IIM Interim Management Providers Survey 2016 and update

The Institute of Interim Managers (IIM) interim management providers survey is live. 

The survey closes 8th June with full results published on 7th July although this year, parts of the results are immediately available.    Here’s the link;

https://www.surveymonkey.co.uk/r/iim2016

Use your vote and have your say!

As you are probably already aware, we have updated our website and have improved the registration process with secure log in.  It would be worth visiting the website at www.macallaminterim.com to update your details and create a secure log in for future use / updates. 

Many have done so already and to those who have provided positive feedback - thank you.

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.

Interim Managers as part of talent mapping?

Having been an interim provider for a long time you can see the shift in the market in terms of competition for assignments and nervousness from clients. There will always be new entrants to the market consisting of those that have made the decision to embark on a career as an executive interim and long may that continue. During the challenging economic times we have experienced a new breed emerging consisting of those that are fundamentally ‘in betweeners’ – those that are searching for a permanent position but who throw their hat in the ring for interim assignments (some of whom do become career interims whilst others adopt the label whilst visiting!). Another increasing community is made up of people with a niche skill set who are forging an interim career much earlier than the norm and want to step off the corporate ladder for a variety of reasons. This increased competition is forcing some established interims into re-thinking their modus operandi.

This does actually serve clients well as they are able to select from much more choice and is fuelling the increasing preference for the engagement of a flexible and results driven focus of an interim manager. This is driving additional demand as they might not have the budget for a permanent appointment. There is also the acknowledgement that for immediate business critical situations often an interim is the only solution. This in turn is coupled by the new breed’s preference to work on a more flexible arrangement. Research is indicating the rate of growth in ‘temporary’ workers will be three to four times the growth rate among traditional workforces, and that they eventually will make up about 25% of the global workforce, although these figures are likely to be more representative of lower level ‘contractors’.

There are a number of reasons for this. Firstly securing a permanent role is still proving to be tough and the process is taking longer. Some people are finding themselves ‘forced’ down the interim route but many are choosing interim as a lifestyle choice and are selecting to add value to different organisations on a short term basis. Some career interims are seeking better work/life balance; some are fed up with corporate politics and others want to build their own careers by choosing the kind of work or projects that utilise a unique set of skills, making them more desirable for future assignments and thus carve a niche for the work they do. This does of course expose interims to a wide variety of demanding and challenging situations whether focussed on change, turnaround, restructuring or project / programme management and in turn creates even more of an attractive proposition to clients as they come to the table with extensive and relevant experience.

We have had several discussions in the last few months with clients who are ‘planning’ to engage interims to fulfil a particular project, integration, transformation etc. This is a far cry from the more common theme of ‘we have a problem and need someone immediately’.

Fundamentally there is no problem in planning to engage an interim but should there be more thought in the ‘planning’? It still feels as though an increasing number of organisations that are ‘planning’ the engagement of interims are still doing so in an ad-hoc fashion. There is also the nervousness surrounding the engagement in the first place which of course, should be alleviated through the flexibility and added value the interim brings. Therefore shouldn’t organisations be incorporating interim managers into their talent mapping strategies?

This could ensure the best possible fit for the organisation and allow more time to select and engage the right individual for the business. It also opens up the discussion to those that are on assignment who ordinarily would have been excluded from the process but might have concluded in time to commence the new one. This extends the talent pool. There have also been instances when the mandate is put out to several providers thus creating a race which inevitably leads to corners being cut and ultimately too much choice for the client. This tends to lead to indecision as a result of an extended shortlist and often elongated process involving numerous stakeholders thus making it difficult to make a decision.

Businesses constantly evolve and change and as such need to flex their resourcing accordingly. Surely the best way of working for all parties is to partner with a trusted provider that understands the client’s needs, can help achieve their short and long term business strategy, improve performance, manage costs and build a pipeline of talent.

After all, there will always be crisis situations requiring an immediate engagement and I suppose that takes us right back to where we started!

Wishing you all a very Happy Christmas and a healthy and successful 2013.

For more information about how Macallam Interim can help please contact Steven Wynne 01423 704153 for a confidential discussion.

By Steven Wynne

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



Interim Management Sector continues to grow

The results of the IMA Ipsos MORI survey for Q1 2012 has some interesting findings including;

• Data highlights number of enquiries for interim managers is on the increase
• Sector continues to thrive in spite of possible threats from government PAYE proposals
• Women accounting for an increasing number of assignments

The number of enquiries for interim managers increased by 18 per cent in the first quarter of 2012 and the number of new assignments jumped by 20 per cent in the same period, according to the latest Ipsos MORI survey, conducted on behalf of the Interim Management Association (IMA), the industry body representing the leading UK Interim Management Providers.

Some other survey highlights include:
The average length of assignment was 152 days, compared with 173 in the previous quarter.

• Programme/project management was the most common reason for hiring interim executives, accounting for 36% of all assignments.
• Over half (53 percent) of private sector assignments were in banking and finance.
• Public sector business is dominated by local government - accounting for almost half (48 percent) of all public sector assignments.
• These findings confirm  continued growth for the Interim management sector and that it remains a practical, economic and speedy solution to organisations needing help with Change, Restructuring, Turnaround, special projects or to bolster their senior leadership capability.

However, we can’t ignore the threats that face the sector such as the possible changes to tax laws, which could require interim managers to go on to the payroll of companies that engage them, rather than operating  through a Limited company as a specialist in their area.  Whilst the Government plans to tighten the rules of ‘off payroll’ appointments at what remains a challenging time, it could threaten the value proposition of Interim Executives and the flexible resourcing solution that organisations can utilise to gain immediate results.

The survey also revealed female executives account for almost one third (31 per cent) of all the assignments, up from 24 per cent in the previous quarter.

Interestingly, given the recent press surrounding the small number of female executives represented at Board level following the Lord Davies review it is positive to see an increasing number of female interim executives being engaged on assignment and it seems to be a serious career choice for an increasing number of female executives.

By Steven Wynne