Interim Managers, Their Missions Revealed - Robert Half's Testimony
24 October 2008
Read by 1778 persons
Specializing in interim management recruitment for financial and accounting functions, Robert Half Management Resources is entrusted with numerous and diverse missions. However, what is an interim management mission? What does it involve? What is the role of the intervening manager? What are their responsibilities? Robert Half Management Resources attempts to answer these questions by using the concrete example of a mission it recently completed.
Context: Post-acquisition restructuring
As part of an acquisition, a major player in the media and entertainment industry called upon Robert Half Management Resources to carry out a post-acquisition restructuring.
Step 1: The company becomes aware of the problem it faces
Three months after its acquisition by a large group, a large company (revenue exceeding 200 million euros) recruited a new CFO who, upon arrival, discovered that the policies and procedures in place within the accounting department were insufficient (unexploited discount leverage for early payment; lack of precision in the bank reconciliation process; a monthly closing process spread over more than 20 days). Further problems were also present in human resources: overstaffing, under-utilization of existing teams, and a lack of experience among some employees.
Karine Doukhan, Manager at Robert Half Management Resources, explains: "Like other operations, acquisitions often highlight various dysfunctions, skills gaps, or absences of procedures... And it is in these types of situations that interim management becomes invaluable because, very quickly, it allows the company to conduct an audit, identify areas for improvement, define the necessary procedures, and implement them. Thus, the company can achieve its objectives. It's a challenging exercise, of course, but interim managers are experts!"
Step 2: The interim manager defines the scope of their mission
Under the direction of the new CFO and after an analysis of the situation, the interim manager delegated by Robert Half Management Resources articulated their mission into two distinct phases.
Phase 1: Observations and recommendations
They identify the procedures in place, distinguishing between those that are effective and those that are deficient. They understand the areas where no formal procedures have been deployed and present their recommendations to provide a solution to each of the identified problems.
Phase 2: Implementation
The manager implements the measures they have determined:
? The creation of a best practices guide for each business process,
? More effective use of the existing Great Plains e-Enterprise accounting system, particularly by deploying unused modules,
? The overhaul of the personnel management policy with the training of some employees in best practices,
? The assignment of some employees to new roles or the elimination of surplus positions,
? The creation of a formal guide of policies and procedures, also accessible online for simple and quick consultation using hyperlinks.
Step 3: Mission review
Thanks to their intervention, the interim manager enabled this company to:
§ Achieve immediate savings by exploiting the discount leverage for early payment granted by suppliers;
§ Reduce the payroll by streamlining the Accounts Payable department;
§ Reduce the payroll by consolidating bank reconciliation and accounts payable processes;
§ Have an online calendar and guide of policies and procedures to follow, paving the way for better support for future permanent or temporary employees and eliminating any potential errors within the "new" Accounting Department.
§ Clarify and consolidate functions within the Purchasing Department by 25%, enabling the achievement of greater savings.
Karine Doukhan, Manager at Robert Half Management Resources, comments: "Interim management appeared recently in France but is developing very rapidly because it allows companies to access expertise and professionals they do not have internally and which are essential for following their development strategy. Specialization, experience, neutrality, confidentiality, autonomy, adaptability... are all assets that interim managers possess and which allow them to meet the needs of companies. Their approach is methodical and extremely rigorous and always takes place in several phases to guarantee the success of their mission."
Posted online February 22, 2008
Indice RH
Context: Post-acquisition restructuring
As part of an acquisition, a major player in the media and entertainment industry called upon Robert Half Management Resources to carry out a post-acquisition restructuring.
Step 1: The company becomes aware of the problem it faces
Three months after its acquisition by a large group, a large company (revenue exceeding 200 million euros) recruited a new CFO who, upon arrival, discovered that the policies and procedures in place within the accounting department were insufficient (unexploited discount leverage for early payment; lack of precision in the bank reconciliation process; a monthly closing process spread over more than 20 days). Further problems were also present in human resources: overstaffing, under-utilization of existing teams, and a lack of experience among some employees.
Karine Doukhan, Manager at Robert Half Management Resources, explains: "Like other operations, acquisitions often highlight various dysfunctions, skills gaps, or absences of procedures... And it is in these types of situations that interim management becomes invaluable because, very quickly, it allows the company to conduct an audit, identify areas for improvement, define the necessary procedures, and implement them. Thus, the company can achieve its objectives. It's a challenging exercise, of course, but interim managers are experts!"
Step 2: The interim manager defines the scope of their mission
Under the direction of the new CFO and after an analysis of the situation, the interim manager delegated by Robert Half Management Resources articulated their mission into two distinct phases.
Phase 1: Observations and recommendations
They identify the procedures in place, distinguishing between those that are effective and those that are deficient. They understand the areas where no formal procedures have been deployed and present their recommendations to provide a solution to each of the identified problems.
Phase 2: Implementation
The manager implements the measures they have determined:
? The creation of a best practices guide for each business process,
? More effective use of the existing Great Plains e-Enterprise accounting system, particularly by deploying unused modules,
? The overhaul of the personnel management policy with the training of some employees in best practices,
? The assignment of some employees to new roles or the elimination of surplus positions,
? The creation of a formal guide of policies and procedures, also accessible online for simple and quick consultation using hyperlinks.
Step 3: Mission review
Thanks to their intervention, the interim manager enabled this company to:
§ Achieve immediate savings by exploiting the discount leverage for early payment granted by suppliers;
§ Reduce the payroll by streamlining the Accounts Payable department;
§ Reduce the payroll by consolidating bank reconciliation and accounts payable processes;
§ Have an online calendar and guide of policies and procedures to follow, paving the way for better support for future permanent or temporary employees and eliminating any potential errors within the "new" Accounting Department.
§ Clarify and consolidate functions within the Purchasing Department by 25%, enabling the achievement of greater savings.
Karine Doukhan, Manager at Robert Half Management Resources, comments: "Interim management appeared recently in France but is developing very rapidly because it allows companies to access expertise and professionals they do not have internally and which are essential for following their development strategy. Specialization, experience, neutrality, confidentiality, autonomy, adaptability... are all assets that interim managers possess and which allow them to meet the needs of companies. Their approach is methodical and extremely rigorous and always takes place in several phases to guarantee the success of their mission."
Posted online February 22, 2008
Indice RH
