Are you easily bored? Fed up with office (or factory) politics? Relish a challenge? Then interim management could be for you. Straight in, straight out, job done. Next!
The downside, of course, is that you never know what comes next or when your next pay cheque might come in. You may also become very unpopular with your long-suffering spouse whom you might only see at weekends if you're lucky.
So where are the opportunities in interim management today, and how has the recession impacted the market?
Interestingly, some commentators believe that up to 30-40% of the workforce is 'poised to move' this year, "having lingered in their current roles due to instability in the market", notes Lisa Johnson, md at interim management and recruitment agency for the food and drink industry, Jarvis Johnson: "If this is true, then the unnaturally static workforce that we have seen over the past year will be on the move again and more interim managers will be needed to plug gaps created while permanent replacements are found."
Right now, however, supply typically exceeds demand, especially in interim HR, commercial and operational roles. But in other fields such as product development and engineering, the picture is more positive, she says. As for technical management, specifications and hygiene management, a good interim manager should have no trouble finding work.
As Scott Hutchinson, md at the Hutchinson Consultancy, observes: "If you are financially stretched and you lose a key production person, you can always promote someone else in operations or muddle through until you find a replacement. Even the md can take on the operations director role in a smaller business if he has an ops background. But if your technical director resigns, you have to replace him with someone with the right skills. You can't just 'make do' or cut corners on compliance."
As one interim manager adds wryly: "There are always technical manager jobs available but they tend to be the whipping boys of the food industry and therefore move around a great deal."
Maternity leave also creates interim management opportunities, as well as major headaches for employers, admits one industry source: "A contentious issue is staff going on maternity leave with no clear indication of when they are returning. This creates a demand for interims, but due to the ambiguity of the length of appointments, it can be harder to find a solution."
Of course, not all interim contracts come about because companies lose a member of staff and "call in the emergency services" while they try and find a permanent replacement, notes Hutchinson. Indeed, many manufacturers will actively seek interim managers because they need someone with a specific skill-set for a particular task for a limited period whether it is building a new factory (or closing one down), or developing a new range of ready meals for a supermarket.
Similarly, while employees may be less likely to switch jobs during a recession, the pressure retailers have been exerting on suppliers over the last 18 months has had a disruptive influence on the labour market, which again creates opportunities for interims, says Hutchinson. "There is no such thing as stability in the food industry. If a supplier goes under, whoever picks up the business will need to ramp up fast. That will often mean drafting in interim expertise."
But economic uncertainty can also stimulate the interim market in other ways, he says. While shelling out £300-£650 a day for a good interim might seem pricey, he points out, many employers don't know where they will be in three months, never mind three years, and adding more permanent staff to the payroll and pension scheme is just too risky.
Companies are also increasingly seeing the cost benefits of parachuting in a highly skilled interim to launch a new strategy or system that can afterwards be maintained by a less experienced permanent member of staff, says John van Blerkom an experienced interim manager with an engineering background.
Indeed, interims are arguably key drivers of change in any industry, he says, not least because they have amassed such a wealth of experience in such a short time sometimes gained from entirely different industries and can always bring something new to the mix, he argues. "An interim should be ready to move from one industry to another and back again."
He adds: "Many industries require the same skill-sets and when he returns to food, the interim has new visions to offer. The benefits are shared, the client gets a better interim and the interim commands a reasonable fee."
The market "has held up well for experienced interims with a good track record", adds Blerkom. However, the influx of people entering the market because they have lost their jobs rather than out of any burning desire to 'go freelance', has depressed rates, he argues. "Some are just looking for an opening for a full-time job; others see it as easy money. Both depress rates.
"Also, in my opinion, standards drop. That said, if the assignments are not there, dropping rates will not create them. True assignments are from a business need or short-term skills gap normally due to expansion or contraction."
Former Cadbury new product development guru Colin Dudley, who became an interim manager/consultant in December 2007, has managed to maintain his rates during the recession, but agrees that more people are now joining the interim market through accident or necessity rather than design, adding: "Day rates are being compromised by those looking for interim roles until a permanent role comes along.
"This is fine as one needs to eat but it does put pressure on people who've made a career choice to set up an interim management business."
While things have been "quiet" over the last 12-18 months if you're looking for a more senior interim assignment in innovation, says Dudley, things could change: "Companies I've spoken to are upbeat about new initiatives to drive growth, and I'm not sure they can achieve their plans with a reduced research and development/product development/commercial pool, so I maintain the view that interims will be needed to fill the gaps."
Not up to the job?
So what type of people make good interim managers, and is the profile changing? Alan Donaldson, md at recruitment consultancy AIM Interims, says 70-80% of aspiring interim managers are "simply not up to the job". And many might even admit this, he adds. "A lot of people are doing it as a stopgap they are not professional interims."
Lorraine Coates at consultant Walker Cox agrees: "Almost every unemployed senior manager believes he can be an interim. Traditionally, good interims were chosen from the best in class available from anywhere in the country. Now there is always someone available at half the price with half the skills. The market is confused."
But age is not the issue, stresses Donaldson. "It's not the years of experience you have that matters. What counts is relevant experience, your will to succeed, your mindset and your ability." While the depressed state of the market might mean that some interims are offering their wares for £200 a day or less, he says, employers should approach them with caution. "I know someone that secured £1,500 a day on a interim contract. But it was a drop in the ocean compared to what he did for the firm that employed him. You get what you pay for."
Ian Simkins, a director at recruitment consultant Quantica Search & Selection, says it is quite normal now for people with 1015 years' experience who are "nowhere near retiring", to set up as professional interim managers.
In many cases, he says, they are simply bored of the day job and want to do something where the end is always in sight. "If you are good at what you do and you don't mind the lifestyle and the travel, it can also be lucrative", he says. "But if you're only doing it for the money, you won't be satisfied. You have to be a certain kind of person that can cope with uncertainty and above all, you have to be flexible. If you are set in your ways, interim work really isn't for you."
Bob Hartley (see box below) also believes that skills and relevant experience are more important than age, and says that interim management is no longer the preserve of people who are a couple of years away from retirement.
He adds: "I go to a dining club for interim managers in London a few times a year. And put it this way: I used to be the only one there without grey hair. Not any more! FM
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THINKING OF GOING SOLO?
Becoming a career interim is not for the faint-hearted, but if you like a challenge, cope well with stress, and don't mind living out of a suitcase, it can ben very satisfying.
Bob Hartley, who has been doing interim work in operations roles for six years, admits that leaving your house at 4.30am on a Monday morning and returning at 10pm on a Friday is not for everyone, but says he thrives on the adrenalin. "You haven't got time to 'learn the ropes', you've got to get in there, size things up and make decisions immediately."
To stay in work, however, networking is crucial, says Colin Dudley, who spent 30 years honing his new product development skills at blue chip brands including Cadbury and United Biscuits before 'going solo' in late 2007. "It is essential to continue networking to identify new opportunities. Potential contacts from your existing network will only be of value in the first 12-18 months. It is therefore critical to develop new ones through networks and engage with agencies specialising in food and drink."