Now is the time to demystify Interim Management

In recent years, Interim Management has risen in importance within the field of staff resourcing, but despite its growing importance there remains a number of misconceptions about its meaning and its implications.



According to Moin Din, Resourcing Manager at Chiltern International, demystifying Interim Management is essential for companies trying to achieve success - particularly for those operating in the biopharmaceutical sector.

ìDeveloping new medicines is a technological challenge, but companies can only operate successfully if they have the right type of people,î explains Moin Din. ìThe presence of individuals who can effectively and intelligently communicate ideas and results will help to influence the overall performance and success of a company in meeting its objectives.î

Interim Management is a concept bringing together elements of consulting and contracting. Yet unlike a consultant, an Interim Manager is a person who actually implements a proposed strategy. The role requires experienced people who are able to embark on the necessary tasks right from the outset of employment.

ìAlthough Interim Management has been applied in other industries, it is a relatively new concept to the pharmaceutical industry,î explained Moin Din. ìHowever, the pressures pharmaceutical companies face in the current operating environment has led to them requiring flexible staffing solutions. As there is a shortage of good clinical staff in certain fields, companies have begun to look at interim solutions.î

The rising costs and risks of drug development combined with the lengthy drug development timescales and increasing competition have persuaded many companies to look at merger and acquisition strategies. One of the big problems for such companies is attempting to reduce any duplication of activities. Unfortunately this usually necessitates laying off staff and so companies end up losing talented individuals as they strive to meet short-term targets such as cost savings. In the longer-term, the loss of these individuals will be to the detriment of the company as the smooth running of projects depends on people as much as it does on finance and technology.

ìInterim Management can help fill the skills gap as when these individuals are placed with companies they can effectively hit the ground running,î explains Moin Din. ìThe concept is being applied to all major job functions and so, with the right advice, every company has a chance to benefit from using this approach.î