What does the word interim mean?

For us who work with interim recruitments on a daily basis, the word is well known, but quite a few people we meet do not really know what the word interim means.

 Etymology – What does the word interim mean?

The word interim comes from Latin and means roughly during/between the time where inter means between. The Cambridge Dictionary describes the word as something temporary that is meant to be used until something permanent exists. The Swedish Academy's Dictionary describes interim as intermediate time, transition time, or provisorium. The word has been documented in the Swedish language since the 17th century.

 When is the word interim used?

Today, the word interim is usually used when it comes to people taking on time-limited job assignments, so-called Interim Managers, and Interim Management. An interim assignment is, for example, when an experienced leader enters a company to lead the organization through a change or to lead and manage a critical project. It is also used in the field of law when it comes to, for example, an interim judgment. 

 Steve Jobs - iCEO

Steve Jobs, co-founder of Apple together with Steve Wozniak in 1976, was fired from the company in 1985, but returned as interim CEO in 1997. Jobs called himself an iCEO, which is not to be confused with the iPhone or iPad that refers to the word internet. What he meant was interim CEO. This was meant to be a time-limited solution for building up Pixar, however, it became a permanent role in 2000. Jobs turned the company into one of the largest in the world during his time as an iCEO.

 About Interim Management

An Interim Manager is a person with extensive experience in leadership and in driving change in a complex environment. He/she has chosen to step down from a permanent role to take on temporary assignments. An interim assignment is typically between 6-12 months and could be in a line manager role such as CEO or CFO, a project management role, or as a functional specialist within, for example, HR. Another popular word for interim assignments is “gig”, which mostly refers to roles such as graphic designers, web developers, etc.

Interim Management gives a business access to a highly experienced leader when their own resources are insufficient in the event of a challenge, crisis, or vacancy.

Examples of typical Interim Management assignments:

• A CFO has resigned and there is no replacement in place. It engages an interim CFO to bridge the gap while recruiting a permanent CFO. When the interim is overqualified, he or she can review processes and structures during his assignment and hand over a well-functioning business to the new CFO.  
• A subsidiary is doing poorly and showing red numbers. You don't know where the problem lies. The current CEO is not working and has been allowed to go on the day. An interim CEO is engaged to analyze the company and provide clear and transparent information to the Board of Directors and run a turnaround.

Do you want to know more about Interim Management? Get in touch here!