Top global executive search firm finds organisations still want solutions
without permanent commitment; public sector and financial services remain most
likely to hire interim professionals -
LONDON–(Business Wire)–
Demand for UK interim managers in the second half of 2010 will remain strong as
companies seek operational turnarounds and growth solutions, without committing
to permanent hires, according to an announcement released today by Boyden global
executive search and Boyden interim management.
“We expect the demand for interim executives will remain robust for the rest of
the year, though the high utilisation of public sector interims may reduce with
the change of government and recent public sector spending cuts,” said Patrique
Habboo, Managing Partner at Boyden UK interim management. “We expect hiring of
interim talent in the public sector, financial services, manufacturing and other
sectors to play an integral role as clients ensure their management teams remain
fleet of foot and flexible during a time of economic transition.”
“Business cycles have shortened so much that permanent recruitment at the most
senior levels often cannot cope with the speed of change,” added Mr. Habboo. “As
companies react to global macroeconomic shifts, there`s a tremendous advantage
for organisations to turn to `over qualified` experts to help transform their
business, bring fresh perspective and extra executive horsepower. Companies are
still cautious about the economic recovery and hiring permanent executives.”
In the UK, the Public Sector retained the highest level of interim managers at
21 percent, while Financial Services was second at nine percent and Industrial
sector at seven percent, according to the Boyden interim management survey
released earlier this year. General Management (16 percent), Finance (15
percent) and Human Resources (13 percent) functions were the leading titles of
Interims on assignment in the Boyden survey of over 700 interim managers in
nearly 100 organisations.
The Boyden interim management survey queried managers on the leadership
qualities most often needed to reorganize and grow businesses. Most often
interim professionals believed that organisations have too often been working at
a strategic level to address changing economic circumstances rather than
focusing on better procurement, lean production, enhanced marketing/business
development or improved communication with customers. More than half of the
interim managers surveyed explained companies` response has been defensive
rather than strategic and often unnecessarily puts business initiatives on hold,
rather than investing for the upturn.
In the second half of 2010, the Public Sector is expected to continue to retain
a high proportion of interims, though government budget cuts could have some
effect on future hiring through 2010. However, new UK government decision makers
may weigh the benefit of interims` ability to “get on with the job” and produce
results and save costs without getting bogged down in internal politics,
according to Mr. Habboo.
Interim management is classified as the supply of executive level resource for a
clearly defined period of time, with an average tenure of six months. For a 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.
Boyden World Corporation
John Ellis
t. + 44 207 389-9771
john@boyden.uk.com
or
Dan Margolis for Boyden
t. +1 213 452-6472
dan.margolis@fd.com
Copyright Business Wire 2010