This is an honest guide based on my 20 years experience supporting organisations with Interim Managers. I do not supply organisations with consultancy services but I have listed some great Management Consultancies below. After reading this it should be easier to compare a Management Consultant with an Experienced Interim Manager.
Who can help increase company performance?
Businesses looking to increase their performance generally have two options: hiring a management consultancy or an experienced interim manager. Both offer unique benefits and should be selected based on specific business needs and goals.
Management consultancies provide a comprehensive approach to improving performance. They analyse a business’s current operations, identify areas for improvement, and provide recommendations for change. This can include organisational restructure, processes improvement, strategy, and technology enabled transformation. Management consultancies typically work with a company for a longer period of time, often several months, to ensure that the proposed changes are implemented and that the desired business outcomes are achieved.
On the other hand, an experienced interim manager provides a quick solution for businesses facing a specific challenge or gap in leadership. They step in to manage a specific programme or business area and bring their expertise to the role. Interim managers have a proven track record and bring a fresh perspective to the business, making them ideal for businesses looking to implement quick changes or solve immediate problems.
Another key difference is the level of control and influence the two options have over a business. Management consultancies typically work with Executives of the business to implement changes, but do not have direct control over the day-to-day operations. Interim managers, on the other hand, are given control and authority over the business area or programme they are managing. This can lead to quicker decision-making, more immediate results and better adoption from the employees of the business.
How does the cost of an Interim Manager compare with the cost of a Management Consultant?
In terms of cost, management consultancies tend to be more expensive due to the comprehensive approach they offer and the length of time they work with a business. Interim managers are often more cost-effective, as they are brought in for a specific purpose and for a shorter period of time.
Conclusion
Whether a business should hire a management consultancy or an experienced interim manager depends on their specific needs and goals. Management consultancies are ideal for businesses looking for a comprehensive approach to improving performance, while interim managers are better suited for businesses facing a specific challenge or gap in leadership. Both options offer unique benefits and should be selected based on the individual needs of the business.
As Williams Bain only provide Experienced Interim Managers. If after reading this you would prefer a management consultant, here are some of the UK’s best Management consultancies;
Alvarez & Marsal https://www.alvarezandmarsal.com/