ROI of interim assignments
So you’ve selected, interviewed and hired an interim manager. How do you now measure whether the assignment was a success? Mike Measures of Interimconnect has the answer in the fourth instalment of his blog series for HRBullets, which aims to give guidance to clients who are hiring an interim manager for the first time.
Mike explains that it is perfectly possible to measure the success of an interim project by simply calculating the percentage ROI. However, real results will only be achieved with careful forward planning.
"The key to a successful outcome to an interim assignment is that the expected rate of return should be estimated before engaging the interim manager to see whether the project justifies the investment. During the assignment, actual outcomes can be measured and compared with the original estimate."
Mike goes on to use real life examples from his own Interimconnect introductions to illustrate how clients would calculate the ROI of a specific interim assignment. For example, an interim was brought into to outsource one of the functions of a city-based financial services company, and the ROI was 350%.
To read the full article visit HRBullets.co.uk.