Peter Keegan, an Associate Director in our Interim practice, considers the pros and cons of hiring an Interim Manager and those of bringing on temporary leadership on a fixed term contract.
Interim Management v Fixed Term Contract
Most employers bring in senior or executive contingent or temporary labour to meet the demands of various projects which can last anywhere from 3 and 24 months. Key reasons for doing so may be funding and/or headcount restrictions that may prevail at the time, the term of the programme of work or the need to provisionally cover a substantive role. Employers may consider offering a day-rate or a fixed-term contract to bring on this short-term support. If interim management rates appear unjustifiable a cost to the business, a fixed-term contract may seem like the most commercially beneficial and risk-free option but that’s not always the case.
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