We have seen a strong start to 2015 with increased numbers of mandates for assignments for interim executives to help deliver transformation plans.
This growth is reinforced by the latest Ipsos MORI survey published by the IMA (Interim Management Association) which reports that the average number of enquiries per member is up by almost a quarter (23%) for Q4 compared with the same period in 2013.
A particular field of growth has been the private sector rising from 51% in Q3 to 67% in Q4. Finance remains a strong area even though the number of assignments has dropped from 46% in Q3 to 39% in Q4. Financial institutions need to respond to regulatory changes imposed by the UK government or European Parliament and there will always be an on-going need for skilled managers to work on short-term projects to deliver change.
Other reported trends are the increased use of interims within the life sciences industry following an increased number of mergers and acquisitions taking place. Senior interims are being placed to offer expertise and support challenged management teams.
Whilst the pending UK election undoubtedly poses risks and decisions on capital expenditure and employment are likely to become more susceptible to delay; a changing economy still drives the need for the use of interim managers and this is a trend set to continue.
Statistics would suggest that experienced Interim managers are to remain an important resource for some time to come.