Confidence in economy growing amongst senior businesses leaders
Alium, a leading interim management provider, surveyed over 100 business leaders from leading privately owned and FTSE 350 companies to compile the report.
Despite global economic uncertainty, 51% of respondents said they felt more or much more confident in the economy over the next year compared to the last 12 months, and a further 40% are equally confident. Less than 10% of respondents reported a decline in confidence.
Although there is confidence in the economy, 46% of leaders see growth as their biggest challenge, as well as 39% acknowledging that the skills shortage and need to cut costs are problematic. As testament to confidence in the economy, under 10% of respondents see turnaround or crises as a challenge for their businesses.
In this positive environment, leaders report a shift in the key tasks of interims. Whereas previously interims were used mainly for crisis/distress situations, in the next year, business leaders expect interims to assist with business development (33%) and performance and quality improvement (36%). None of the respondents expected personnel redundancy to be a key task for interims.
The survey indicates continued positivity towards interims: when asked whether interims enable a company to be more competitive, 75% were positive that they do. 38% of respondents have used more than 10 interims in the past 12 months, and a further 42% have used at least 3.
Nigel Peters, Managing Partner of Alium Partners, said: “This inaugural survey of over 100 top business leaders from SME to FTSE 350, provides a unique snapshot into the state of the economy and current market opinion. It is pleasing to see such an increase in confidence from businesses as they strive to achieve growth and gain new skills, in what is still a challenging environment. The responses also highlight that the use of interim professionals to achieve these objectives is a key resource for the future.”
About Alium Partners
Established in 2003, Alium Partners is a leading global agile resourcing firm that focuses on providing senior interim executives for the delivery of complex, strategic change projects. Clients are large, publicly quoted companies, public sector organisations and private equity owned firms, as well as SMEs. Alium Partners also provides contingent search solutions to clients through its permanent offering, Beyond Interim. Headquartered in London, with offices in Latin America, and a network of partners around the world, Alium Partners serves clients in the UK and internationally.
Alium has comprehensive expertise across a number of sectors including: Aviation Education Energy Financial Services FMCG and Manufacturing Health Infrastructure Life Sciences Private Equity Professional Services Support Services and Technology, Media and Telecommunications. Alium Partners is the exclusive interim management partner of the ICAEW, the professional body and qualification provider for chartered accountants worldwide.
From a functional perspective, Alium has unparalleled capability in: Finance General Management and C-suite HR IT Portfolio, Programme and Project Management Procurement and Supply Chain Sales and Marketing Shared Services and Turnaround and Transformation.
This breadth of experience has enabled Alium Partners to develop a talent pool of over 10,000 interim executives, who trust the firm to find them assignments that will challenge and stimulate them.