Market demand for Interims continues to break records

The latest Russam GMS Interim Management Snapshot Survey which interviewed almost 1000 Interim Managers at the beginning of 2007 revealed that Interim Managers are being paid record daily rates. They can command an average of 558 a day, up 4% on the beginning of 2006. The demand for Interim Managers is also at an all-time high.

More Interim managers are on assignment now than in the dot-com boom of 2001 and there is increasing recognition of strategic change as the prime growth driver. Previously, Interim Managers were more commonly called upon to fill in employment gaps or for ride-to-the-rescue assignments.

Public sector work continues to dominate the market with the biggest usage of Interim Managers. However, finance professionals have experienced the greatest growth in demand - all seen against a background of a noticeable increase in activity and earnings amongst older Interim Managers.

Russam GMS Director, Jason Atkinson, also points to the ìwar for talentî now moving in to the Interim Management sector. ìWe are seeing a big increase in the number of instructions from clients but they are clearly becoming much more demanding than beforeî, Atkinson reports.

ìThere is a shortage of talent in the permanent market and which is putting a lot of pressure on this industry to find the right Executive ñ and fastî, he says. Atkinson adds that ìCentral and Local Government are clearly using Interims instead of Consultants ñ probably because they have realised they are about half the price - and this is a very welcome trendî.

Sectors using Interim Managers most were once again Manufacturing and Engineering and Central and Local Government including Charities.

Interestingly, it is the Public Sector that relies on Providers the most whilst the Manufacturing and Engineering Sector uses Providers the least. John Wilson heads up the Russam GMS Manufacturing Practice, ìWhilst many observers see Manufacturing as a sunset sector, the reality is that they are using Interims in large numbers, mostly from their own contacts and all keenly priced,î he reports. Wilson adds, ìThose Providers who can respond to this are seeing the growth in demandî.