Questions & Answers
Here we list questions we have been asked, and our answers, in the past from companies, organisations and interim professionals. Do reach out to us if you have a question you cannot find the answer to below!
At what stage is an executive interim the best solution?
When you quickly need to access a senior manager or specialist within a specific area. In situations where recruiting takes too long, and/or classic management consulting does not give you the hands-on power to execute which you require. It could concern anything from the need to fill a critical gap, realign a business, in connection with digital transformation, expansion, expansion overseas, divesting a company etc. The basic requirement is to get assistance from one or more action-oriented leaders who get things done from an operational point of view.
Does the Nordic Interim selection process differ from that of other suppliers?
The short answer is yes. We work along the conviction that our clients quickly want to find a solution and – at times even more importantly – that they do not want to sit through endless interviews or sift through stacks of CVs in order to identify the right skill set and person. We are not contempt with merely matching suitable and available candidates, but instead work intensely for about two weeks, handpicking people from within our network, calling to get leads to new competent interim professionals, and leveraging our relationships with other search companies in the Nordic Countries. In such a way we are able to, within c. 1-2 weeks, suggest 2-3 persons with exactly the relevant background for the assignment.
What is the difference between a management consultant and an interim professional?
Executive Interim Management has one foot in the headhunting industry and the other foot in management consulting. We have listed the main differences below:
|Executive Interim Professional||Management Consultant|
|Principal Focus||To execute and drive change to achieve operating results||Analysis, advice, transfer of best practice, solution design, and/or driving programme/project management|
|Skills Base||Basing execution primarily upon long-standing operating experience, leadership and industry/functional experience. In certain cases with some years of prior work as a consultant||Basing execution primarily upon methods, processes and analysis combined with industrial/ functional best practice collected from the consulting company.|
|Execution Mode||Acts as a part of your organisation, often with budget and/or responsibility for P/L||Acts outside the organisational framework (often in programme/ project form)|
|Age||40+ depending on the industry and functional background||Often 25-35 years old|
|Loyalty||Completely loyal to you as a client and to your goals. Reports to you like an employee. No incentive to sell you more Interim Managers||Loyal to you as a client but also to his/her consulting company|
Which industries and roles do you cover through your network?
We cover both the private and public sector. Our main focus is to take on challenges connected with managerial roles, or major initiatives/projects owned by corporate management. With time we have also developed networks within particular specialties, and with persons who have an ex-consulting profile with long-standing experience from driving large complex programmes/projects.
Do you also take on international assignments?
Yes. Together with the leading and major interim suppliers in Germany, France and the US we have founded Globalise, with member companies in 15 countries. C. 10% of our assignments are international in character and their numbers increase year by year. It could be Nordic companies and organisations who need help globally, or international companies who are in need of assistance in the Nordic Countries.
How do you handle confidentiality?
Confidentiality is a point of of honour, towards both our clients and interim professionals. In the beginning of each co-operation we agree on a desired level of confidentiality. We often chose a level of confidentiality which likely is higher than necessary. We have learnt that with time this is beneficial to all parties. Unless the assignment is of public nature, we sign NDAs (Non-Disclosure Agreements) with everyone we have spoken to.
What is the cost of an interim solution?
The cost of an executive interim professional through Nordic Interim depends entirely on the role, situation as well as the extent and length of the assignment. As an indication, it is considerably cheaper compared to engaging a management consultant. Together, we talk through your challenge you are facing and calculate an approximate range when it comes to a fee level which will enable us to attract and engage the right person of appropriate calibre.
What background checks do you perform when it comes to your interim professionals?
We conduct extensive reference checks with regards to everyone who works with us. Those who have worked with us before, we also know closely based on their achievements for our clients in the past. Furthermore, all of our interim professionals on executive level authorise us to collect an excerpt from the public record of prior convictions. If our clients so wish we can perform a full background check of an interim professional at cost price. For these services we collaborate with one of the leading companies in the Nordic countries in the field.
What assurances and guarantees does Nordic Interim extend?
Should an assignment not develop according to plan (something that happens very rarely) we have termination clauses which we honour. These are specific to the assignment, but the lion share has a one-month notice period. Naturally, Nordic Interim also has professional indemnity insurance covering all our consultants. We also ask our executive consultants to give us authority to collect an excerpt from the public record of prior convictions. Upon request, we can also perform a full background check of an Interim Professional at cost price. For these services we collaborate with one of the leading companies in the Nordic countries in the field.
How can I become an interim professional?
Should you wish to become an executive interim professional and be part of our network, we suggest you contact us and we can tell you more about this. When you work with us your are employed by your own company (we strongly recommend that this is a limited liability company) and issue invoices from this company. You will also have to sign up for a professional indemnity insurance.
Could I hire an interim professional after the assignment has been completed?
We have stipulated transfer fees in our contracts for the case of direct employment of an interim professional. We do understand that it could be a win/win between our clients and interim professionals.
What is the length of an interim assignment?
Most of our assignments are directly connected to major initiatives undertaken by our clients. This results in our assignments normally lasting longer than what we understand constitutes the industry average. Often the assignments last 9-12 months, in certain cases considerably longer.