Growth in the Interim market set to continue

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.

Predicted growth in International Interim Assignments

As we go through 2014, we are experiencing increasing demand for clients requiring short term flexible resource to help both in the UK and internationally.  As a member firm of the IMA (Interim Management Association) we see the latest figures purport that 89% of all UK Interim Management providers believe international assignments will increase in 2015.

Business challenges are global and there is a comparable need internationally for help with transformation, projects, operations, strategic business development, business improvement, restructuring and turnaround. As in the UK, there is increasing demand for specialist skills for short term, business critical needs and it’s not always possible to find this resource on a local basis.  

The interim market represents a flexible, short term solution for organisations that lack the capacity or internal capability to drive specific projects forward and whilst they can source a strong fit culturally on a local basis, the ability to tap into an existing proven talent resource is becoming increasingly valuable with our overseas and our UK based clients with international operations.  

International assignments do tend to be shorter in duration than UK assignments but we find this works well for those interim's executives working overseas.

Macallam has strong experience of working with overseas clients and candidates around Europe and further afield and whilst it represents a smaller percentage of our placements we concur with the IMA’s findings and look forward to helping our clients with international operations shape their business.

For more information please contact Steven Wynne on 01423 704153.

The good news is set to continue

The latest Ipsos MORI survey completed by IMA (Interim Management Association) members for Q2 has seen a further increase for Interim Managers by 4%, illustrating that whilst confidence amongst business continues to strengthen there is still caution in recruiting permanent staff.

A particular field of growth for Interim Managers has been within Programme Management and Project Management roles and this has certainly been reflected by our client demand of late. Figures report that 66% of all Interim Managers on assignment are engaged within this capacity compared with 49% in Q1.

Business services are also a prominent sector for Interim managers illustrating the ongoing importance of the flexible resourcing options during business growth stage.  Companies also remain focused on lean management and reducing head count as managing costs is still an important objective and therefore value, delivery and ROI are important success factors when engaging an Interim manager.

Statistics would suggest that experienced Interim managers are to remain an important resourcing solution for some time to come with assignments in progress in Q2 remaining high.

For more information please contact Steven Wynne on 01423 704153.

The IMA launches Approved Campaign

The Interim Management Association (IMA) is in 25th anniversary year and to mark this the IMA is launching the IMA Approved Campaign, to promote a strict and regularly audited code of practice to which all IMA members will adhere.

This badge of quality is underpinned by a 12-point checklist that ensures IMA members select and appoint only the best interim managers, guaranteeing that clients are provided with sound advice on the use of interim management. This is not just a tick box; it is governed by a strict code of practice and audited on a yearly basis. IMA Approved not only improves services to clients but represents the vital next stage in the development of the industry, which we believe will grow to approximately £2bn by 2015 taking into account the significant international growth we are now experiencing.

The launch of this is of paramount importance to the growth of the interim market in the continuing challenging economic climate.  Organisations in both private and public sectors must feel confident they have partnered with the right supplier to provide the right solution for their businesses and ensure that quality, speed, added value and delivery result in a return on investment for our clients. Macallam Interim is ‘IMA Approved’ and has met the very strict criteria and continues to implement the checklist.

IMA Approved Checklist:

• Ensure your interim management provider does the following:
• Only places genuine self-employed interim managers who trade through a limited company and have adequate professional indemnity insurance cover in place.
• Has clear processes in place, which establish an understanding of the client’s organisation and requirements, and provides objective professional advice on the use of interim management.
• Provides job briefs, which result in a written job description and project plan that clearly sets out the description and scope of services to be provided by the executive.
• Offers a comprehensive search for appropriately qualified interim managers.
• Undertakes a thorough evaluation of the candidates, including personal and structured interviews, and the formal taking of references of the individual’s suitability and qualifications for the assignment.
• Only introduces candidates who have been briefed on the specific client opportunity, and who have been referenced and met prior to placement.
• Provides ongoing support to the client and to the interim manager when the assignment has commenced.
• Provides the necessary checks on the Criminal Records Bureau, Protection of Vulnerable Adults list and the Protection of Children Act.
• Demonstrates a true commitment to equality and diversity.
• Has adequate insurance protection in place to cover professional indemnity, employers liability and public liability. The IMA also has a wrapper scheme in place.
• Has a robust complaints handling process.
• Provides best practice training and resourcing for interim consultants.

By Steven Wynne



Rise in the use of interim managers

The latest results from the IMA (Interim Management Association) Ipsos MORI market audit (compiled by all IMA members) for Q2 of 2011 has found the number of Interims engaged by businesses has increased marginally by 2% from Q1 2011. However, the number of executives actually engaged on assignment has decreased by 12% from Q1 as has the number of new assignments started in the quarter but only by 3%.

This is not so surprising as the month of April was challenging given the amount of people taking advantage of the extended holidays.   The length of assignment has remained much the same as Q1 and remains 28% higher than Q1 and Q2 of 2010.  The number of female executive interims currently on assignment has increased 2% from Q1.

The private sector remains active with 61% of completed assignments in Q2 2011 which is up from 57% in Q1.  The increase in the private sector is encouraging as figures have now returned back to those seen in Q3 2008 when the recession took effect and indicates the slight decrease in numbers is due to the decline in public sector assignments.  

Interestingly, the highest number of assignments is Programme / Project management but this could cover a multitude of sins.  ‘Gap management’ also features quite highly and I suspect some ambiguous reasons given for the need of the executive interim in the first place and feel sure the underlying need was likely to be more business critical.

It will be interesting to see how these trends develop but from our prospective, we remain busy helping clients with Change programmes, Restructuring, Turnaround, Business improvement and Finance related assignments.

By Steven Wynne

Demand for Interim Managers on the increase

Although still in difficult trading conditions and much uncertainly still prevalent in many sectors, the demand for Executive Interim Managers has seen an increase in Q1 2011.

The latest results from the IMA (Interim Management Association) Ipsos MORI market audit (compiled by all IMA members) has found the number of Interims engaged by businesses has increased. 
The needs have been for reasons cited such as special projects or for change programmes to facilitate businesses that are going through change or transformation.

The report highlights a 29% increase in the number of interims utilised for special projects, 20% increase in finance assignments, 32% increase in programme /project management and 21% increase for Business Improvement. 

The number of new assignments saw an increase of 13% which is the highest recorded level since Q2 of 2010. Private sector usage is higher than public sector as you would expect during 2010 compared to an almost even split historically.

Businesses are turning to Executive Interim Managers to help drive change, projects and operational efficiencies.  They can bring in an experienced Executive to quickly deliver the agreed objectives and to drive change programmes without the distractions of ‘business as usual’ thus providing a good return on investment.

By Steven Wynne

Companies turn to interim managers in an upturn

As business emerges from the recession demand for interim executives is continuing to grow according to Macallam Interim.

A recent report by the Interim Management Association (IMA) shows that more businesses are seeking interim managers as a "valuable resource" for companies looking to hire skilled employees to aid their recovery during the much-vaunted upturn.

During the past 12 months many companies have been panicked into letting key staff go as they move to clamp down on costs. Now they are seeking new talent to lead them into growth.

The skills required to manage a business in a down turn are very different from those required in an upturn. Managing a business out of recession and setting in place the structure to ensure future continued growth requires a certain set of skills.
According to the IMA, which represents the UK’s interim management providers, turnaround specialists have been in particular demand since the financial crisis, with businesses calling on such experts to help salvage key projects left in disarray by the downturn.

Good interim managers normally have a few grey hairs and battle scars. They are very experienced and have been through the economic cycle a few times and, as a result, they are able to hit the ground running when they join an organisation and will often deliver tangible results within a very short time.

The latest findings from an Ipsos MORI survey conducted for IMA shows that the use of interim managers increased by nine per cent over the first two quarters of 2010. Covering the period between April to June this year, it also reveals that the proportion of private sector interim assignments has increased to more than half.

By Steven Wynne