While many companies already experience the benefits of interim managers, many still don’t. Often, ‘COST’ is cited as the main reason.
Is that really so? Is an interim manager really expensive? More expensive than someone on the payroll? More expensive than having employees trained in a new expertise? And should you only look at cost? Will contracting an interim manager really … KILL YOUR BUDGET?
The answer is no.
On average (depending on role, duration, experience) the daily cost of an interim manager is within a price range of €750/day to €1000/day (excl. VAT and normal expenses & agency fees included). This cost is the total cost for a company. Taking total cost into account, an interim manager is a budget friendly solution. That’s demonstrated in the overview below.
Apart from the financials, contracting an interim manager provides you with extra benefits:
- The services of an interim manager can be stopped by contract. No need to take into account long/costly firing procedures or dismissal fees.
- The cost of an interim manager is limited to the actual working days. No need to pay in case of absence due to disease, holiday or career break.
- If you foresee heavy workload, having an interim manager helps out the team (perhaps not full-time) – rather than having managers and employees getting overworked and thus delivering lower quality work – is a cheaper solution.
- Often an interim manager is more quickly found on the market and can start right away.
- Because of their relevant experience, interim managers are very fast up and running and give you a head start.
- Interim managers are highly focused and result-driven; they operate with a high sense of responsibility.
- Interim managers can bring expertise you don’t have and/or don’t need fulltime in-house. But having it temporarily will be an added value and might just give you the competitive edge you’re looking for.
- Interim managers provide you with a fresh set of ears and eyes. They have plenty of experience from previous jobs and projects in different companies and sectors. As such, they are the ideal partner to provide you with an ‘out-of-the-box’ view.
So, if you ever feel stuck with too many projects and too little staff or if you lack expertise in your team, don’t let the cost of an interim manager scare you away. The financials way out. And the non-financial benefits will more than outweigh all the rest.
Need help in finding your interim manager? Contact www.madeinheaven.be. We’ve got interim and project managers in sales, marketing, product management and innovation. We only suggest the candidates that already did what you need them to do. We’ve got the match… made in heaven.