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What's The Process To Hire One ? Select an interim, preferably a qualified member of the Chartered Institute of Management Accountants. We can help with this one from the CIMA Members In Practice network.
Clarify the history and circumstances that lead to the decision to hire the interim and discuss this with the potential hire. The interim will quickly make his own opinions on what needs to be done after commencement but the boundaries of his remit need to be set by the business beforehand.
Agree a timescale, a rate and a start date.
What Happens Next ? The interim will need to present and have agreed a terms of engagement document This is to comply with institute codes of conduct, professional indemnity insurance conditions and money laundering legislation. You will need to provide proof of identity for the hiring company and its directors. For most businesses this is straightforward and can be done by presenting the company's last statutory accounts, a utility bill with the companies name and some personal proof of identity of the key decision maker within the company.
When the interim starts you should do all the things you would normally do for a new worker, apart from completing a payroll form!
The interim will need access to team members to gather information and form an opinion as to what's required. Sometimes this can be done quickly but often information is slowly given up to strangers in the team. The timescale will depend on how specific the assignment is. In drastic situations decisions may need to be made on the first day.
There should be regular briefings with the interims formulate an action plan and manage the progress of its implementation. On broadly based projects the monitoring and defining can become one process but their should be a clear completion objective. The best action plans are an amalgam of the interims ideas, the ideas of the team and those of the directors. A good interim will always credit the businesses staff for ideas they have presented and not claim them for themself. This way the team feel valued and are more receptive to change should it be required.
The last stage of the assignment should be to ensure that the knowledge gained is passed on to the succeeding management and/or team members. You've paid for it so you shouldn't lose it. |
