Interim managers are back in demand according to the latest quarterly survey from the IMA.
Ipsos MORI conducted the survey covering the period from July to September. The results showed that despite the turbulent economic conditions, 22% more new assignments were recorded compared to the previous quarter.
Completed private sector interim managerial assignments rose to their highest level since the fourth quarter of 2007. 65% of assignments were completed for private sector organisations in Q3; a rise of four percentage points on the second quarter.
The IMA also saw an increase in the number of enquiries from member firms requiring interim managers. The Association said enquiries have risen steadily this year and are now 68% higher than they were in the fourth quarter of last year.
IMA chair, Jason Atkinson, said the summer season generally sees a slow-down in hiring, and coupled with the struggling economy, its quite amazing to see a 22% increase in the number of assignments. This shows that companies continue to value interim managers as a flexible and highly effective resource that can be utilised come rain or shine.
He went on to say that it was encouraging to see more completed assignments in the private sector and usage in that sector had now returned to 2007 levels.
The IMA celebrates its 25th anniversary next year and since its inception the interim management sector has grown into a mainstream resourcing option contributing £1.5 billion to the British economy. This trend is expected to continue as businesses recognise interim managers as an efficient resource that can be put in place quickly, he added.
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