interim finance division on senior roles has an almost perfect success rate, meaning no one pulls out of their contracts.”
Gabriela says when you deal with senior people in market, they behave very differently because they are managers themselves and they know what it’s like to be promised something, and it not being delivered.
"Senior interim managers rarely break their contracts. Their professionalism and business acumen ensure thorough discussions upfront, establishing clear expectations and minimising attrition. Maintaining open communication with a skilled consultant further supports a successful engagement."
As you’ve discerned, interim managers are not simply placeholders or stopgap solutions. They are highly skilled professionals with the experience, adaptability, and focus to deliver tangible results in times of transition and transformation.
By dispelling the myths and misconceptions surrounding interim management, we hope you have gained a deeper appreciation for their value and potential. The right interim manager can bring fresh perspectives, specialised skills, and a laser focus on achieving your objectives while bridging gaps and ensuring continuity during periods of uncertainty.
So, the next time you encounter a challenge or opportunity that requires immediate action and expertise, consider the strategic advantages of engaging an interim manager.
Where can I find qualified interim managers in Singapore?
Specialised recruitment firms like Robert Half can find high quality interim managers in Singapore. We have a wide candidate base of high-quality and senior interim managers ready for their next role.
What are the benefits of hiring an interim manager?
Immediate expertise
Flexibility
Objectivity
Risk mitigation
Agile solution
Cost-effective
What types of situations call for an interim manager?
When you face a sudden leadership gap
Need specialised expertise for a specific project
Require support during organisational change or transformation
What are the key considerations when placing an interim manager in my company?
Clearly define scope of work
Skills and experience match
Cultural fit
Communication and transparency
Clear contractual terms
Support and onboarding
