Living the Interim Life!

A career in interim leadership is something that many colleagues in the FE and Skills sector consider at some point. In this article, FE Associates Managing Director Matt Atkinson provides those considering a move into the interim world with some helpful insights.

Life as an interim leader and manager is varied, challenging and rewarding and we are regularly approached by FE and Skills leaders who are considering moving into the interim world. In addition to providing advice and guidance to those considering an interim career, we also present colleagues with a range of issues to consider, helping them in their decision-making process.

What you do and what you don’t do?

When I was considering an exit from my last role as a Principal and CEO, one of the best pieces of advice I received was from a former Principal/CEO, who had a successful self-employed career. She said to me, “Be clear about what you do and what you don’t do”.  A somewhat unusual comment, but essentially she was saying that in the early stages of self-employment, there is a tendency for interim and consultants to take on whatever comes their way and claim that they can do it all.  Of course, we all need to pay the bills. However, the point was more about identifying what you are good at, utilising your signature skills, being fulfilled and having a proven track record of success. After all, we all want to derive meaning from our work, we want to be fulfilled, and let’s be honest, none of us is good at everything.

Self-employment versus employment

Life as a self-employed interim consultant can sometimes be nerve-wracking! Sometimes, the phone rings regularly with offers of assignments, but at other times, it doesn’t ring at all. For those who are dependent on a regular income, the self-employed interim route may not provide the financial security they require. This is why it is quite common for people to enter the interim world towards the end of their employed careers, when the mortgage has been paid off or when the kids are grown. I always ask people whether they are clear on how much money they need to make each month to have a comfortable existence. This figure should serve as a threshold, and you should use it as a starting point.

As a self-employed interim, you will also need to navigate the complexities of the IR35 tax and national insurance regulations that affect self-employed or off-payroll workers.

At FE Associates, we offer an alternative approach to an interim career, directly employing people and placing them in our client organisations. The upside to this is that a guaranteed annual salary is provided along with benefits that ensure that our consultants are never out of pocket for travel and accommodation. Remember, as a self-employed consultant, you are likely to face initial cash flow pressures to cover accommodation and travel expenses, which are typically reimbursed through monthly invoicing. Whilst being an FEA-employed consultant may not be as financially rewarding as being self-employed, it does provide financial security and de-risks the potential for downtime or quiet periods.

Location, Location, Location

Requests for interim leaders and managers can come from any college or provider located anywhere in the country. Some people are happy to work in any part of the country, while others are only prepared to work in a more limited geography.  Several key considerations will inform your thinking on this matter. Do you want to be away from home? Can you be away from home? Are you prepared to spend a considerable amount of time travelling. How would being away from home impact your lifestyle and wellbeing and the needs of others?

Do you like Premier Inns? (Other brands are available)

If you are happy to be sent anywhere in the country it is essential to understand the lifestyle implications of this decision. The reality can be that you leave home early on a Monday morning and return on a Friday. Another fact is that because your client organisation is likely to cover your expenses, you will only be provided with a limited budget for accommodation. A limited budget can mean a budget hotel.

I can remember being away for a whole week and staying in three different Premier Inns. Because all the rooms looked the same, I had to remind myself each morning where I was in the country.

Working away from home is a lifestyle choice that doesn’t suit everyone, so it needs careful thought when considering an interim career. Quite often, interims tend to work long hours to avoid being stuck in a hotel room. Hotel food is generally poor and often unhealthy, so it’s essential to consider how you maintain your health and wellbeing while working away.

But goodness me, you certainly appreciate your own bed when you get home!

Be prepared to hit the ground running

The organisations that engage interim leaders have a reasonable and realistic expectation that the interim leader can hit the ground running from the outset. In reality, there is no time for an induction or the pleasantries usually afforded to new staff members.  You will be brought in to have an immediate and maximum impact, and you will need to utilise your expertise and leadership skills to make a quick diagnosis of the issues and implement immediate plans for improvement or development. You will be expected to have the answers and solutions, and most importantly, you will need to have the ability to quickly build rapport with the people you will be working with.

It can take time

Many people have very long and rewarding careers as interim leaders, but when you are in the early stages, it can take time to secure placements, particularly because client organisations tend to favour those with a breadth of interim experiences. However, as long as you do an excellent job on your early assignments and secure strong testimonials, then you soon establish yourself as a trusted and well-regarded interim leader.

To find out more about becoming an employed or self-employed interim leader with FE Associates, contact our Operations Director at Judith.Richardson@fea.co.uk