78% of Interim Managers we surveyed do not feel enough is being done to support the interim community.
We have worked with our interim management network to obtain their insight and thoughts on the interim market. After hearing from both our candidates and clients about the changes they are seeing in the market, we wanted to extend our reach to the wider community.
As an interim provider, our core goal was to truly understand the shift the interim community has made in recent years and how as a provider, EO Executives will need to adapt to better support Interim Managers and client requirements.
What exactly is an ‘Interim Manager’?
For those that are unfamiliar with the term ‘Interim Manager’ – it is the provision of management or project manager over a limited period.
An Interim Manager should not be confused with a traditional consultant or a ‘temporary’ member of staff.
Interim Managers are typically highly experienced executives, who have experience operating in C-Level positions. They are engaged by an organisation to provide their expertise during a period of changing, bridge a skills gap or overcome organisational failures.
Interim Management is what EO Executives (then Executives Online) was originally founded on. And, over the last 16 years we have helped many Interim Managers to source some rewarding assignments.
What did we want to find out?
With global economic challenges impacting the UK workforce, more organisations are now moving towards a flexible workforce in search of top talent. But what does this mean for interim managers and how is this changing the market?
We surveyed over 280+ respondents operating within the UK, from an array of industries/functions. As a result, we have analysed and published ‘EO Executives Interim Report 2018’ which aims to support companies and interim's alike to manage economic changes and prepare for the future.
What do we cover in the report?
Our survey asks:
- What is the typical profile of an interim manager?
- Which companies commission interim managers?
- Why do companies hire interim managers?
- What added value to interim managers provide to businesses?
- What is the typical length of an interim assignment?
- What are the current challenges facing interim managers?
- How do interim managers source their assignments?
- What role do providers play in the interim management market?
What were the key findings?
- The average day rate of interim managers we surveyed across the UK was £800- £999.
- Demand for interim managers remains stable as 43% of respondents claimed that they were typically hired for more than 9 months.
- SME’s hired less interim managers in 2017 (17%).
- Interim managers are typically hired for Change Management at 43%.
- 50% of respondents were typically engaged by large/corporate organisations.
- 68% of interim managers that EO placed last year were extended beyond their original term.
We still have more to share, so if you would like to uncover the findings in more detail, along with some advice on how Interim Managers can best navigate the uncertainty of Brexit, click here to download your copy.
We would like to thank everybody for there contributions to the report, and trust this will be a valuable document for many Interim Managers.