But there are also advantages for the interim managers themselves . . . making interim management the ideal solution for people with mid- to senior management experience looking for something a little different in their careers.

But why would these highly qualified, experienced managers want to become . . .even on a temporary basis . . .part of a company with which they have no connection or history?

Interim management providers InterIM Executives, part of the Merc Partners Group, sought these answers when they asked some of the managers on their panel why it was that they chose this particular route. One of the consistent responses to the question was that freedom and flexibility were important elements, particularly for those executives who had reached such a stage that job security was not a primary motivation.

One executive, who had held some very senior positions with major companies, described his new career as "infinitely better" than working in a permanent position, thanks to the degree of control that working as an interim manager gave him over his working life. Indeed, interim management can be a viable interim solution for the managers themselves, in that it allows them to keep their options open regarding future employment, while enabling them to maintain their lifestyle.

But, as Deirdre O'Shaughnessy of InterIM Executives explained, it is not just the work/life balance that is enhanced by working in an interim capacity.

"There is also the whole area of professional development, and executives, no matter how senior, can enhance their experience through immersing themselves in a range of different companies and sectors, " she said.

According to O'Shaughnessy, they can also do so without becoming embroiled in the culture of a workplace; and the feedback from interim managers backs her up.

"Being able to just do the job, without getting involved in personality cults or office politics, is a major attraction of working as an interim, " said one executive. "The greatest attraction, however, will always be the scope it provides for pursuing personal and career objectives simultaneously."

Thus, the diversity of roles and projects required of an interim manager can significantly enhance their working experience, whereas permanent positions can lead to staleness and a lack of engagement. For example, an executive brought in as an interim solution could find him or herself working on a range of issues which before would not have come under his or her remit (there is also real value for the client in bringing in someone who has experience of doing things quite differently).

Indeed, a particular benefit of working as an interim is that it allows the manager to hold up a mirror to the client company and to be honest with them regarding what might be improved.

Very few people in full time employment can do this without fear of upsetting those above them (and possibly damaging their standing within the company as a result).

Indeed, many interim managers will gain from the experience of acting in a mentoring capacity to the CEO and other managers, especially if these are the newer breed of younger senior executives who are open to learning from the experience of others. In this instance, the job of the interim manager is akin to the role filled by the independent director, but with the added benefit of hands-on, executive experience applied to analysing the situation and real time executive ability applied to improving it.