Interim Management is no longer just a bridging exercise whilst the search for permanent executives ensues – it’s clear that the market is shifting, with employers recognising the value that highly experienced professionals can bring to the business over short periods of time. Interim Managers help to protect, reinvigorate and inspire organisations. Why? It comes down to their specialist skills (in areas such as technology, diversity and change management), which can help transform businesses by working independently or alongside management consultants. These benefits are contributing to the growing demand for these professionals that we’re seeing both locally and internationally.
If you are looking to hire an Interim Manager, it’s important to understand the current market conditions and where your organisation fits into it. From the global view to the Brisbane market, here are the key trends within the world of Interim Management.
So, what does the Interim Management talent pool look like? A recent study in the EU profiled Interim Managers from around the world, and not surprisingly, the largest cohort of Interim Managers are aged over 50, with 54% of the market sitting in the age bracket of 51-60. In terms of the experience, people have had as an Interim Manager, one third (33.7%) have only been doing it for 1-2 years – a strong indication that more senior executives are seeking to move away from permanent positions.
Along similar lines, 40.7% of Interim Managers are working fewer than 100 days per year, whilst almost half are engaging in contracts six months or longer.
The study also showed that demand for the professionals is increasing. Over the last 12 months, 76% of Interim Managers had found more demand for their skills and experience, with 86% of those surveyed stating they had found the same or more opportunities than the previous year.
Australian Market View
Closer to home, a recent survey of C-Suite professionals and board members that OnTalent undertook showed the growing appetite for Interim Executives. Three-quarters of participants agreed there is a rising need in the market, whilst just under a third of those surveyed had used an Interim Manager or Executive in the last 18 months.
The Queensland Interim Manager Market
Whilst the market in Queensland is still embryonic, it seems that attitudes have begun to shift. While there is still a preference among some organisations to use management consultants, there is a growing demand for Interim Managers within corporate functions such as Change Management and Digital Transformation. In terms of backgrounds, it’s no surprise that employers are looking for experience specific to their sector, considering this to be equally as important as technical or management skills.
Kevan Sangster is Client Partner – Contracting & Interim Management at OnTalent. With over 15 years in the recruitment industry within Australia and the UK, Kevan is experienced at identifying and engaging great talent to support organisational needs in tight timeframes. For a discussion call Kevan on 07 3305 5800 or email: [email protected]