The market for Interim Managers – independent professionals supplying expertise on demand – is growing sharply with organisations hiring specialist skills for short term projects.
According to the Interim Management Survey 2011, published today by the Institute of Interim Management, the typical daily rate for interim managers has increased from around £600 in 2010 to £638 in 2011 reflecting increased demand for business agility in an uncertain environment.
Nearly two thirds interim managers reported that they were engaged specifically for their Change Management or other Specialist Skills. A further 10 per cent were engaged for Business Turnaround. The number of interim managers reporting that they are currently on assignment has also risen from 51 per cent in 2010 to 60 per cent this year.
At the same time, prospective interim managers are looking at the industry to provide them with increased control over their professional lives. Interim managers value the variety, flexibility and autonomy offered by the interim model. According to IIM co-Chairman, Ad van der Rest, “That 70 per cent of
prospective interim managers are considering the profession because of life-style and work-style choices, even in tough times, shows the appeal to
many of interim management.”
Elsewhere, the survey reflected the growing importance of business networking site, LinkedIn. 68 per cent of interim managers believe a LinkedIn profile is either Essential or a Good Idea whilst, in such a relationship driven business, only 27 per cent feel the same way about an individual web-site.
The IIM’s LinkedIn Group has over 5,000 members and survey respondents voted LinkedIn the top site overall for interim management assignments.
The IIM’s uniquely independent survey also ranks Interim Management Service Providers and received over 16,000 unique votes to create its list of 100 Top Service Providers. For the second year in a row, Veredus was voted Top Provider with BIE (2nd), Odgers Interim (3rd), Interim Partners (4th) and Green Park (5th) making up the rest of the Top Five. Typically, Service Providers handle 49 per cent of interim management assignments.
The IIM Interim Management Survey 2011 can be downloaded free at: https://iim.org.uk/survey/ .