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Wednesday, January 23, 2013

Interim managers hired to bring about change, survey reveals

A growing number of companies are hiring interim managers to spearhead business projects despite a flat economy.

That was one of a number of findings in the latest snapshot survey by interim management provider Russam GMS, which revealed that there was a growth in the number of appointments in the interim management market within the last year.

The number one interim job discipline was change management and transformation - making up 23 per cent of all assignments. Finance specialists were also in demand undertaking 17 per cent of all assignments, with general managers taking on 14 per cent of all assignments.

Interestingly, the research also highlighted that a new professional discipline of change and transformation specialists emerged, with 17 per cent of those questioned describing themselves as change managers. This figure has risen to 20 per cent - the highest category of interims on assignment, overtaking general management and reflecting more interims seeing themselves as change and transformation specialists rather than general managers.

Discussing the findings, Charles Russam, chairman of Russam GMS, said: "Increasingly, businesses are using interims more strategically - to lead change management and transformation programmes - particularly in the finance and banking sectors to undertake special projects or implement new strategies. Interims offer skills and experience that tends not to exist within companies and their immediacy and affordability is very appealing."

Manufacturing and engineering continue to be busy sectors for interims with 11 per cent of assignments, closely followed by financial services (10 per cent) and then both the charity sector and the NHS, each accounting for seven per cent of interims assignments.

"Interim management is one part of the UK economy that values the skills and experience of older executives who kept their skills and knowledge sharp, up to date and relevant.  

"In this context, experience is an instinct about what works best in changing situations and which can contribute hugely to ambitious and entrepreneurial businesses and help them grow and develop," Russam concluded.


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