Strategic use of interims supersedes demand for gap cover

Interim managers now undertake longer assignments, with a quarter of contracts now lasting between seven and nine months, a rise of seven per cent on last year. This highlights a move from traditional operational ëgap coverí roles to more strategic positions.

Shorter assignments of three months or less have fallen by six per cent from last year and now account for only 17 per cent of assignments reveals multi-disciplinary HR consultancy Chiumento. As assignments lengthen, interims have more opportunity to work strategically. Half of all assignments are now deemed strategic and of these, 81 per cent of interims are engaged to undertake special projects and only 19 per cent to provide gap cover.

A third of interims are now involved in hiring additional interim support while on assignment. Justification for extra interim support includes higher workload levels and insufficient talent within the permanent workforce.

Director of interim management, Graham Bird comments: ìOrganisations are increasingly seeing the value of using interims more strategically. Businesses can benefit by engaging an interim professional who can contribute specialist skills, extensive industry knowledge and strong project capability. By harnessing the expertise of interims for longer periods, businesses can ensure learning is transferred to permanent employees, benefiting the organisation as a whole.î

The interim market is buoyant and increasingly competitive as a larger number of professionals view interim management as an attractive career option. Since 2005 there has been almost a 20 per cent growth in the number of agencies offering interim services.

Interim managers are contracted to undertake a wider variety of assignments than two years ago. The top five reasons for engaging interim support are:

1. Change transition management
2. Specialist project and programme management
3. Business improvement
4. Gap management
5. Crisis management and also Mergers and acquisitions

The research also reveals that:

ï 82% of interims believe that organisations have now become so ëleaní that theyíve lost key talent, hence the necessity to ëbuy-iní expert knowledge. Upon engaging interim support however, 73% of respondents think businesses could do more to capture the knowledge imparted by the interim manager for ëreference next timeí.

ï The public sector is increasingly aware of the benefits of interim management with central government being the largest user (30 per cent). Compared with the private sector however, they are one of the least effective in harnessing the learning from interim managers. Only 10 per per cent of respondents believed that central government had processes in place to ensure that learning and knowledge isnít lost at the end of assignments, compared with 29 per cent of respondents who felt that finance and banking sectors did have these processes.

Over 100 interim managers on Chiumentoís database responded to the survey. For further information, or to receive a copy of the report, contact Laura Buller or Rebecca Williams at CHA on 020 7622 8252, email Laura.Buller@chapr.co.uk.

Case studies available.