- How does interim management with Alium Partners work?
Since 2003, Alium Partners have provided the highest quality of interim management services. From the point that you are registered with us, you can expect a professional, friendly and personal recruitment service which will provide you not only with challenging and rewarding assignments, but also a valuable source of market information and contacts with which to develop your interim offering. At Alium Partners, all our consultants operate by the unique Alium Resourcing Model (ARM) whereby we assess each interim by their skills and experience, matching this to the client requirement exactly and understanding their strengths precisely. Whether it is a leader, transformer, operator or expert that is needed, this model allows us to find the right resource, fast. For more information on the ARM model, please visit the ARM page.
If you are being considered for an assignment by us, our experienced team of consultants, resourcers and recruitment support, will be with you along the entire journey from shortlist to start date and beyond. We will guide you through the interview and offer stage, ensuring that you understand your contract obligations, payment terms and limited company set up, mitigating your risk with confidence. To ensure the highest standards, we also operate the Alium Partners Quality Management Programme to ensure that both the client and the candidate are fully satisfied with the service provided.
- Do you operate a timesheet system for payment?
- Yes. In order to ensure that both our candidates and clients have a smooth, streamlined payment experience while you are on assignment with us, Alium Partners have invested in an online timesheet system. As per the terms and conditions of your agreement with us, you must submit a timesheet, either by email or hard copy on the last Business Day of each Calendar month. That timesheet must then be authorised by the client.
- Where should I pitch my day rate?
- The majority of interims operate on a daily rate basis and the subject is emotive for many. As a provider who only supply executive and board level interim roles, we find that our interims range between £500 and £1200 a day, depending on a range of factors. These include:
- Relevant function/sector experience
- Location of role
- Length of assignment
- Cashflow – what can you afford to operate on
- Previous charge rate
- Client budget
The most important thing to remember when deciding your daily rate for an assignment is to be flexible. It is not practical or realistic to say that you will only “get out of bed” for £800 a day. Take all the above factors in mind, as well as the economic climate and business challenge, and operate on a range rather than a fixed rate. This approach always garners better feedback and success.
- You mention that some people invoice through ‘umbrella’ companies. What are they exactly and can you recommend one?
- An umbrella company is a company that acts as an employer to agency contractors who work under a fixed term contract assignment, usually through a recruitment employment agency like Alium Partners. Again there are a number of providers of this service and advantages and disadvantages to using them. However, on the whole, professional interims operate through Limited Companies and this is our recommended method of operation.
- You say I should have Professional Indemnity Insurance, do you know of a good provider?
- When operating as a Limited Company, it is advised and a legal requirement that you also obtain Professional Indemnity Insurance. This will help protect professional advice and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit. There are numerous providers for this type of insurance and we always advise our interims to visit organisations such as the Institute of Interim Management, The Interim Hub or the Professional Contractors Group, all of whom will be able to provide you with further information on this requirement.
- How do I enhance my interim profile/gain my next assignment?
- Interim management is now an established industry in the UK, throughout Europe and increasingly internationally too. As a result, competition amongst interim managers and executives is very strong. With over 10,000 interims making up our community, our professionals know that it is important to keep themselves as visible as possible, especially when in-between assignments. As well as using your extensive network of professional contacts and attending relevant meetings and networking events, registering with a few accredited, high quality interim management providers, such as Alium Partners, will be absolutely crucial to increasing your exposure and gaining that next role. It is also essential in the digital age to ensure that your online profiles on platforms such as LinkedIn are up to date and accurate. Promoting yourself on platforms such as these act as handy tick boxes. Finally, a refreshed and tailored CV for every role is essential for success, ensuring that the client can see you understand their business and can provide a bespoke solution.
- How does the contract work? Do I go through Alium Partners or direct to client?
As a cornerstone of our contracts, all of our interims must operate through their own Limited Company. Your limited company will hold an agreement of services with Alium Partners Ltd – not directly with the client. Alium Partners holds a separate agreement with the Client for provision of interim services.
Please note, we will not be able to assist you if you operate as a sole trader.
- What information do I need to go on assignment via Alium Partners?
- At the start of each assignment Alium Partners will provide you with an interim checklist to ensure you are fully prepared to start your new role. As well as your personal details and contact information, we also require your Limited Company information and bank details in order to make appropriate payment. This checklist also requests two professional references within the last two years from a permanent employee of the business within which you have completed an assignment and to whom you have reported.
- What are your payment terms and expenses policy for interims?
For 100% clarity and transparency, Alium Partners operate a “pay when paid” system. In relation to our payment terms for interims, the interim must submit an authorised timesheet on the last business day of each month and then a corresponding invoice for that month on the first day of the next month. Once these documents have been received, Alium will then await payment from the Client before paying the interim.
In terms of expenses, it is usual for the client and interim to agree this directly, outside of the agreed daily rate. An interim should invoice the client directly in relation to their expenses. Any expenses incurred by interim candidates are to their cost, unless otherwise agreed by the client.
- What do your main terms and conditions cover for interims?
- As part of our standard terms of business with interims and as a sign of our mutual understanding, you must declare that you will abide by our terms and conditions of agreement. This document covers the following aspects:
- The contract itself – including any special terms and conditions that may apply and an appropriate assignment schedule
- The actual term of the agreement and the term of the assignment – not necessarily the same date. This also covers our policy around extensions or terminations/notice periods
- The details and obligations of the interim and interim company including the terms of reference and services to be supplied
- Our invoicing and timesheet procedure
- Payment terms of interim fees and also the expenses policy
- Our obligations to our interims under law including health & safety
- Your intellectual property rights while working with a client and confidentiality agreement
- Restrictions post assignment
- Use of appropriate computer equipment on assignment
Outline of the relationship between interim company and client company
- Liability, insurance policies and legal requirements upon the interim company, including data protection
- How many of your roles go permanent?
- Are companies becoming more insistent on previous sector experience?
Again, this is circumstantial. What our clients will look for primarily is the relevant skills, experience and knowledge, over and above whether this was gained as an interim or permanent position. However, it is important to be aware that some organisations will insist on interim experience and it is something we will look for upon registration.
- How do you stay in touch with registered candidates?
As well as presenting you with appropriate interim opportunities, as part of our candidate community you will receive monthly market updates and information from our team, so that you are kept informed of the latest news and trends. We will also invite you to exclusive events for your sector or function and give you access to our candidate portal. As such, it is very important that you keep us up to date with your availability, circumstances and latest CV so that we can match you against current roles.
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Want to know more about setting up as an interim manager? Speak to The Interim Hub
The Interim Hub is the largest resource on the web for the interim management community, providing advice, opinion, support and training for new and experienced interim managers.
Through the Interim Hub, you can set up your interim management business, find out how to source your first role and read news from across the interim management industry. The Interim Hub team are always on hand to advise you on any aspect of setting up and marketing your interim practice. Contact The Interim Hub today on 01737 234561 or visit www.interim-hub.com.
Contractor Accommodation Services
Contractor Accommodation Services (CAS) is a free accommodation service designed specifically to save you time and money, by sourcing, negotiating, booking and managing your accommodation whilst living away from home on an interim assignment.
Whether you need realistic indicative accommodation costs when considering an assignment or have your start date confirmed, you can benefit from their relationships with B&Bs, hotels and serviced apartments across the UK and Europe.
Contact CAS today on 0203 651 8227 or for further details, please see their brochure or visit www.wedotherest.com.
“I was introduced to the services provided by CAS on an assignment to London recently and could not be happier with the service which was always, quick professional and easy. The team were first class, attentive and focused on my needs making the whole process slick and stress free.” Ken McKie, Senior HR/Reward Director
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Our team of experts have over 30 years’ experience in the legal and accountancy professions to ensure we provide you with the best advice in areas such as IR35 by offering all limited company contractors a free IR35 review. We pride ourselves in keeping up to date with legislation and working with our advisors and HMRC to ensure we adapt to any changes in legislation quickly and effectively.
For a friendly, straightforward approach that delivers maximum returns for minimum effort, you can count on PayStream.
Call: 0800 197 6516
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