Brexit uncertainty has caused many SMEs to delay important projects or even stop crucial recruitment activities. During these difficult times, tapping into a pool of experienced resource could provide a solution to this problem. Many SMEs have not considered, or have gone so far as to dismiss, the use of interim managers as they are under the misapprehension that they are just too expensive.
However, in reality, the cost of engaging an interim manager for a specific project or management assignment could be a very cost-effective solution and give the business some real impetus at a crucial time. Often the impact of doing nothing or overloading existing staff results in lost business opportunity, disgruntled staff or, worse still, key people leaving.
We are no different at Jonathan Lee Recruitment. We have taken our own advice and have made the most of the skills of interim managers with excellent, cost effective results. We have used interim solutions to cover a number of tasks including training, HR, project management and IT and found the experience very positive.
One of the main concerns for businesses is the cost; understanding that an interim manager’s day rate costs no more than a comparable permanent hire once the additional employment costs and benefits are accounted for. Experience shows us that the actual cost of direct employment adds around two thirds on top of basic pay. For example, in the case of an executive earning £100,000 per annum, the employer’s total costs will include national insurance, car allowance, a bonus, medical costs, pension and other benefits, as well as any unplanned costs including sickness, jury service and training.
Of course, the secret to getting value for money and achieving the specific assignment objectives is selecting the right interim manager and engaging them based on their knowledge, skills, experience and references.
The real advantage of an interim is their ability to hit the ground running with almost immediate effect. In fact, paying the right rate for the right individual can mean that projects are delivered in shorter time frames and more efficiently. In many cases the return on investment far exceeds the benefits initially anticipated, and, having completed the initial assignment, the interim manager is asked to pick up another project. Professional interim managers become trusted advisors and are very target and objective driven. On exiting the business, they will leave a positive lasting legacy often helping to find their permanent replacement if required.
JONATHAN LEE INTERIM MANAGEMENT
Jonathan Lee Interim Management successfully places interim managers across a broad range of industrial sectors and management disciplines, helping clients fill critical skills gaps with experienced managers. We take the time to meet our interim managers and can recommend suitable candidates that we have placed previously at short notice. We offer a full payroll service and legal employment framework agreement for our interim service ensuring that your interim manager is legally compliant with all the necessary insurances.