Know The Difference Between Interim Management and Management Consulting
Organizations are operating in a fast-paced dynamic environment. There would be unprecedented times, frequent changes, and undesirable results – in short, there would be situations where would be at a loss for strategies. It can be anything – launching a new project, restricting the organization, starting new factories, expanding to a new geography, internal conflicts, and so on. There would be situations when one would feel overwhelmed and look for external help.
Do you choose management consulting services or interim management services? This is a common question because from a broader lens both look similar but when you dig deeper, you will find the differences. It is essential to be aware of the differences between these so that you can choose the best path to resolve your crisis. Let’s start with a common question-
Interim management services or Management consulting?
Can you use these terms interchangeably? No, all interim managers might qualify as consultants. However, management consultants are not interim managers. Before we proceed, let us also bust a myth – interim management is a profession by choice, not an alternative between two jobs taken by force. So, both these resources will help you tactically and strategically, come with a good analytical mindset, and would give an independent view of the crisis. Now, if you take a closer look, you will know the differences.
An interim manager is typically brought in to fill a vacancy or to provide support during a transitional period. They are usually hired for a specific project or duration of time and their responsibilities are outlined in a contract. Interim managers are often paid a salary, but they are also given a budget for expenses.
A consultant, on the other hand, is a hired expert who provides advice to a business. They are not usually responsible for day-to-day operations, but rather for developing a plan or strategy. A consultant is typically paid an hourly rate or a flat fee for their services.
It would be correct to mention here that interim management services also entail the execution, seeing the plan turn into action, and how it benefits the entire organization. Interim managers work very closely with your organization and in short – your organization’s success is their own success.
This brings us to the next difference – an interim manager has no intention or scope of cross-selling or up-selling services. A management consultant would always find scope to sell more services and bring additional revenue for the company. This does not however put a management consultant in a bad light. It just goes to show how each individual is different and that certain roles demand certain deliverables. Finally, an interim manager will be absolutely unbiased and neutral while a management consultant can be influenced by the processes and practices of the firm.
Making the decision between an interim management approach and hiring a management consultant can be difficult. So, how do you choose? We provide executive interim management services to help you come out of critical situations and witness positive business results!
For more information, please call Peter Gleeson, Ian Stacy or Peter Tanner (03) 9190 8904 or visit tannermenzies.net.au