INTERIM MANAGEMENT IN 2013 BY JOHN MACLACHLAN

INTERIM MANAGEMENT IN 2013 Interim management is a popular method of making fast, efficient and positive changes in a business. Interim managers are utilised across a number of industry sectors and boast strong track records within their chosen fields. Their expertise and non-permanent nature makes them an attractive proposition to businesses looking to solve a problem without paying large sums of money. The ability of interim managers to quickly acclimatise to a business environment and make suitable changes means that a company can resolve an issue without the outlay of hiring someone with a similar level of experience on a full time basis. This presentation will examine the characteristics and performance of the interim management sector in 2013.

RECRUITMENT Interim recruitment improved in 2013 as those interim managers “not in assignment” fell from 47% in January 2011 to 39% in August Interim recruitment Those in full time assignment also increased from 29% to 37%. Those engaged in part-time or multiple part-time assignments remained consistent at 24%. These figures shows that the industry is beginning to recover, approaching figures of assignment that were the norm before the current economic crisis occurred.

PROFILE Gender: In 2013, 80% of interim managers were male, whilst 20% were female. Whilst the proportion of females is small, there have been signs of an improvement in this area. In 2011, just 15% were female, meaning there has been a rise of 5%. This figure looks set to continue to rise in the coming years as 46% of interim managers under the age of 50 are female. Interim management remains an ‘older’ person’s game; 70% are aged 50 or over. There are no interim managers under the age of 30, and just 4% of interim managers are aged between 30 and 39.

RATES Rates charged by interim managers remained largely unchanged in 2013 with 58% reporting that they had stayed around the same. 19% said that they were billing at a higher rate in 2013, whilst 23% said that they had charged less. In August % of interim managers reported charging at least £400 for a daily rate, a rise of 2% from January On average, male interim managers charged £647 per day, £51 more than the average female interim manager. In 2011 male and female interim managers charged, on average, roughly the same daily rate.

CLIENTS Big corporations were the main employers of interim managers, with 42% of interim managers working for them. SMEs were the second biggest employer of interim managers at a rate of 33%, followed by the public sector (11%) and charities (8%). 19% of organisations that hired interim managers said they did so due to a lack of necessary skills amongst existing staff members. 16% stated that they required more man power for a short term project. 13% stated that an interim was hired for change management purposes.