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I hope that demand for interims will remain strong in 09 although I believe that this can happen as long as the interim provider community can offer a broad range of skill sets and their interim managers can demonstrate the appropriate experience and track record to meet the challenges of the changing business environment.
In a buoyant marketplace many interims have prided themselves in being able to manage expansion programmes, develop new areas of business and bring top level experience to mergers and acquisition projects. While these skills are still part of the portfolio offered by Interim Partners and others in the interim community, there is now a greater requirement for a different range of specialist skills – those that reflect the needs of businesses going through a dramatic period of change caused by the rapid consolidation of markets and rationalisation of resources and capacity. Businesses are focusing on overhead cost control, cash generation, reducing stock and refining the supply chain. While in-house managers might have some experience here, specialist interims can provide more appropriate expertise.
At Interim Partners we have adapted to the changes in demand for interim managers as we have developed a portfolio of candidates offering diverse skills and experience suitable for today’s market. Many of our interims have proven track records in turnarounds and have operated during a recession before, both in the UK and internationally. This change is supported by our performance at the end of 08 and into 09. In January 09 we have placed a range of candidates in both the private and public sector. The common theme being one where there is a need for high quality senior managers and directors who can improve performance in a challenging marketplace.
Examples of some of the assignments where we have successfully placed candidates this year include: CEO to turnaround a private equity backed food business; CEO to rationalise manufacturing in a pharmaceutical company; CFO to improve cash position for chilled meats business and Supply Chain Director at a manufacturing company.
For a number of businesses the performance for the rest of this year is uncertain. Therefore it is not surprising that many of our clients have decided not to recruit on a permanent basis. They are, however, looking cautiously at the recruitment of interim managers. We, as interim providers, must make sure there is a clear understanding of the benefits that an interim can offer.
The advantages of being an experienced and committed interim manager are known to all of us if we are a provider or interim managers, however, it is important now more than ever to highlight the advantages to our clients. Especially as more candidates are going to enter the market this year due to redundancy, many of whom will have little intention of being an interim manager longer term.
Our message to our clients is built around the value added by an interim manager. Any interim must have the ability to hit the ground running in a short timeframe. The appointment of interim managers with wide experience across many companies, and typically over-qualified for the role they take on, enables them to advise, deliver and add value in a relatively short timeframe. While a full time employee may be able to bring these benefits, an interim has the advantage of being operational immediately, highly motivated but without being a long-term commitment or having the associated risks of being so.
Although the goal posts have changed, I am confident that interims are an excellent solution to many senior management challenges. By delivering results with minimum of delay, adding value and sharing their expertise they are a cost-effective route to recovery. It is now up to all of us within the interim community to ensure that our message is heard.
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