Readily available and highly qualified. Our interim – Q & A.##
When does a business benefit from assigning a finance interim manager?
An assignment makes sense if a business has to fill a vacant position - for example, due to dismissals, events of illness, or parental leave – for an undetermined period of time.
An experienced finance interim manager bridges this vacancy as a specialist or generalist, equipped with the necessary professional expertise and required practical experience, without a lengthy adjustment period. Also, for cases like project tasks, restructuring or reorganization and problem solving or additional work load, a finance interim manager is the ideal candidate. With his/her skills, he/she is complementary to your business. And, in comparison to a management consultant, a finance interim manager also takes care of the implementation.
What advantages does the assignment of a finance interim manager offer for your business?
Dependent on the individual situation, there are several advantages:
- High flexibility through prompt availability, flexible adaptation to different lengthed assignments, and transparent, plannable costs.
- High productivity of the finance interim manager from the first operating day on, due to immediate undertaking of activities without a lengthy adjustment period.
- High individuality through careful selection of candidates who will meet the exact demands of your business.
- Insourcing of missing expertise and experience through the finance interim manager´s sector and process know-how, as well as his/her professional and management experience.
- Finance interim managers are success and results-oriented. They are not thriving for a career within the company, and are perceived as neutral partners among colleagues.
Doesn´t it take too long for a finance interim manager to become productive for my business?
FIN-Consultants offer access to more than 650 freelancing, excellently qualified finance managers and specialists with proven qualifications and experience. Finance interim managers are success and results-oriented. Due to many years of professional experience in various companies, they have shown that they can comprehend the essential aspects of a task and become productive in a very short period of time. This is a crucial part of the requirements profile of a finance interim manager.
Isn´t the assignment of a finance interim manager much more expensive than a permanent employee?
No, the assignment of an finance interim manager is generally not more expensive. A quality comparison of costs considers different expense factors:
- Gross annual salary including success-related components, costs for business car, cell phone, etc.
- Non-wage labor costs for the employer
- Voluntary social benefits
- Average periods of absence due to illness, maternity leave, vacation, etc.
- Less productive work periods due to changing requirements
- Acquisition costs for permanent employees
- Costs of separation in case of the elimination of a position
- Costs for training, further education, and adjustment periods
You should also consider this: For on-off tasks, or repetitive, but time-limited tasks, the permanent employment of a finance manager is normally too expensive.
FIN-Consultants operate with the INHOUSE-concept for interim management and project tasks. That means the interim manager works „inhouse“ - has his/her workplace at the company. What is the advantage in comparison to consulting companies?
The finance interim manager is integrated into the company as an finance manager. Therefore he/she directly becomes acquainted with the corporate culture and is able to adequately consider the often crucial “soft factors“ within the processing of a task. Externally operating consulting companies can only consider information they are provided with, but for the most part, they lack inhouse experience. The INHOUSE-concept provides a verifiably more realistic picture of the company, its organization, the processes and people – which helps with the development and implementation of more successful concepts and solutions. The finance interim manager, in the majority of cases, contributes not only strategically, but also operatively.
Can our company expect the same loyalty from a finance interim manager as it can from a permanent employee?
Loyalty is an individual human quality, which is independent from any terms of contracts. Finance interim managers are careful to ensure that their tasks will be solved in the best possible way. A major asset of a finance interim manager is his/her reputation. Only when endorsed, can he/she acquire new mandates and clients – and be successful in the medium and long term. And only when you are satisfied with his/her performance, could he/she acquire further tasks and projects within your company in the future. Therefore, loyalty is of the utmost importance for a finance interim manager. A finance interim manager is a service provider and entrepreneur, not an employee.