Interim Managers FAQs
Here you can find the answers to our most frequently asked questions. Should you have any questions that are not covered below, please call us on 0207 936 2865 or email firstname.lastname@example.org.
What is ROI?
ROI, or 'Return on Interim' is our unique methodology which allows us to define, measures and demonstrates the success of our Interims.
Our four step methodology
1. Defining the success you want to see
We start at the end and focus on the outcomes that you want to achieve from the assignment. For every assignment we spend time understanding your organisation and goals. We define the end goals to provide clarity on the potential value added, or ROI.
2. Successful Interim Executives
We only select the best, so you can rely on our network of proven interim executives to solve the challenges your organisation faces. We measure results from day one so you’ll see, as well as sense, your ‘Return on Interim’.
3. See the success real time
We provide you with access to a real-time view of all your interim assignments through our ROI dashboard. This means you can manage the performance of each and every interim wherever you might be. We bring visibility to success.
4. Success delivered
At the end of the assignment we will discuss with you and your interim executive the overall success and payback of the assignment. We will agree what value has been delivered and how the legacy learnings can be developed and optimised.
What are the benefits of joining Interim Partners?
The tools we provide are designed to help those at every stage of their interim career, from executives considering interim management for the first time, to interim managers with a few assignments under their belts and even seasoned interim professionals looking for their next assignment.
We can also set up executive coaching, provide project management tools and arrange training to help you prepare for or manage an assignment.
How does the hiring process work?
Prior to presenting the shortlist of potential interims to the client, our consultants undertake a careful selection process, involving checking references, internal interviewing, etc.
Should you be chosen for the assignment, we have a thorough monitoring system that includes input from both you and the client. We require regular completion of timesheets and feedback, which guarantee clarity in relation to progress and payments.
While we have a strict monitoring system in place, each assignment is different, with some placements made in a day, and some – over three months.
Can I join your interim community if with you if I haven’t been an interim before?
While we prefer to work with experienced interims, in some particular cases your experience or references might make us reconsider. If you think you are qualified enough for a particular assignment, do get in touch with one of our consultants.
If you’re new to interim management, we would recommend having a look at the IIM website where you can find extensive information on the world of interim management.
Additionally, we provide some information on our website. Please see the Interim Manager section of the website, where you can explore a range of useful advice and toolkits.
Does it matter if I’m looking for a permanent role?
We expect our candidates to be professional interims and committed to interim management, but we understand that we operate in a flexible market. If you believe you have the passion and necessary criteria, get in touch with one of our consultants.
Do you provide networking opportunities?
At Interim Partners we value relationships. To keep in touch with our ever-growing interim community we host an extensive programme of events, ranging from breakfast seminars, to evening drinks and canapés, to webinars. They are great opportunities to connect with top industry professionals, as well as to be at the forefront of the leading research and insight in the industry. To find out more about our upcoming and past events please click here.
Please note that we receive a high level of demand, and the events tend to sell out quickly, so please register your interest to email@example.com and avoid disappointment.
What is the average length of assignments?
It is hard to define a typical interim assignment. However, research shows that an average assignment lasts circa 170 billable days.
Typically, eight out of ten assignments are extended.
Can I change sectors?
It is rare that a client would agree to accept a candidate with no experience in the particular sector. However, if you believe you have the passion and qualifications to apply for an assignment in a sector for which you haven’t previously worked, do get in touch with one of our consultants. A number of sectors are interlinked and share common skillsets. Ultimately, we are led by our clients so as much as possible we try to stick to the client’s brief while remaining as open as we can to offer expert opinion and alternative options to finding the right interim for the job.
What compliance documents do I need to work with Interim Partners?
Prior to any formal offer we will require the below additional compliance documents related to your limited company, which can be uploaded within your Profile on the Interim Partners website:
- Proof of insurance cover (we require £1m professional indemnity cover and £1m public liability insurance)
- Proof of business banking (company bank statement or paying in slip or letter from your bank)
- Details of referees covering a 2 year period, if not already supplied
- Certificates of all relevant qualifications
Please also familiarise yourself with the Conduct of Employment Agencies and Employment Businesses Regulations 2003 as we will require confirmation of your position on opting out/not opting out of the Regulations.
How do I determine my day rate?
In short, the market dictates your day rate. There are a number of factors that influence the rate, such as availability of talent in the industry or the particular requirements of each assignment. Please refer to the IIM survey for an indication of existing day rates for interims of various calibre.
Typically, you will be asked for your preferred daily rate range, after which we will be able to advise you whether that is realistic and will negotiate it with the client. Most people work to a range, rather than a set rate.
Who do I invoice?
Should you be placed for an assignment, Interim Partners will be your point of contact with the client. Upon acceptance, you will be asked to sign a contract with us, and we will take care of all the financial issues with the client so that we can ensure that your invoicing and payments are processed to our high standards.
How long will it be until I get my first assignment?
Each situation is different, and the timescale of recruitment process varies from 24 hours to months of search. While you are between assignments, it is good practice to build relationships and market yourself in the industry. Our networking events present great opportunities to do just that. To see if we have any suitable events coming up please click here. Alternatively, you can register your interest here firstname.lastname@example.org.
I haven’t been successful. Why?
Unfortunately the volume of applicants we receive is far greater than the very small number of interims required for the assignments. Make sure you’re registered with us and be patient – that is the best advice we can give!
As the IIM's highest ranking service provider on average since their survey began, we would agree with the IIM in advising interims, new or experienced, that registering with an interim management company is a smart move.
The recent IIM survey has suggested that 90% of the whole interim market is covered by a handful of interim management providers. If we are unable to help you this time, it is possible that the next assignment will be yours.
Do I need to meet more of your consultants?
In most cases, no. Word of mouth and recommendations travel a long way, and our consultants often refer their interims to colleagues for other suitable assignments in the practice group. Interim Partners is a real community, and if you’ve met one of us, you’re part of it.
What is IR35?
IR35 refers to the United Kingdom's anti-avoidance tax legislation designed to tax "disguised employment" at a rate similar to employment.