Boyden Survey Reveals Growth in UK Interim Management Market
Top global executive search firms finds companies and executives predict a continued elevated level of interim assignments in 2011; a surge in demand for Change Managers and M&A Experts in expected«| Page 1 of 1 |»
LONDON, April 27, 2011— Demand for UK interim executives is expected to continue to grow in 2011, and is likely to stay strong as companies continue to seek operational turnarounds and solutions without committing to long term employment, according to a survey released today by Boyden global executive search and Boyden interim management.
“We expect the demand for interim executives to stay bullish in 2011, particularly at the higher end of the market where seniority and experience are critical in a change phase,” said Patrique Habboo, Managing Partner at Boyden UK interim management. “As companies gear up for a macroeconomic recovery and the M&A market improves, a track record in turnaround will be required as interim talent helps restore confidence in the market.”
This year, while the Public Sector remained the highest user of interim managers in 2011 (19 percent of assignments), the Financial Services sector has a renewed healthy demand for interim managers (12 percent).
“Compared to previous years, the public sector this year is less likely to be the great provider of interim assignments with Financial Services making up lost ground,” said Mr. Habboo. “We are also noticing a rise in the number of interim executives working in the Energy sector, particularly in renewable energy sources.”
The demand for Change Managers has also more than doubled this year. In addition, with more organisations focusing inward on cost control and efficiency gains rather than strategy, the demand for General Management and consulting roles has reduced slightly from 2010 while those interims most in demand now are ones who can help control costs through efficiencies in finance and operations personnel.
In addition, the Boyden survey revealed that 84 percent of client organizations rate interim managers as a much valued resource and the experience of using them very positive. While 33 percent of companies expect growth of interim assignments this year, another 35 percent view interims as an investment for the market upturn.
Reasons for hiring interim managers by the companies surveyed include insufficient in-house expertise, covering a short term need for specific skills, an unforeseen gap in senior management, difficulty recruiting from the permanent market and the need for a catalyst role to strengthen leadership capabilities and drive change.
Interim management is classified as the supply of an executive level resource for a clearly defined period of time, with an average tenure of six months. For a full copy of Boyden’s interim management survey please visit www.boydeninterim.co.uk.
About Boyden World Corporation
Boyden is a global leader in the executive search industry with more than 70 offices in over 40 countries. Founded in 1946, Boyden specializes in high level executive search, Interim Management and Human Capital consulting across a broad spectrum of industries. For further information, visit the firm’s website at www.boyden.com.