Proportion of interim managers in high level marketing roles rebounds
Interim Partners says that those in senior marketing positions now account for 8% of all interim managers positions in the private sector (Q1 2014, source: the Interim Management Association). In Q1 2010, as the UK was still reeling from recession the figure was just 1% - down from 8% in Q1 2007 before the credit crunch.
Interim executives are senior executives, usually at or just below board-level, who are recruited on a short term basis.
Interim Partners says the bounce back in the recruitment of interim marketing directors comes as economic recovery finally allows businesses to increase their marketing and advertising budgets.
During the economic downturn, firms’ recruitment of senior executives focussed on management experienced at cutting costs or improving cash conversion, while marketing budgets were cut back dramatically.
Liz Sinclair, principal at Interim Partners, says, “During the downturn, companies were concerned with just staying in the game and that meant slashing costs. Marketing departments were frequently starved of investment, having to operate on heavily reduced budgets.
“Highly skilled interim marketing directors found themselves sitting out the entire recession on the bench, while restructuring and change interims tasked with making firms more efficient and competitive saw demand for their expertise explode.
“Now, strategic marketing is once again being seen as a key priority and the purse strings are starting to be loosened. As the outlook improves, businesses are increasingly looking to ramp up revenue and boost turnover, using skilled and experienced interims to implement dynamic sales and marketing strategies and deliver rapid results.”
She added, “Interim marketing directors are often the best people to do this, as their range of experience tends to give them a clear external perspective on the business and its standing compared to its competitors as well as a proven track record in achieving results across many different companies.
“They are practised at getting under the skin of a company very quickly to understand how it ticks and getting major strategy programmes underway within a short space of time, so they can be an invaluable resource to tap into.”