Increased demand for interim managers according to survey
A survey conducted by Ipsos MORI has revealed that there is an increase in demand for interim managers with an increase in demand noted in the final quarter of 2014. The average number of enquiries made by members of the Interim Management Association looking for interim managers was up by almost a quarter on the same period in 2013.
There was also a rise in the number of new assignments available, with a five per cent increase in the number available compared to the same period in 2013. The average number of billable days increased between the third and fourth quarters of 2014, with a twelve per cent rise which saw the number go from 152 to 172. Averaged across 2013 and 2014, the rise in billable days shows an increase from an average of 149 in 2013 to 171 in 2014.
The most interest in interim management positions is coming from the private sector which represents around 67 per cent of the available opportunities, which is another increase on last year’s figures. The highest number of completed assignments for 2014 were for the private sector and of these, most were in the finance industry. This continued a trend which saw 39 per cent of all private sector assignments being finance related in the final quarter of 2014 although this was actually a decrease on the third quarter.
The biotech and pharmaceutical industries represented 11 per cent of all contracts in the final quarter of 2014, which was up from 7 per cent. Commentators are positive about the impact of these figures in terms of what it means for interim management opportunities and the fact that this suggests a general buoyancy in the market which is driving increased demand from clients.
The number of private sector assignments is at the highest level it has been since the survey was begun in 2006, and the indubitable contribution of interim managers to the finance industry has been quantified by the results.
Dafydd Wright of the RSA Group is heartened to see the increased activity from the life sciences sector, and notes that the mergers and acquisitions provide plenty of opportunities for interims to impart their expertise when it comes to change management and leadership.
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