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Growth in new assignments shows continuing demand for interim managers

Growth in new assignments shows continuing demand for interim managers

The Interim Management Association’s (IMA) quarterly survey has shown a clear rise in the number of new assignments started in quarter three, compared to the previous three months. Conducted by leading pollsters Ipsos MORI, the survey for July – September reveals a 22 per cent increase in new assignments, despite the testing economic conditions.

The research also indicates that the private sector now accounts for 65 per cent of all completed interim managerial assignments, up from 61 per cent in quarter two. This share of private sector assignments completed by IMA members is at its highest level since Q4 2007 and appears to have returned to pre-recession figures.   

The number of enquiries received by member firms – resulting in their commencing work to identify a suitable interim manager for a client – also grew in the third quarter, continuing an upward trend which sees enquiries rising by 68 per cent from a low which occurred in the fourth quarter of 2010.

Commenting on the latest figures, Jason Atkinson, Chair of the IMA said:

“With the summer period historically slow for hiring and the UK economy continuing to struggle, it’s quite remarkable that the uptake in assignments has increased by 22 per cent. This is a good indicator of the value that businesses are continuing to place on flexible and strategic resource – interim management is undoubtedly still perceived as a highly effective and tactical tool to be deployed come rain or shine.”

He continued:

“The rise in completed private sector assignments is also encouraging with the figures showing interim usage in the private sector now on par with 2007 levels. This clearly shows that businesses are confident that appointing an interim manager will boost their bottom line. Whether it’s for gap management, project management or transitional change, at a time of economic uncertainty, businesses know that interim managers can be flexibly deployed alongside existing teams to make an immediate impact.”

Concluding, Atkinson said:

“2012 marks the 25th anniversary of the IMA and in just a few decades, interim management has evolved to become a mainstream resourcing option and an industry worth over &pound1.5bn to the UK economy.  We can expect the trend to continue as interim management is now widely recognised as a resource that can be quickly implemented and very efficient in various situations, not least a period of economic unpredictability that we see at the moment.”

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