Latest News - Interim Market Declines
Thursday Feb 9
Interim market declines
Activity in the UK interim market fell by 6% in the six months between June and December 2011. At the same time, there was evidence that role of interim managers is changing, with less emphasis on gap filling and more strategic hiring, according to interim management provider Russam GMSs latest snap-shot survey of 12,000 interim managers.
The 6% decline in activity levels follows a brief period of optimism in June 2011, when activity rose by 1.2%.
The survey found an increase in the number of interims describing themselves as change managers as fewer businesses recruited interims for traditional gap filling roles, which now make up only 13% of assignments. Instead, they are being hired for assignments focused on business transformation.
Charles Russam, chairman of Russam GMS, says: Interim management has come of age. Companies are now hiring interims more strategically to run special projects such as post-merger integration or change programmes. Gap filling projects still have their place, but more interims are working with CEOs to deliver change and modernise and progress businesses. Interestingly, around 5% now classify themselves as change managers it has become a new job discipline. Companies have also recognised that the benefits interims can bring in terms of coaching and developing internal teams.
The survey highlighted that the industry continues to be male dominated, with an additional facet being a 13.5% pay divide between men and women.
Russam, says he is disappointed to see a big pay gap between men and women, although it does appear to be linked to the sectors in which they work. Russam adds: We want to attract greater number of women into the industry and this is the main goal of our womens business network, Interim Women.
Source: www.recruiter.co.uk - 9 February 2012
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