Getting To Know Your Consultant
Being a professional Interim Manager is a challenging career path. Here we talk to Stephen Day, a relative newcomer to the profession, about his experiences and the advice he would give to others.
Stephen, people get into Interim Management for a variety of reasons. How did you start and what were you doing beforehand?
I started just over 18 months ago after leaving my position as Managing Director of a consulting business. Before this, as a Chartered Management Accountant, I held a variety of senior finance and general management positions in service businesses. In particular, my career has focused on the development of organisations through both organic growth and acquisitions.
So far I’ve held two interim positions - both sourced through Interim Partners. My first 10-month assignment was to support the Sheffield Primary Care Trust in a turnaround project aimed at delivering financial savings of £23.5m through service redesign. The timing of the project made it a particular challenge as we were working through significant organisational change involving a new management team and a merger of Trusts. Ultimately, through the management of work streams, we achieved total savings in excess of the target.
You have a broad experience of working in challenging business environments but what attributes do you think Interims need to succeed? You’ve also worked as a consultant and an Interim Manager - what are the main differences?
To succeed as an Interim Manager you have to be able to embrace, and be comfortable with change. You need to be adaptable, a good communicator so you can share knowledge, and be very good at building relationships quickly. Sometimes when you arrive at an interim assignment people in the organisation can feel threatened. A good Interim will be able to put people at ease and tune in to the underlying politics very quickly. I think the main challenge for Interims is to ‘hit the ground running’ and to have the courage of their convictions, which obviously come from experience. Another important challenge is to always keep in mind that the assignment is temporary and that it’s essential to maintain a strong network so that you can find your next role.
From my experience, the main difference between a consultant and an Interim comes down to strategic implementation and delivery. Generally, Interims are much more hands-on - they have to actually deliver strategic objectives which involves clear management and the ability to sell ideas. Consultants tend to ask a lot of questions and advise on direction but implementation happens elsewhere.
Getting to grips with a business quickly is vital for an Interim. How do you go about doing this?
Before I start an assignment I try to get a thorough understanding of the organisation using mainly desk top research and my network. This gives me a good base. I will also have agreed a clear set of goals at engagement, which I use as a basis for discussion with the existing management team once I arrive. My initial session with the management team is vitally important because it helps me to identify the key things that need to be done to ensure I achieve my goals. I also read internal documents such as the company’s accounts, Board reports etc. and spend time understanding the business and market dynamics by talking to the wider team.
What do you look for in a new assignment?
I have been fortunate in that Interim Partners has supported me with a number of exciting opportunities. My main objective is to continue to gain a good balance of experience from both Public and Private Sectors. I want to continue to learn and stretch my capabilities through exposure to new and inspiring challenges and pass on that knowledge to my clients.
What advice would you give to someone thinking of a career in Interim Management?
My advice would be to be very clear and focused about your own skills and how these could be applied beneficially to a particular sector. Companies that use Interims tend to have very specific needs and are looking for experienced individuals who can get things moving quickly.
I would also recommend that before going into Interim Management you have a reasonable level of financial security. The rewards are good when you are working, but you may be ‘resting’ for several months each year.
What do you enjoy outside of Interim Management, and how do manage the work/life balance?
What I enjoy most about Interim Management is the flexibility it gives me to pursue my other interests - I also have a property development business, in the UK and South Africa and own some horses. The work/life balance can be difficult to achieve, as there is always uncertainty about the next assignment, and when you are in the middle of an assignment it tends to be full on to meet the client’s expectations. It’s challenging but fun, and I would not have it any other way.
